Sapiens Q1 loss/share $0.13 vs $0.19 loss/share
Wednesday May 12, 5:53 am ET
Wednesday May 12, 5:53 am ET--May 12, 2004--Sapiens International Corporation N.V (Nasdaq:SPNS - News) and (TASE:SPNS) reported the following results on Wednesday:
SAPIENS INTERNATIONAL CORPORATION N.V.
Condensed Consolidated Statements of Income
(U.S. Dollars in thousands, except per share amounts)
For the three months
ended
-----------------------
03/31/2004 03/31/2003
----------- -----------
(Unaudited) (Unaudited)
Revenues
Products $7,721 $6,324
Consulting and other services 4,844 5,732
----------- -----------
Total revenues 12,565 12,056
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Cost of revenues
Products 4,373 3,851
Consulting and other services 2,456 3,550
----------- -----------
Total cost of revenues 6,829 7,401
----------- -----------
Gross Profit 5,736 4,655
Expenses
Research and development, net 522 1,401
Selling, marketing, general and administrative 5,563 5,407
----------- -----------
Operating Income/(Loss) (349) (2,153)
Financial expenses, net 650 170
Other expenses/(income), net (a) 345 (336)
----------- -----------
Net Income/(Loss) $(1,344) $(1,987)
=========== ===========
Basic and diluted net earnings/(loss)
per share (b) $(0.13) $(0.19)
=========== ===========
Weighted average number of shares used to
compute basic and diluted earnings/(loss) per
share (b) 10,747 10,691
Note a: Includes taxes and minority interest
b: Due to the net loss in 2003 and 2004 the inclusion
of dilutive securities would be antidilutive.
Contact:
Sapiens International
Yuval Hadari, +1-877-554-2426
+972-8-938-2721
yuval.h@sapiens.com
or
Itzick Sharir, +44-1895-464 265
itzick.s@sapiens.com
 
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