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Sapiens International Corporation, an Israeli company of the Asseco Group, announced its results of operations for the year 2010

Sapiens International, a NASDAQ and TASE listed company of the Asseco Group, a provider of innovative software solutions for insurance institutions, in 2010 generated sales revenues of USD 52.2 million, a 14% growth when compared to the prior year. Operating profit reached USD 6.7 million, this is 26% more than for 2009. Whereas, net profit improved by 46% and amounted to USD 6.2 million for the full 2010.

In the fourth quarter of 2010 the company generated USD 14.7 million of sales revenues which increased by 25 % in comparison with the corresponding period last year. The fourth quarter operating profit reached USD 1.9 million and it improved by 28% when compared to the corresponding period of 2009. The company’s net profit for the fourth quarter of 2010 amounted to USD 1.7 million, beating the year-ago earnings by 36%.

Such a growth in revenues and profits for 2010 was achieved owing to organic development of the company’s business worldwide. This was also contributed by the acquisition of Harcase, a provider of information solutions for the insurance industry, being one of the company’s most significant events during the previous year.

We are very proud of our achievements in 2010. We were, and continue to be, focused on development and growth of our company. This remains our key objective also for 2011 – commented Roni Al-Dor, President and CEO of Sapiens International Corporation. 

– We expanded our investments in sales, marketing and Research & Development. As we enter 2011 we will continue to establish our leadership in the market. Recently we signed a major deal with one of the largest financial institutions in the US, and this is certainly expected to be reflected in our 2011 and 2012 results.

Sapiens International Corporation is a global provider of software solutions for the insurance industry. The company is listed on TASE (Tel Aviv Stock Exchange) as well as the American NASDAQ Global Markets.


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