Revenue Update on Formula Systems (1985) Ltd. (ADR)(NASDAQ:FORTY)

Formula Systems (1985) Ltd. (ADR)(NASDAQ:FORTY) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 18, 2016. Earnings per share were $0.45.

Formula Systems (1985) Ltd. (ADR) (FORTY) shares turned negative on Mondays trading session with the shares closing down -1.97 points or -4.80% at a volume of 1,003. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $39.99. The peak price level was also seen at $39.99 while the days lowest was $39.1. Finally the shares closed at $39.1. The 52-week high of the shares is $42.2 while the 52-week low is $23.5401. According to the latest information available, the market cap of the company is $576 M.

Formula Systems (1985) Ltd. is an Israel-based IT solutions and services holding company. The Company through its directly held subsidiaries and affiliates is engaged in providing proprietary and non-proprietary software solutions and services software product marketing and support computer infrastructure and integration solutions and learning and integration. It operates through its subsidiary: Matrix and through its affiliated companies Magic Software and Sapiens. The areas of the Company’s business activity includes: IT Services the Company designs and implements IT solutions which improve the productivity of its customers’ existing IT assets. Through Software Solutions the Company designs develops and markets software solutions for sale in the selected markets across the world. It seeks opportunities to invest in or acquire companies with attractive software solutions under development which it believes to have market potential.

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