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HOLON, Israel (AP) — HOLON, Israel (AP) — Sapiens International Corp. (SPNS) on Tuesday reported fourth-quarter net income of $17.9 million.
The Holon, Israel-based company said it had profit of 32 cents per share. Earnings, adjusted for one-time gains and costs, came to 37 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The provider of software and services to the insurance industry posted revenue of $134.3 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $136.1 million.
For the year, the company reported profit of $72.2 million, or $1.29 per share. Revenue was reported as $542.4 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPNS at https://www.zacks.com/ap/SPNS