"Magic Continues Growth Streak with Record Q3 2013 Non-GAAP Operating Income of $6.0 Million, an Increase of 31% Year over Year; Revenues for Q3 2013 Grew 9% Year over Year to $35.6 Million
Non-GAAP operating income for the first nine months increased 17% to a record $15.9 million; Revenues for the first nine months increased 14% year over year to $103.8 million"
Let's see if we get the share price increase deserved responsive to this strong earnings report.
Best regards to all MGIC longs.
The comparative numbers for the coming 4 quarters should look very impressive after Allstates revs are added, though those will be consulting and not s/w revs. I think we may see the pps advance in the months ahead. At current growth rates, it's unusual to see a software company with a single digits forward p/e. We're under the radar I presume.
You answered your own question MGIC is only 50% a software company the overwhelming share of the growth in the past few years has come from the consulting acquisitions. If you are ever planning on MGIC achieving software pe's it would be the first time in 13 years that has happened. MGIC is now a very steady small cap slow grower, with a 3% divi. There is NEVER a break out Q eps-wise and waiting for that will only frustrate you more. And that's if any one can figure out the GAAP, NON-GAAP, and other incredibly confusing bs they report. Forget the headline what was the actual growth, 3%?