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Sapiens Releases Financial Guidance for 2013 Revenue of $135 Million
[January 21, 2013]

Sapiens Releases Financial Guidance for 2013 Revenue of $135 Million


Jan 21, 2013 (Close-Up Media via COMTEX) -- Sapiens International Corp. a provider of software solutions and a member of the Formula Systems Group, announced that it expects to reach $135 million revenues in 2013, representing 20 percent year-over-year growth compared to 2012 guidance.



According to a release, with the end of fourth quarter, Sapiens confirms revenue guidance for the full year of 2012 at $113 million. This reflects a year-over-year growth of 62 percent compared to 2011 actual results, and 16.5 percent growth compared to pro-forma results. In August 2011 Sapiens acquired FIS Software and I.D.I. Technologies.

"2013 will be a pivotal year, as we expect to rapidly expand our business with new customers as well as our existing ones. Our insurance solutions are gaining recognition and the demand is growing, and DECISION, our new business decision management solution, is being reviewed by an increasing number of top tier financial institutions." said Roni Al-Dor, President and CEO of Sapiens. "Based on our growth drivers and our strong financial position, Sapiens is well positioned for 2013." ((Comments on this story may be sent to [email protected]))

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