Formula Systems: 1Q Earnings Snapshot

OR YEHUDA, Israel (AP) _ Formula Systems (1985) Ltd. (FORTY) on Thursday reported first-quarter net income of $10 million.

The Or Yehuda, Israel-based company said it had profit of 58 cents per share.

The information technology company posted revenue of $391.4 million in the period.

Formula Systems shares have risen 35% since the beginning of the year. The stock has increased 28% in the last 12 months.

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