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GAAP-based operating profit rose eight-fold to $1.6 million for the third quarter from $200,000 for the corresponding quarter. GAAP-based net profit more than doubled to $1.7 million ($0.05 per share) from $800,000 for the corresponding quarter, which included a $700,000 contribution from discontinued operations.
Non-GAP operating profit rose 385 percent to $1.8 million for the third quarter from $400,000 for the corresponding quarter. Non-GAAP net profit more doubled to $1.9 million ($0.06 per share) from $900,000 for the corresponding quarter, including the $700,000 contribution from discontinued operations.
Magic's share rose 8 percent on Nasdaq yesterday to $1.90, giving a market cap of $60 million. The share rose 5.9 percent to NIS 7.27 by early afternoon on the TASE.
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