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v3.8.0.1

Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015
Revenues (Note 19): |  |  |
Software | $ 21,644 | $ 19,626 | $ 21,598
Maintenance and technical support | 30,386 | 25,885 | 22,908
Consulting services | 206,110 | 156,135 | 131,524
Total revenues | 258,140 | 201,646 | 176,030
Cost of revenues: |  |  |
Software | 9,564 | 8,674 | 7,836
Maintenance and technical support | 3,888 | 2,952 | 2,466
Consulting services | 161,709 | 121,756 | 102,919
Total cost of revenues | 175,161 | 133,382 | 113,221
Gross profit | 82,979 | 68,264 | 62,809
Operating costs and expenses: |  |  |
Research and development, net (Note 16a) | 6,942 | 5,839 | 4,888
Selling and marketing | 27,244 | 23,776 | 23,062
General and administrative | 22,837 | 17,562 | 13,425
Total operating costs and expenses | 57,023 | 47,177 | 41,375
Operating income | 25,956 | 21,087 | 21,434
Financial expense, net (Note 16b) | 1,711 | 430 | 685
Other income, net |  |  | 8
Income before taxes on income | 24,245 | 20,657 | 20,757
Taxes on income (Note 13) | 6,331 | 3,949 | 3,681
Net income | 17,914 | 16,708 | 17,076
Net income attributable to redeemable non-controlling interests | 1,536 | 4,520 | 639
Net income attributable to non-controlling interests | 936 | 281 | 239
Net income attributable to Magic Software Enterprises Shareholders | $ 15,442 | $ 11,907 | $ 16,198
Net earnings per share attributable to Magic Software Enterprises' shareholders (Note 18): |  |  |
Basic earnings per share | $ 0.35 | $ 0.27 | $ 0.37
Diluted earnings per share | $ 0.35 | $ 0.27 | $ 0.36

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