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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:      
Software $ 24,272 $ 28,084 $ 25,454
Maintenance and technical support 33,181 30,996 30,951
Consulting services 313,741 266,550 227,970
Total revenues 371,194 325,630 284,375
Cost of revenues:      
Software 10,487 10,220 9,960
Maintenance and technical support 3,598 4,167 4,120
Consulting services 247,517 209,114 181,477
Total cost of revenues 261,602 223,501 195,557
Gross profit 109,592 102,129 88,818
Operating costs and expenses:      
Research and development, net 8,789 8,239 5,696
Selling and marketing 31,160 30,454 27,197
General and administrative 27,967 29,529 24,265
Change in valuation of contingent consideration related to acquisitions 1,088 255 (38)
Total operating costs and expenses 69,004 68,477 57,120
Operating income 40,588 33,652 31,698
Financial income (expenses), net (917) (1,169) 153
Increase in valuation of consideration related to acquisitions (2,268) (11) (4)
Income before taxes on income 37,403 32,472 31,847
Taxes on income 7,286 6,874 7,071
Net income 30,117 25,598 24,776
Net income attributable to redeemable non-controlling interests 2,526 3,111 3,383
Net income attributable to non-controlling interests 2,405 2,221 1,510
Net income attributable to Magic Software Enterprises shareholders $ 25,186 $ 20,266 $ 19,883
Net earnings per share attributable to Magic Software Enterprises’ shareholders:      
Basic and Diluted earnings per share (in Dollars per share) $ 0.49 $ 0.26 $ 0.39