Matrix It Ltd. Announces Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
March 12, 2017
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Matrix IT Ltd. announced consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported turnover of ILS 684,513,000 compared to ILS 586,549,000 a year ago. Operating profit was ILS 55,092,000 compared to ILS 47,559,000 a year ago. Profit before taxes was ILS 48,530,000 compared to ILS 43,328,000 a year ago. Net profit was ILS 33,813,000. EBITDA was ILS 62,883,000 compared to ILS 54,571,000 a year ago.
For the year, the company reported turnover of ILS 2,544,553,000 compared to ILS 2,280,150,000 a year ago. Operating profit was ILS 187,277,000 compared to ILS 160,106,000 a year ago. Profit before taxes was ILS 162,431,000 compared to ILS 136,179,000 a year ago. Net profit was ILS 114,294,000 compared to ILS 98,986,000 a year ago. EBITDA was ILS 212,293,000 compared to ILS 183,989,000 a year ago.
Matrix IT Ltd is an Israel-based information technology (IT) company that designs, manages and executes integration projects in Israel, developing software products and solutions, and implementing new technologies. Matrix IT is involved in designing and marketing software technologies and products for businesses. Its services portfolio falls into eight segments: Consulting, Integration and Infrastructure, Microsoft Dynamics CRM Global Services, Offshore Services, Outsourcing, Professional Services, Software Products, and Training and Deployment. It provides its services to clients operating in the of banking sector, defense, healthcare and medical, industry, retail and commerce, public and governmental sector, and in the telecommunication sector. The Company's subsidiaries include Matrix Global, XTIVIA, Tiltan, Effect, Media Tech HiTech, Financial Education Center, John Bryce, TACT and Tangram. On October 26, 2011, it divested its subsidiary maXimum ERP.