Sapiens (NASDAQ: SPNS) reported Q2 EPS of $0.13, $0.01 better than the analyst estimate of $0.12. Revenue for the quarter came in at $72.2 million versus the consensus estimate of $70.18 million.

• Revenue totaled $72.2 million, an increase of 4.5% compared to last year. Non-GAAP revenue increased 4.9% from the same period in the prior year to $72.5 million.
• Operating income totaled $4.9 million, up from an operating loss of $2.9 million last year. Non-GAAP operating income improved to $9.6 million, up from $3.2 million the same period in the prior year.
• Operating margin improved to 6.8% as compared to (4.3%) last year. Non-GAAP operating margin improved 850 basis points to 13.2%, compared to 4.7% last year.
• Net income attributable to Sapiens\' shareholders totaled $2 million, up from a net loss of $3.6 million last year. Non-GAAP net income attributable to Sapiens\' shareholders increased to $6.4 million from $1.9 million in the same period last year.
• GAAP Diluted earnings per share attributed to Sapiens\' shareholders of $0.04 comparted to $(0.07) per diluted share in the second quarter last year.
• Non-GAAP diluted earnings per share of $0.13 per diluted share compared to $0.04 per diluted share in the second quarter last year.
• Cash and cash equivalents of $59.2 million, and total debt of about $78 million as of June 30, 2018.

"In the second quarter, we continued to advance towards our key objectives of, expanding our P&C business in EMEA, and North America, while improving profitability," said Roni Al-Dor, president and CEO, Sapiens. "Our enhanced digital insurance offering along with our proven products and personnel are winning new business, particularly with our P&C platforms, where we are expanding our business with new and existing clients and building our pipeline for future growth. Due to efficiency and cost cutting programs and effectively leveraging our global assets, we expanded margins and improved profitability in the quarter. This quarter's results demonstrate our ability to expand our market leadership, particularly in the areas with the greatest client demand in the insurance market: digitalization, data analytics, and legacy transformation."

Mr. Al-Dor concluded: "Based on the strength of our first half growth and our outlook for the remainder of the year, we are raising our 2018 full year guidance for non-GAAP revenues of $285 to $290 million, up from prior guidance of $280 to $285 million.

We now expect full-year 2018 non-GAAP operating margins in the range of 13.0% - 13.2%, compared to our previous guidance of 12.0%-13.0%."

For earnings history and earnings-related data on Sapiens (SPNS) click here.