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Sapiens beats 3Q profit forecasts

HOLON, Israel (AP) _ Sapiens International Corp. (SPNS) on Thursday reported third-quarter net income of $2.9 million.

On a per-share basis, the Holon, Israel-based company said it had profit of 6 cents. Earnings, adjusted for one-time gains and costs, came to 13 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The provider of software and services to the insurance industry posted revenue of $72 million in the period.

Sapiens shares have fallen nearly 3 percent since the beginning of the year.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPNS at https://www.zacks.com/ap/SPNS