v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:      
Net income $ 16,566us-gaap_ProfitLoss $ 16,856us-gaap_ProfitLoss $ 16,460us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 8,660us-gaap_DepreciationAndAmortization 8,380us-gaap_DepreciationAndAmortization 7,444us-gaap_DepreciationAndAmortization
Interest expenses related to liabilities in connection with acquisitions 0us-gaap_InterestAndDebtExpense 0us-gaap_InterestAndDebtExpense 48us-gaap_InterestAndDebtExpense
Accrued severance pay, net 0us-gaap_SeveranceCosts1 0us-gaap_SeveranceCosts1 8us-gaap_SeveranceCosts1
Loss on sale of property and equipment 0us-gaap_GainLossOnSaleOfPropertyPlantEquipment 10us-gaap_GainLossOnSaleOfPropertyPlantEquipment 0us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Stock-based compensation expenses 1,557us-gaap_ShareBasedCompensation 325us-gaap_ShareBasedCompensation 515us-gaap_ShareBasedCompensation
Amortization of marketable securities premium, accretion of discount 62us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 0us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 0us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Gain on sale of subsidiary's operation 0us-gaap_GainOrLossOnSaleOfStockInSubsidiary 0us-gaap_GainOrLossOnSaleOfStockInSubsidiary (136)us-gaap_GainOrLossOnSaleOfStockInSubsidiary
Decrease (increase) in trade receivables, net (9,378)us-gaap_IncreaseDecreaseInAccountsReceivable 473us-gaap_IncreaseDecreaseInAccountsReceivable 11us-gaap_IncreaseDecreaseInAccountsReceivable
Decrease (increase) in other long term and short term accounts receivable and prepaid expenses (23)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (397)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 145us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Increase in trade payables (342)us-gaap_IncreaseDecreaseInAccountsPayableTrade (700)us-gaap_IncreaseDecreaseInAccountsPayableTrade 780us-gaap_IncreaseDecreaseInAccountsPayableTrade
Increase (decrease) in accrued expenses and other accounts payable (303)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities (1,589)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities (2,279)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
Increase (decrease) in deferred revenues 191us-gaap_IncreaseDecreaseInDeferredRevenue (1,765)us-gaap_IncreaseDecreaseInDeferredRevenue (1,131)us-gaap_IncreaseDecreaseInDeferredRevenue
Change in deferred income taxes, net 1,204us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 687us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 1,083us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Net cash provided by operating activities 18,194us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 22,280us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 22,948us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:      
Capitalized software development costs (4,267)us-gaap_PaymentsToDevelopSoftware (4,713)us-gaap_PaymentsToDevelopSoftware (4,969)us-gaap_PaymentsToDevelopSoftware
Purchase of property and equipment (993)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (497)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (510)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Cash paid in conjunction with acquisitions, net of acquired cash (9,363)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (16,557)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (7,627)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Proceeds from sale of subsidiary's operation 0us-gaap_ProceedsFromDivestitureOfBusinesses 0us-gaap_ProceedsFromDivestitureOfBusinesses 136us-gaap_ProceedsFromDivestitureOfBusinesses
Proceeds from sale of property and equipment 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 60us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Proceeds from maturity of marketable securities 596us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 0us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 343us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Proceeds from short-term bank deposits 0us-gaap_ProceedsFromOtherDeposits 0us-gaap_ProceedsFromOtherDeposits 3,601us-gaap_ProceedsFromOtherDeposits
Change in loans to employees and other deposits ,net (58)us-gaap_PaymentsForOtherDeposits 0us-gaap_PaymentsForOtherDeposits (34)us-gaap_PaymentsForOtherDeposits
Investment in marketable securities (11,976)us-gaap_PaymentsToAcquireMarketableSecurities 0us-gaap_PaymentsToAcquireMarketableSecurities 0us-gaap_PaymentsToAcquireMarketableSecurities
Investment in short-term bank deposit 0us-gaap_PaymentsToAcquireShortTermInvestments 0us-gaap_PaymentsToAcquireShortTermInvestments (1,366)us-gaap_PaymentsToAcquireShortTermInvestments
Net cash used in investing activities (26,061)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (21,707)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (10,426)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:      
Proceeds from exercise of options by employees 204us-gaap_ProceedsFromStockOptionsExercised 1,462us-gaap_ProceedsFromStockOptionsExercised 309us-gaap_ProceedsFromStockOptionsExercised
Issuance of Ordinary shares, net 54,726us-gaap_ProceedsFromIssuanceOfCommonStock 0us-gaap_ProceedsFromIssuanceOfCommonStock 0us-gaap_ProceedsFromIssuanceOfCommonStock
Dividend paid (8,681)us-gaap_PaymentsOfDividends (7,787)us-gaap_PaymentsOfDividends (3,661)us-gaap_PaymentsOfDividends
Short-term credit, net 2,974us-gaap_ProceedsFromRepaymentsOfShortTermDebt (47)us-gaap_ProceedsFromRepaymentsOfShortTermDebt 14us-gaap_ProceedsFromRepaymentsOfShortTermDebt
Purchase of non-controlling interest 0us-gaap_PaymentsToMinorityShareholders (168)us-gaap_PaymentsToMinorityShareholders (87)us-gaap_PaymentsToMinorityShareholders
Long term loan received 0us-gaap_ProceedsFromIssuanceOfLongTermDebt 3,307us-gaap_ProceedsFromIssuanceOfLongTermDebt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt
Repayment of long-term loans (2,905)us-gaap_RepaymentsOfLongTermDebt (95)us-gaap_RepaymentsOfLongTermDebt 0us-gaap_RepaymentsOfLongTermDebt
Net cash used in financing activities 46,318us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (3,328)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (3,425)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate changes on cash and cash equivalents (1,070)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 145us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (64)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Increase (decrease) in cash and cash equivalents 37,381us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (2,610)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 9,033us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at the beginning of the year 35,134us-gaap_CashAndCashEquivalentsAtCarryingValue 37,744us-gaap_CashAndCashEquivalentsAtCarryingValue 28,711us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of the year 72,515us-gaap_CashAndCashEquivalentsAtCarryingValue 35,134us-gaap_CashAndCashEquivalentsAtCarryingValue 37,744us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplementary information on investing and financing activities not involving cash flows:      
Deferred acquisition payment 250mgic_DeferredPayment 1,581mgic_DeferredPayment 3,103mgic_DeferredPayment
Contingent acquisition payment 0mgic_ContingentPayment 3,981mgic_ContingentPayment 1,192mgic_ContingentPayment
Supplemental disclosure of cash flow activities:      
Income taxes 1,601us-gaap_IncomeTaxesPaid 1,519us-gaap_IncomeTaxesPaid 1,250us-gaap_IncomeTaxesPaid
Interest $ 74us-gaap_InterestPaid $ 34us-gaap_InterestPaid $ 17us-gaap_InterestPaid