OR YEHUDA, Israel (AP) _ Formula Systems (1985) Ltd. (FORTY) on Wednesday reported fourth-quarter profit of $11.9 million.

On a per-share basis, the Or Yehuda, Israel-based company said it had net income of 76 cents.

The information technology company posted revenue of $543.2 million in the period.

For the year, the company reported profit of $46.8 million, or $3.01 per share. Revenue was reported as $1.93 billion.

Formula Systems shares have increased almost 6% since the beginning of the year. The stock has more than doubled in the last 12 months.

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