Sapiens International Corp. NV reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported operating profit of $1,489,000, net income of $1,035,000, net income attributable to sapiens of $1,035,000, or $0.05 per diluted share on revenues of $12,951,000 compared to operating profit of $709,000, net income of $388,000, net income attributable to sapiens of $375,000, or $0.02 per diluted share on revenues of $11,024,000 for the same period last year. On non-GAAP basis, the company reported operating profit of $1,680,000, net income of $1,226,000, or $0.06 per diluted share compared to operating profit of $1,137,000, net income of $803,000, or $0.04 per diluted share for the same period last year. For the nine months, the company reported operating profit of $3,829,000, net income of $2,939,000, net income attributable to sapiens of $2,939,000, or $0.14 per diluted share on revenues of $33,928,000 compared to operating profit of $1,711,000, net loss of $1,304,000, net loss attributable to sapiens of $1,351,000, or $0.06 per diluted share on revenues of $32,527,000 for the same period last year. On non-GAAP basis, the company reported operating profit of $4,413,000, net income of $3,523,000, or $0.16 per diluted share compared to operating profit of $2,348,000, net income of $714,000, or $0.03 per diluted share for the same period last year.

Sapiens International Corp. NV said that the company is looking for acquisition opportunities. Roni Al-Dor, Chief Executive Officer of Sapiens International said, �As the industry shows initial signs of recovery, we continue to find more opportunities to support the organic and non-organic growth of our customers and prospects.� He further added, �Looking forward, we will intend to continue to expand our market reach with growing focus on the insurance industry, and enhance our investment in INSIGHT - our insurance solutions suite. We are cautiously optimistic that the market trends will continue to generate new business opportunities in the future.� The company had $15.8 million in cash at the end of September. �We're reviewing various M&A options, which are another growth engine. There are items on the agenda, but we're not yet in talks,� Roni Al-Dor added.

Sapiens International Corp. NV has signed a settlement agreement with the Chief Scientist of the Israeli Ministry of Industry regarding the dispute between Sapiens and the OCS relating to alleged royalty payment obligations. Pursuant to the settlement agreement, Sapiens will pay the OCS an interim amount of ILS 6 million (approximately $1.6 million) and Sapiens will undergo a technological review by the OCS based on the results of which, the amount owing to the OCS will be determined. In addition, the liens imposed by the OCS will be removed and Sapiens will withdraw its petition to the High Court of Justice. The interim payment is covered by an existing provision in Sapiens' financial statements.