SAPIENS REPORTS Q1 2012 RESULTS

SAPIENS Q1 2012 REVENUE NEARLY DOUBLED YEAR OVER YEAR REACHING $26 MILLION

First Quarter 2012 Highlights Include:

• Revenue increased 95% to $26.0 million, compared to $13.3 million in the first quarter of 2011;
• Non-GAAP net income increased 63% to $3.2 million compared to $2.0 million for first quarter of 2011;
• Non-GAAP operating profit increased 63% to $3.3 million, compared to $2.0 million in first quarter of 2011;
• Non-GAAP EPS is $0.08 per diluted share, compared to $0.08 per diluted share in first quarter of 2011;
• Three Sapiens Clients, Philadelphia Insurance Companies, DirectAsia.com, and L&T General Insurance, Named Winners of Celent Model Insurer Awards;
• Announced a new release of the IDIT™ Software Suite;
• The Company ended the quarter with $27.1 million in cash, compared to $21.5 million at December 31, 2011.

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