Sapiens International, which offers insurance solutions, has posted solid revenue of $27.2m, for the second quarter of 2012, up by 91% from $14.3m during the same period earlier year.

For the latest quarter period, its operating income rose by 65% to $2.8m, while Non-GAAP operating margin increased to 13.7%.

Non-GAAP operating profit increased by 81% to $3.7m for the second three months of 2012, against $2m during the same period last year.

For the quarter ended on 30 June, its non-GAAP net income rose by 77% to $3.5m, versus $2m during the comparable period a year ago.

Sapiens International CEO Roni Dor said the company continues to grow its revenues and improve the profitability of the consolidated organization, while capitalizing on increasing demand to its product portfolio.

"Halfway through our first full year following the merger, we are delivering revenues on our promise and reaching Non-GAAP operating margins of 13.7% which reflect steady improvement from previous quarters," Dor added.