Ampal-American Israel Corporation Reports Second Quarter 2010 Financial Results
Ampal-American Israel Corporation (Nasdaq: AMPL), a holding company with experience in acquiring interests in various businesses with emphasis in recent years on energy, communications and related fields, today announced financial results for the first quarter ended June 30, 2010.
For the quarter ended June 30, 2010, Ampal recorded revenues of $207.1 million, compared to revenues of $95.3 million for the corresponding period in 2009.
Net loss for the quarter was ($1.2) million, or ($0.02) per basic and diluted share, compared to a net loss of ($13.4) million, or ($0.24) per basic and diluted share, for the corresponding period in 2009.
Ampal also noted that for the six-month period ended June 30, 2010, Ampal recorded revenues of $371.8 million compared to revenues of $206.0 million for the corresponding period of 2009.Net loss for the six-month period ended June 30, 2010 increased to ($10.0) million, or ($0.18) per basic and diluted share, compared to a net loss of ($0.9) million, or ($0.02) per basic and diluted share, for the corresponding period in 2009. As of June 30, 2010, the Company had cash, cash equivalents, other financial investments and deposits of $83.6 million. Ampal ended the quarter with total assets of $1,217.9 million and shareholders' equity of $204.0 million, as compared to $897.1 million and $235.6 million, respectively at June 30, 2009, and compared to $920.6 million and $222.0 million, respectively at December 31, 2009. 012 Smile Telecom Ltd. (“012 Smile”) results for the quarter ended June 30, 2010 were as follows:
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