This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ampal-American Israel Corporation Reports Third 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 third quarter ended September 30, 2010.

For the quarter ended September 30, 2010, revenues were $205.4 million, compared to revenues of $107 million for the corresponding period of 2009.

Net loss for the quarter was ($25.8) million, or ($0.46) per basic and diluted share compared to a net loss of ($18) million, or ($0.32) per basic and diluted share, for the corresponding period in 2009.

The net loss includes the impact of translation loss resulting from the depreciation of the U.S. Dollar against the New Israeli Shekel and the increase of the Israeli Consumer Price Index of approximately ($17) million, the accounting loss from the Price Purchase Allocation and intangible asset amortizations of Ampal and Ampal's holdings in Gadot Chemical Tankers and Terminals Ltd. (“Gadot”) and 012 Smile Telecom Ltd. (“012 Smile”) of approximately ($11) million. Excluding these items, there was approximately a $2 million gain for the quarter 1.

Ampal also noted that for the nine-month period ended September 30, 2010, revenues were $577.3 million compared to revenues of $311.4 million for the corresponding period of 2009.

Net loss for the nine-month period was ($35.8) million, or ($0.64) per basic and diluted share compared to a net loss of ($19.2) million, or ($0.34) per basic and diluted share, for the corresponding period in 2009.

The net loss includes the impact of translation loss resulting from the depreciation of the U.S. Dollar against the New Israeli Shekel and the increase of the Israeli Consumer Price Index of approximately ($9) million, and the accounting loss from the Price Purchase Allocation and intangible asset amortizations of Ampal and Ampal's holdings in Gadot and 012 Smile of approximately ($30) million. Excluding these items, there was approximately a $3 million gain for the nine months ended September 30, 2010.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs