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

Internet Gold Reports Second Quarter 2011 Financial Results

For more information, please visit the following Internet sites: http://ir.bezeq.co.il http://www.eurocom.co.il http://www.bcommunications.co.il

Forward-Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the industry, changes in the regulatory and legal compliance environments, the failure to manage growth and other risks detailed from time to time in B Communications’s filings with the Securities Exchange Commission. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.

Internet Gold - Golden Lines Ltd.

Consolidated Statements of Financial Position
       
Convenience
translation into
U.S. dollars
June 30 June 30 June 30 December 31
2011 2011 2010 2010
(Unaudited) (Unaudited) (Unaudited) (Audited)
NIS millions US$ millions NIS millions NIS millions
Assets
Cash and cash equivalents 548 160 365 404
Investments including derivatives 675 198 547 1,029
Trade receivables 2,855 836 2,689 2,701
Other receivables 237 69 284 228
Inventory 277 81 169 177
Current tax assets 2 1 - 3
Assets classified as held-for-sale 151 44 38 219
 
Total current assets 4,745 1,389 4,092 4,761
 
Investments including derivatives 112 33 138 129
Long-term trade receivables 1,474 432 940 1,114
Property, plant and equipment 7,487 2,192 5,514 7,392
Intangible assets 8,643 2,531 14,932 9,163
Deferred and other expenses 396 116 687 423

Investments in equity-accounted investee (mainly loans)
1,050 307 1,136 1,084
Deferred tax assets 259 76 337 254
 
Total non-current assets 19,421 5,687 23,684 19,559
 
 
Total assets 24,166 7,076 27,776 24,320
 

Internet Gold - Golden Lines Ltd.
Consolidated Statements of Financial Position
       
Convenience
translation into
U.S. dollars
June 30 June 30 June 30 December 31
2011 2011 2010 2010
(Unaudited) (Unaudited) (Unaudited) (Audited)
NIS millions US$ millions NIS millions NIS millions
Liabilities

Short-term bank credit, current maturities of long-term liabilities and debentures
1,789 524 2,155 1,501
Trade payables 1,005 294 1,033 1,066
Other payables including derivatives 996 292 774 817
Dividend payable 668 196 - -
Current tax liabilities 309 90 254 346
Deferred income 39 11 33 34
Provisions 253 74 371 251
Employee benefits 488 143 454 269
Liabilities classified as held-for-sale 4 1 - 21
Total current liabilities 5,551 1,625 5,074 4,305
 
Debentures 3,692 1,081 2,817 3,546
Bank loans 6,651 1,948 5,869 6,138
Loans from institutions and others 546 160 - 541
Dividend payable 941 276 - -
Employee benefits 267 78 295 305
Deferred income and other liabilities 155 45 5 150
Provisions 70 20 73 69
Deferred tax liabilities 1,361 399 2,474 1,555
Total non-current liabilities 13,683 4,007 11,533 12,304
 
Total liabilities 19,234 5,632 16,607 16,609
 
Equity
 

Total equity attributable to Company's shareholders
38 11 432 295
Non-controlling interest 4,894 1,433 10,737 7,416
Total equity 4,932 1,444 11,169 7,711
 
Total liabilities and equity 24,166 7,076 27,776 24,320
 

Internet Gold - Golden Lines Ltd.

Consolidated Statements of Operations
         
Six months period ended Three months period ended Year ended
June 30, June 30, December 31,
  Convenience     Convenience  
translation translation
into into
U.S. dollars U.S. dollars
2011 2011 2010 2011 2011 2010 2010
NIS millions US$ millions NIS millions NIS millions US$ millions NIS millions NIS millions
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
Revenues 5,809 1,701 2,605 2,895 848 2,586 8,732
 
Cost and expenses
Depreciation and amortization 1,399 409 485 699 205 484 2,295
Salaries 1,075 315 439 540 158 437 1,500

General and operating expenses
2,268 664 1,089 1,135 332 1,076 3,711

Other operating expenses (income), net
276   81   (54 ) 29   9   (11 ) (3 )
 
5,018   1,469   1,959   2,403   704   1,986   7,503  
 
Operating income 791 232 646 492 144 600 1,229
 
Financing expenses, net 287   84   189   153   45   136   389  
 

Income after financing expense, net
504 148 457 339 99 464 840
 

Share in losses of equity-accounted investee
137   40   83   72   21   83   235  
 
Income before income tax 367 108 374 267 78 381 605
Income tax 204   60   168   116   34   147   385  
 
Net income 163   48   206   151   44   234   220  
 
Attributable to:
Owners of the Company (97 ) (28 ) (77 ) (33 ) (10 ) (43 ) (209 )
Non-controlling interest 260   76   283   184   54   277   429  
Net income 163   48   206   151   44   234   220  
 

Income (loss) per share, basic
Net income (loss) per share (5.10 ) (1.49 ) (4.07 ) (1.68 ) (0.49 ) (2.22 ) (11.11 )

 

Income (loss) per share, diluted
Net income (loss) per share (5.15 ) (1.51 ) (4.07 ) (1.72 ) (0.50 ) (2.32 ) (11.23 )
 

3 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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs