This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Optibase Ltd. Announces Third Quarter Results

Stocks in this article: OBAS

Optibase Ltd. (NASDAQ: OBAS) today announced financial results for the third quarter ended September 30, 2011.

Revenues from fixed income real estate totaled $4 million for the quarter ended September 30, 2011, compared to revenues of $400,000 for the third quarter of 2010 and $3.8 million for the second quarter of 2011.

Net loss for the third quarter ended September 30, 2011 was $1.2 million or $0.06 per basic and diluted share, compared to a net income of $5.9 million or $0.36 per basic and diluted share for the third quarter of 2010 and to a net loss of $113,000 or $0.01 per basic and diluted for the second quarter of 2011.

Weighted average shares outstanding used in the calculation for the periods were approximately 19.1 million basic and diluted shares, 16.6 million basic and diluted shares and 18.1 million basic and diluted shares respectively.

The results for the third quarter of 2011 include financial expenses of $3.9 million of which approximately $2.5 million are non-cash expenses attributed to interest rate SWAP derivative which was marked to market, compared to $952,000 in the previous quarter.

For the nine months ended September 30, 2011, revenues totaled $9.1 million, compared with $1.2 million for the nine months ended September 30, 2010. Net loss for the period was $23,000 or $0 per basic and diluted share, compared to a net Income of $5.3 million or $0.32 per basic and diluted share for the nine months ended September 30, 2010.

Weighted average shares outstanding used in the calculation for the periods were approximately 17.9 million basic and 18 million diluted shares and 16.6 million basic and diluted shares respectively.

As of September 30, 2011, we had cash, cash equivalents, and other financial investments, net, of $12.9 million, and shareholders' equity of $71 million, compared with $12.9 million, and $74.8 million, respectively, as of June 30, 2011.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,177.79 -239.06 -1.37%
S&P 500 2,000.98 -20.27 -1.00%
NASDAQ 4,646.8180 -36.5890 -0.78%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs