NETANYA, Israel, May 15, 2012 /PRNewswire/ --
Cellcom Israel implemented efficiency measures, which led to a decrease of approximately NIS 80 million in expenses and contributed to improved results in the first quarter 2012 compared with the fourth quarter 2011
Cellcom Israel declares a first quarter dividend of NIS 1.31 per share (totals approx. NIS 130 million), representing approximately 75% of net income
First Quarter 2012 Highlights  (compared to the first quarter 2011):
- Total Revenues totaled NIS 1,585 million ( $427 million), a 0.1% decrease
- Total Revenues from services totaled NIS 1,186 million ( $319 million), a 1.6% decrease
- Revenues from content and value added services (including SMS) increased 10.9%, representing approximately 33.4% of services revenues 
- EBITDA  totaled NIS 475 million ( $128 million), a 25.7% decrease
- EBITDA margin 30%, down from 40.3%
- Operating income totaled NIS 275 million ( $74 million), a 41.6% decrease
- Net income totaled NIS 173 million ( $47 million), a 43.5% decrease
- Free cash flow  to NIS 144 million ( $39 million), a 64.1% decrease
- Cellular Subscriber base totaled approx. 3.362 million at the end of March 2012
- 3G cellular subscribers reached approx. 1.388 million at the end of March 2012, representing 41.3% of total cellular subscriber base
- The Company declared first quarter dividend of NIS 1.31 per share
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