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RRsat Reports Second Quarter 2012 Revenues

Stocks in this article: RRST

RRsat Global Communications Network Ltd. (NASDAQ: RRST) provides global, end-to-end, content management and distribution services to the rapidly expanding television and radio broadcasting industries, covering more than 150 countries. Through its RRsat Global Network, composed of satellite and terrestrial fiber optic capacity and the public Internet, RRsat provides high-quality and flexible global distribution services 24/7 to more than 630 channels reaching multiplatform operators, Internet TV and direct-to-home viewers worldwide and also offers occasional use services for sports, news and events with a fleet of flyaways and over 10 transportable satellite news gathering services (SNG) units. More than 130 television and radio channels use RRsat's advanced production and playout centers comprising comprehensive media asset management services. Visit the company's website http://www.rrsat.com

FINANCIAL TABLES FOLLOW

RRsat Global Communications Network Ltd. and its Subsidiaries

Consolidated Statements of Operations

    In thousands, except share data
 
                                                                       Three months
                                               Six months ended           ended
                                              ---------------------------------------
                                                                      June       June
                                               June 30    June 30       30         30
                                                  2012       2011     2012       2011
                                              --------  --------- ---------  --------
    Revenues                                  $ 55,527   $ 55,448 $ 28,068   $ 28,518
    Cost of revenues                            42,726     42,692   21,401     21,955
                                              --------  --------- ---------  --------
    Gross profit                                12,801     12,756    6,667      6,563
                                              --------  --------- ---------  --------
    Operating expenses
    Sales and marketing                          3,347      3,454    1,736      1,710
    General and administrative                   5,025      4,805    2,455      2,358
                                              --------  --------- ---------  --------
    Total operating expenses                     8,372      8,259    4,191      4,068
                                              --------  --------- ---------  --------
    Operating income                             4,429      4,497    2,476      2,495
 
    Interest and marketable
    securities income                              301        222      147        106
    Currency fluctuation and
    other financing income (expenses), net       (233)        282    (393)         92
    Changes in fair value of
    embedded currency
    conversion derivatives                         312    (1,191)    (315)      (191)
                                              --------  --------- ---------  --------
    Income before taxes on
    income                                       4,809      3,810    1,915      2,502
 
    Income taxes                               (1,391)      (861)    (775)      (422)
                                              --------  --------- ---------  --------
    Net income                                 $ 3,418    $ 2,949  $ 1,140    $ 2,080
                                              ========  ========= =========  ========

RRsat Global Communications Network Ltd. and its Subsidiaries

Consolidated Statements of Operations (cont'd)

    In thousands, except share data
 
                                       Six months ended             Three months ended
                              ----------------------------------------------------------
                                 June 30           June 30     June 30           June 30
                                    2012              2011        2012              2011
                              ----------        ----------  ----------        ----------
    Income per ordinary share
 
    Basic income per ordinary
    share                          $0.20             $0.17       $0.07             $0.12
                              ==========        ==========  ==========       ===========
    Diluted income per
    ordinary share                 $0.20             $0.17       $0.07             $0.12
                              ==========        ==========  ==========       ===========
    Weighted average number
    of ordinary shares used to
    compute basic earnings per
    ordinary share            17,346,561        17,346,561  17,346,561        17,346,561
                              ==========        ==========  ==========       ===========
    Weighted average number
    of ordinary shares used to
    compute diluted earnings
    per ordinary share        17,346,561        17,356,186  17,346,561        17,354,477
                              ==========        ==========  ==========       ===========

RRsat Global Communications Network Ltd. and its Subsidiaries

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