Optibase Ltd. Announces Third Quarter Results

(*) All shares, options, and earnings per share amounts have been retroactively adjusted for all periods presented to reflect the 1:5 reverse stock split approved by the Company’s board of directors and shareholders on July 2, 2012 and August 16, 2012 respectively.

Condensed Consolidated Balance Sheets
		September 30, 2012		December 31, 2011
		Unaudited		Audited
Assets
Current Assets:
Cash and cash equivalents		26,064		22,945
Restricted cash		128		131
Trade receivables		343		732
Other accounts receivables and prepaid expenses		257		1,260
Total assets attributed to discontinued operations		966		969
Total current assets		27,758		26,037
Long term investments		62		156
Equipment, net		5		7
Real Estate Property, net		191,151		192,173
Other assets, net		1,400		1,512
Total property equipment and other assets		192,556		193,692
Total assets		220,376		219,885
Liabilities and shareholders' equity
Current Liabilities:
Current maturities of long term loans		2,539		2,529
Trade payables		19		27
Other accounts payable and accrued expenses		3,578		4,130
Total liabilities attributed to discontinued operations		2,746		2,990
Total current liabilities		8,882		9,676
Long term liabilities:
Deferred tax liabilities		14,761		14,608
Land lease liability, net		7,146		7,175
Other long term liabilities		3,084		3,559
Long term loans, net of current maturities		122,182		123,606
Total long term liabilities		147,173		148,948
Total shareholders’ equity of Optibase Ltd		46,379		45,099
Non-controlling interests		17,942		16,162
Total shareholders' equity		64,321		61,261
Total liabilities and shareholders’ equity		220,376		219,885
Amounts in thousands

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