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Optibase Ltd. Announces Fourth 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

 
December 31,

2012

December 31,

2011

Unaudited Audited

Assets

Current Assets:  
Cash and cash equivalents 19,142 22,945
Restricted cash 134 131
Trade receivables 148 732
Other accounts receivables and prepaid expenses 217 1,267
Total assets attributed to discontinued operations 980 980
Total current assets 20,621 26,055
 
Long term deposit 50 45
Investments in companies and associates 7,993 100
Long term investments  

8,043

145

 
Real Estate Property, net 194,826 192,173
Other assets, net 1,392 1,512
Total property equipment and other assets 196,218 193,685
 
Total assets 224,882 219,885
 

Liabilities and shareholders' equity

Current Liabilities:
 
Current maturities of long term loans 2,597 2,529
Accounts payable and accrued expenses 3,476 4,060
Total liabilities attributed to discontinued operations 2,563 2,990
Total current liabilities 8,636 9,579
 
Long term liabilities:
Deferred tax liabilities 15,262 14,705
Land lease liability, net 7,290 7,175
Other long term liabilities 2,844 3,559
Long term loans, net of current maturities 124,298 123,606
Total long term liabilities 149,694 149,045
 
Total shareholders’ equity of Optibase Ltd 47,474 45,099
Non-controlling interests 19,078 16,162
Total shareholders' equity 66,552 61,261
 
Total liabilities and shareholders’ equity 224,882 219,885
 
Amounts in thousands




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