Internet service provider Internet Gold Golden Lines Ltd. (Nasdaq: IGLD; TASE:IGLD), controlled by Shaul Alovitz, published its financial report for the second quarter of 2007 today, which revealed significant growth in activity following the merger with 012 Golden Lines.
Company revenue totaled NIS 296.3 million ($69.7 million) a 209% increase over the corresponding quarter in 2006. On a pro-forma basis, (excluding the results for Golden Lines), this represented an increase of 12% compared with the corresponding quarter.
Internet Gold posted a net profit of NIS 22.5 million ($5.3 million), NIS 1.06 per share ($0.25), a 233% increase over the corresponding quarter. The company's earnings and revenue was slightly less than the analysts' consensus estimate which predicted revenue of $73.9 million, and earnings per share of $0.26.
012 Smile Communications CEO Stella Handler said, "We are pleased to report another solid quarter marked by record profits. The merger has taken our revenue and profitability to a new level, while also leveraging our launch of local telephony. The goal of our work plan is to take full advantage of these innovative services to drive significant future growth."
Internet Gold CEO Eli Holtzman added, "We are pleased to report that the progress on our merger plan continues to be on-track, and we are now entering its final stage."
Published by Globes [online], Israel business news - www.globes.co.il - on August 14, 2007
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