Ampal-American Israel Corporation Reports Third Quarter 2012 Financial Results

TEL AVIV, Israel, Nov. 13, 2012 (GLOBE NEWSWIRE) — Ampal-American Israel Corporation (Nasdaq:AMPL), a holding company with experience in acquiring interests in various businesses with emphasis in recent years on energy, chemical and related fields, today announced financial results for the third quarter ended September 30, 2012.

For the quarter ended September 30, 2012, Ampal recorded revenues of $107.9 million, compared to revenues of $140.5 million for the corresponding period in 2011.

Net loss for the quarter was ($2.9) million, or ($1.03) per basic and diluted share, compared to a net loss of $(20.3) million, or ($7.21) per basic and diluted share, for the corresponding period in 2011 (the number of Ampal’s shares was retroactively adjusted to reflect a reverse stock split (effective at 5:00 pm EDT on July 20, 2012) in accordance with Ampal’s announcement dated July 16, 2012).
As of September 30, 2012, the Company had cash, cash equivalents, other financial investments and deposits of $52.7 million.

 

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