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09.05.2013 12:05
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Metalink Reports First Quarter 2013 Results
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PR Newswire
TEL-AVIV, Israel, May 9, 2013
TEL-AVIV, Israel, May 9, 2013 /PRNewswire/ -- Metalink Ltd. (OTCQB: MTLK), today announced its unaudited financial results for the first quarter of 2013 ended March 31, 2013.
FINANCIAL RESULTS
Financial Highlights for the First Quarter of 2013: There were no revenues for the first quarter of 2013, compared to $513,000 for the first quarter of 2012; Net loss for the first quarter of 2013 was $89,000, or $0.03 per share, compared to net profit of $115,000, or $0.04 per share, for the first quarter of 2012.
Cash Status: Metalink's cash and cash equivalents, as of March 31, 2013 were $5.24 million.
FUTURE REPORTS
In light of its operating results, the Company is implementing a cost reduction plan. In connection therewith, the Company will no longer provide quarterly financial reports to the public. The next unaudited financial results for the second quarter of 2013 will be reported but should be considered the Company's last quarterly financial report.
ABOUT METALINK
Metalink shares are quoted on OTCQB under the symbol "MTLK". For more information, please see our public filings at the SEC's website at www.sec.gov.
SAFE HARBOR STATEMENT
This press release contains "forward looking statements" within the meaning of the United States securities laws. Words such as "aim," "expect," "estimate," "project," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believe," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties that could cause actual results to differ materially from those in the forward looking statements. Factors that could cause or contribute to such differences include, but are not limited to: absence of significant operations following the Lantiq transaction; uncertainty as to our future business model and our ability to identify and evaluate suitable business opportunities; and our U.S. shareholders may suffer adverse tax consequences if we will be classified as a passive foreign investment company. Additional factors that could cause actual results to differ materially from these forward-looking statements are set forth from time to time in Metalink's filings with the Securities and Exchange Commission, including Metalink's Annual Report in Form 20-F. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable law, the Company undertakes no obligation to republish or revise forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrences of unanticipated events. The Company cannot guarantee future results, events, and levels of activity, performance, or achievements.
| METALINK LTD. | |||
| | |||
| CONSOLIDATED BALANCE SHEETS | |||
| (in thousands except share data) | |||
| | | | |
| | March 31, | | December 31, |
| | 2013 | | 2012 |
| ASSETS | | | |
| Current assets | | | |
| Cash and cash equivalents | $ 5,243 | | $ 5,378 |
| Government institutions | 14 | | 26 |
| Prepaid expenses | 23 | | 2 |
| Inventories | 112 | | 112 |
| Total current assets | 5,392 | | 5,518 |
| | | | |
| Property and equipment, net | 4 | | 5 |
| | | | |
| Total assets | $ 5,396 | | $ 5,523 |
| | | | |
| LIABILITIES AND SHAREHOLDERS' EQUITY | | | |
| Current liabilities | | | |
| Trade accounts payable | $ 2 | | $ 1 |
| Other payables and current liabilities | 266 | | 310 |
| Dividend payable | 270 | | - |
| Total current liabilities | 538 | | 311 |
| | | | |
| Shareholders' equity | | | |
| Ordinary shares of NIS 1.0 par value (5,000,000 shares - authorized,
| 790 | | 790 |
| Additional paid-in capital | 158,116 | | 158,111 |
| Accumulated deficit | (144,163) | | (143,804) |
| | 14,743 | | 15,097 |
| | | | |
| Treasury stock, at cost; 89,850 as of | | | |
| March 31, 2013 and December 31, 2012 | (9,885) | | (9,885) |
| Total shareholders' equity | 4,858 | | 5,212 |
| | | | |
| Total liabilities and shareholders' equity | $ 5,396 | | $ 5,523 |
| METALINK LTD. | | ||
| | | ||
| CONSOLIDATED STATEMENTS OF OPERATIONS | | ||
| (in thousands, except share and per share data) | | ||
| | | | |
| | Three months ended March 31, | ||
| | 2013 | | 2012 |
| | (Unaudited) | | (Unaudited) |
| | | | |
| | | | |
| Revenues | $ - | | $ 513 |
| | | | |
| Cost of revenues | 3 | | 167 |
| | | | |
| Gross profit (loss) | (3) | | 346 |
| | | | |
| Sales and marketing | - Werbung Mehr Nachrichten zur Metalink Aktie kostenlos abonnieren
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