Internet Gold Golden Lines Ltd. (Nasdaq: IGLD; TASE:IGLD) today published its financial report for the first quarter of 2007. The company posted NIS 300.7 million revenue for the first quarter, up 224% on the NIS 92.9 million posted for the corresponding quarter of 2006.
Net profit totaled NIS 18.5 million (NIS 0.94 per share), up 162% on the NIS 6.6 million (NIS 0.36 per share) for the corresponding quarter, and was 207% more than for the preceding quarter. GAAP operating profit totaled NIS 33.6 million, compared with NIS 9.7 million for the corresponding quarter and NIS 13.4 million for the preceding quarter. Non-GAAP operating profit totaled NIS 39.3 million, 305% more than for the corresponding quarter and 193% more than for the preceding quarter. The company attributed the difference between the GAAP and non-GAAP operating profit to amortization expenses for the intangible assets acquired from 012.
The first quarter financials were the first to include 012 Golden Lines Ltd. acquired at the end of 2006.
Internet Gold CEO Eli Holtzman said, "The first quarter was an excellent period for Internet Gold from every perspective. The successful merger has tripled our revenues as compared with the first quarter of 2006 and quadrupled our operating income. The Internet Gold Group was successful in exhibiting high growth performance and we plan to continue focusing our efforts on generating growth into the future."
Published by Globes [online], Israel business news - www.globes.co.il - on May 15, 2007
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