Metalink Reports Second Quarter 2012 Results

TEL-AVIV, Israel, July 30, 2012 /PRNewswire/ --

Metalink Ltd. (OTCQB: MTLK), today announced its unaudited financial results for the second quarter of 2012 ended June 30, 2012.

FINANCIAL RESULTS

Financial Highlights for the Second Quarter of 2012: Revenues for the second quarter of 2012 were $544,000, compared to $810,000 for the second quarter of 2011; Net profit for the second quarter of 2012 was $138,000, or $0.05 per share, compared to net profit of $327,000, or $0.12 per share, for the second quarter of 2011.

Cash Status: Metalink's cash and cash equivalents, as of June 30, 2012 were $4.72 million.

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 http://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)

   
                                                    June 30,       December 31,
                                                    2012           2011
                                                    (Unaudited)
   ASSETS
   Current assets
   Cash and cash equivalents                           $ 4,720        $ 5,321
   Trade accounts receivable                               453             39
   Government institutions                                  29              9
   Prepaid expenses                                         29              3
   Inventories                                             299            252
   Total current assets                                  5,530          5,624

   Property and equipment, net                               6             67

   Total assets                                        $ 5,536        $ 5,691

   LIABILITIES AND SHAREHOLDERS' EQUITY
   Current liabilities
   Trade accounts payable                                  $ -           $ 30
   Other payables and current liabilities                  409            497
   Accrued severance pay                                     -            290
   Total current liabilities                               409            817

   Shareholders' equity
   Ordinary shares of NIS 1.0 par value
   (Authorized - 5,000,000 shares, issued and
   outstanding - 2,780,707 shares (including
   treasury stocks) as of June 30, 2012 and
   December 31, 2011)                                      790            790
   Additional paid-in capital                          158,111        158,111
   Accumulated deficit                                (143,889)      (144,142)
                                                        15,012         14,759

   Treasury stock, at cost; 89,850 as of
   June 30, 2012 and December 31, 2011                  (9,885)        (9,885)
   Total shareholders' equity                            5,127          4,874

   Total liabilities and shareholders' equity          $ 5,536        $ 5,691



METALINK LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

   
                                 Three months ended      Six months ended
                                       June 30,              June 30,
                                   2012         2011       2012      2011
                                    (Unaudited)            (Unaudited)
                                   (in thousands, except share and per
                                               share data)

   
   Revenues                         $ 544      $ 810    $ 1,057     $ 909

   Costs of revenues                  214        257        381       262

   Gross profit                       330        553        676       647

   Sales and marketing                 96          -        196         -

   General and administrative          79        238        242       314

   Operating profit                   155        315        238       333

   Financial income, net                -         12         32        21

   Net profit from continuing
   operation                        $ 155      $ 327      $ 270     $ 354

   Other expenses                      17          -         17         -

   Net profit                       $ 138      $ 327      $ 253     $ 354

   Per share data-

   Basic and Diluted earnings      $ 0.05     $ 0.12     $ 0.09    $ 0.13

   Shares used in computing
   earnings per ordinary
   share:
   Basic and Diluted (not
   including 89,850 treasury
   stocks)                      2,690,857  2,690,857  2,690,857 2,690,857



Contact:

Shay Evron, CFO
Metalink Ltd.
Tel: +972-3-7111690
Fax: +972-3-7111691
Shay.Evron@il.gt.com

SOURCE Metalink Ltd



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