Ampal - American Israel Corporation announces 1995 year-end results.NEW YORK--(BUSINESS WIRE)--April 1, 1996--Ampal-American Israel Israel, in the Bible Israel (ĭz`rēəl, ĭz`rāəl) [as understood by Hebrews,=he strives with God], according to the book of Genesis, name given to Jacob as eponymous ancestor of the Hebrews, the chosen people of God. Corporation announced today that net income for the year ended December December: see month. 31, 1995 was $2,166,000, compared to $7,334,000 for the same period in 1994. Net income in 1995 decreased primarily as a result of greater losses incurred by the Company's food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. subsidiary and decreased realized and unrealized gains Unrealized Gain A profit that results from holding on to an asset rather than cashing it in and using the funds. Notes: Let's say you own a stock that has doubled, but you haven't sold it yet. This is said to be an unrealized gain. on investments compared to those in 1994. Earnings per Class A share totaled $.08 in 1995 and $.27 in 1994. Revenues for 1995 were $78,151,000, compared to $80,943,000 in 1994. Total assets at December 31, 1995 were $349,325,000, compared to $342,880,000 in 1994. Shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. at December 31, 1995 was $164,415,000, compared to $173,494,000 at December 31, 1994. In 1995, with the exception of the food processing subsidiary, overall results of subsidiaries and investee companies improved. A recovery plan and new manager have been put in place at the food processing subsidiary. During 1995, the Company made approximately $60 million of new investments, primarily in connection with the acquisition of a 290,000 square-foot office building in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. which is approximately 45% rented to the Government of Israel, and in new high-tech high-tech also hi-tech adj. Informal Of, relating to, or resembling high technology. high-tech Adjective same as hi-tech Adj. 1. investments in Israel. Ampal and its subsidiaries acquire interests in businesses located in the State of Israel or that are Israel-related. An important objective of Ampal is to make investments in companies which take advantage of growth in Israel's domestic economy. Ampal and its subsidiaries have diversified diversified (di·verˑ·s interests in the following sectors: hotel and leisure-time, real estate, finance, energy distribution, basic industry, high technology and communications, as well as others. -0-
FINANCIAL HIGHLIGHTS
(In thousands, except earnings per share)
Three Months Ended Year Ended
December 31, December 31,
(unaudited)
1995 1994 1995 1994
Revenues $18,548 $19,214 $78,151 $80,943 Net (Loss) Income (906) 295 2,166 7,334 (Loss) Earnings per Class A Share $(.03) $.01 $.08 $.27 Total Assets 349,325 342,880 349,325 342,880 Shareholders Equity 164,415 173,494 164,415 173,494 -0- CONTACT: Lawrence Lefkowitz President (212) 782-2100 |
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