Tag Archives: Amir Philips

Optibase Ltd. Announces Availability of Its Annual Reports on Form 20-F Through Its Website

By Business Wirevia The Motley Fool

Filed under:

Optibase Ltd. Announces Availability of Its Annual Reports on Form 20-F Through Its Website

HERZLIYA, Israel–(BUSINESS WIRE)– Optibase Ltd. (Nasdaq: OBAS) today announced that its annual report on Form 20-F, containing audited consolidated financial statements for the year ended December 31, 2012, as filed with the Securities and Exchange Commission on March 14, 2013, is available through its website (www.optibase-holdings.com). Shareholders may receive a hard copy of the annual report free of charge upon request. This press release is being issued pursuant to NASDAQ Listing Rule 5250(d)(1)(C).

About Optibase

Optibase invests in the fixed-income real estate field and currently holds properties and beneficial interest in real-estate assets and projects in Switzerland and in Texas, Philadelphia, PA and Miami, FL, USA and is currently looking for additional real estate investment opportunities. Optibase was previously engaged in the field of digital video technologies until the sale of its video solutions business to Optibase Technologies Ltd., a wholly owned subsidiary of VITEC Multimedia (“Vitec”) in July 2010. For further information, please visit www.optibase-holdings.com.

Media Contacts:
Optibase Ltd.
Amir Philips, CEO
011-972-73-7073-700
info@optibase-holdings.com
or
Investor Relations Contact:
KCSA for Optibase
Marybeth Csaby, +1-212-896-1236
mcsaby@kcsa.com

KEYWORDS:   Middle East  Israel

INDUSTRY KEYWORDS:

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Source: FULL ARTICLE at DailyFinance

Optibase Ltd. Announces Fourth Quarter Results

By Business Wirevia The Motley Fool

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Optibase Ltd. Announces Fourth Quarter Results

HERZLIYA, Israel–(BUSINESS WIRE)– Optibase Ltd. (Nasdaq: OBAS) today announced financial results for the fourth quarter ended December 31, 2012.

Revenues from fixed income real estate totaled $3.4 million for the quarter ended December, 2012, compared to revenues of $3.4 million for the fourth quarter of 2011 and $3.3 million for the third quarter of 2012.

Net Income for the fourth quarter ended December 31, 2012 was $497,000 or $0.13 per basic and diluted share, compared to a net loss of $433,000 or $0.11 per basic and diluted share for the fourth quarter of 2011 and to a net income of $464,000 or $0.12 per basic and diluted for the third quarter of 2012.

Weighted average shares outstanding used in the calculation for the periods were approximately 3.8 million basic and diluted shares.

For the year ended December 31, 2012, revenues totaled $13.7 million, compared with $12.5 million for the year ended December 31, 2011. Net income was $1.6 million or $0.41 per basic and diluted share, compared to a net loss of $239,000 or $0.07 per basic and diluted share for the year ended December 31, 2011.

Weighted average shares outstanding used in the calculation were approximately 3.8 million basic and diluted shares and 3.6 million basic and diluted shares respectively.

As of December 31, 2012, we had cash, cash equivalents, restricted cash and other financial investments, net, of $19.3 million, and shareholders’ equity of $66.6 million, compared with $26.2 million, and $64.3 million, respectively, as of September 30, 2012.

During the fourth quarter we invested an amount of approximately $4 million to acquire a 19.66% indirect beneficial interest in the owner of a property located at Two Penn Center Plaza in Philadelphia. In addition, we have acquired a 4% beneficial interest in a portfolio of Texas shopping centers in consideration for $4 million. For further information please see our press releases dated October 12, 2012 and December 19, 2012.

Amir Philips, Chief Executive Officer of Optibase commented on the quarter and years’ results: “We are pleased with our fourth quarter and full year performance. During the quarter we continued executing on our strategy of diversifying and upgrading the quality of our real estate portfolio by completing our investments in Two Penn Center Plaza and in Texas shopping centers. Amir concluded, “We are currently evaluating additional investment opportunities which we hope will materialize in the coming months.”

About Optibase
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Source: FULL ARTICLE at DailyFinance