AmpalAmerican Israel Corp. (AMPL, Financial) filed Quarterly Report for the period ended 2010-06-30.
Ampalamerican Israel Corp. has a market cap of $102.8 million; its shares were traded at around $1.83 with and P/S ratio of 0.3. AMPL is in the portfolios of Jim Simons of Renaissance Technologies LLC.
In the six months ended June 30, 2010, the Company recorded a $10.6 million translation gain, as compared to a $12.0 million translation gain for the corresponding period in 2009. The decrease in translation gain is related to a change in the valuation of the New Israeli Shekel as compared to the U.S. Dollar, which increased 2.4% in the six months ended June 30, 2010, as compared to an increase of 3.6% for the corresponding period in 2009.
In the six months ended June 30, 2010, the Company recorded $371.8 million in revenue which was comprised of $227.2 million in the Chemicals segment, $130.2 million in the Communications segment, $13.0 million in the Finance segment and $1.5 million in the Leisure-time segment, as compared to $206.0 million for the same period in 2009, which was comprised of $186.3 million in the Chemicals segment, $18.4 million in the Finance segment and $1.3 million in the Leisure-time segment. The increase in Chemicals revenues is primarily attributable to the recovery in the markets, especially in Europe, which led to the increase in quantities sold and product prices. The demand for chemical carrier was still weak during the first six months of 2010. Average freight prices are slightly higher mainly as a result of a rise in prices for the Mediterranean to U.S. voyages.
In the six months ended June 30, 2010, the Company recorded $380.6 million in expenses which was comprised of $228.6 million of expenses in the Chemicals segment, $128.4 million of expenses in the Communications segment, $22.1 million of expenses in the Finance segment, $1.3 million of expenses in the Leisure-time segment and a $0.2 million loss in Equity in earnings of affiliates, as compared to $205.0 million in expenses for the same period in 2009 which was comprised of $188.0 million of expenses in the Chemicals segment, $15.9 million of expenses in the Finance segment, $1.0 million of expenses in the Leisure-time segment and a $0.3 million loss in Equity in earnings of affiliates. The chemical commodity pricing is a derivative of the crude oil pricing. During the period of six months ended June 30, 2010, the crude oil's price slightly increase and led to a moderate increase in the Chemical commodity prices.
In the three months ended June 30, 2010, the Company recorded $15.2 million of marketing and sales expense, as compared to a $1.7 million marketing and sales expense in the corresponding period in 2009. These expenses are attributable to Gadot and 012 Smile and composed mainly of salary and commission expenses. The increase is primarily the result of the marketing and sales expense of 012 Smile which the Company included for the first time in 2010, amounting to $13.5 million.
In the three months ended June 30, 2010, the Company recorded $207.1 million in revenue which was comprised of $112.8 million in the Chemicals segment, $78.1 million in the Communications segment, $15.4 million in the Finance segment and $0.8 million in the Leisure-time segment, as compared to $95.3 million for the same period in 2009, which was comprised of $91.6 million in the Chemicals segment, $3.1 million in the Finance segment and $0.6 million in the Leisure-time segment. The increase in Chemicals revenues is primarily attributable to the recovery in the markets, especially in Europe, which led to the increase in quantities sold and product prices. The demand for chemical carrier was still weak during the first six months of 2010. Average freight prices are slightly higher mainly as a result of a rise in prices for the Mediterranean to U.S. voyages.
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Ampalamerican Israel Corp. has a market cap of $102.8 million; its shares were traded at around $1.83 with and P/S ratio of 0.3. AMPL is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
In the six months ended June 30, 2010, the Company recorded $26.1 million of marketing and sales expense, as compared to a $3.4 million marketing and sales expense in the corresponding period in 2009. These expenses are attributable to Gadot and 012 Smile and composed mainly of salary and commission expenses. The increase is primarily the result of the marketing and sales expense of 012 Smile which the Company included for the first time in 2010, amounting to $22.1 million.In the six months ended June 30, 2010, the Company recorded a $10.6 million translation gain, as compared to a $12.0 million translation gain for the corresponding period in 2009. The decrease in translation gain is related to a change in the valuation of the New Israeli Shekel as compared to the U.S. Dollar, which increased 2.4% in the six months ended June 30, 2010, as compared to an increase of 3.6% for the corresponding period in 2009.
In the six months ended June 30, 2010, the Company recorded $371.8 million in revenue which was comprised of $227.2 million in the Chemicals segment, $130.2 million in the Communications segment, $13.0 million in the Finance segment and $1.5 million in the Leisure-time segment, as compared to $206.0 million for the same period in 2009, which was comprised of $186.3 million in the Chemicals segment, $18.4 million in the Finance segment and $1.3 million in the Leisure-time segment. The increase in Chemicals revenues is primarily attributable to the recovery in the markets, especially in Europe, which led to the increase in quantities sold and product prices. The demand for chemical carrier was still weak during the first six months of 2010. Average freight prices are slightly higher mainly as a result of a rise in prices for the Mediterranean to U.S. voyages.
In the six months ended June 30, 2010, the Company recorded $380.6 million in expenses which was comprised of $228.6 million of expenses in the Chemicals segment, $128.4 million of expenses in the Communications segment, $22.1 million of expenses in the Finance segment, $1.3 million of expenses in the Leisure-time segment and a $0.2 million loss in Equity in earnings of affiliates, as compared to $205.0 million in expenses for the same period in 2009 which was comprised of $188.0 million of expenses in the Chemicals segment, $15.9 million of expenses in the Finance segment, $1.0 million of expenses in the Leisure-time segment and a $0.3 million loss in Equity in earnings of affiliates. The chemical commodity pricing is a derivative of the crude oil pricing. During the period of six months ended June 30, 2010, the crude oil's price slightly increase and led to a moderate increase in the Chemical commodity prices.
In the three months ended June 30, 2010, the Company recorded $15.2 million of marketing and sales expense, as compared to a $1.7 million marketing and sales expense in the corresponding period in 2009. These expenses are attributable to Gadot and 012 Smile and composed mainly of salary and commission expenses. The increase is primarily the result of the marketing and sales expense of 012 Smile which the Company included for the first time in 2010, amounting to $13.5 million.
In the three months ended June 30, 2010, the Company recorded $207.1 million in revenue which was comprised of $112.8 million in the Chemicals segment, $78.1 million in the Communications segment, $15.4 million in the Finance segment and $0.8 million in the Leisure-time segment, as compared to $95.3 million for the same period in 2009, which was comprised of $91.6 million in the Chemicals segment, $3.1 million in the Finance segment and $0.6 million in the Leisure-time segment. The increase in Chemicals revenues is primarily attributable to the recovery in the markets, especially in Europe, which led to the increase in quantities sold and product prices. The demand for chemical carrier was still weak during the first six months of 2010. Average freight prices are slightly higher mainly as a result of a rise in prices for the Mediterranean to U.S. voyages.
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