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Industry: Email Alert RSS FeedEarnings Report: Elron Electronics Industries Ltd
Computergram International, August 10, 1999
Elron Electronics Industries Ltd, the Israeli technology holding company, has reported second-quarter net income of $16.4m on total revenue of $41.7m, compared to net income of $3.1m on revenue of $9.0m in the year-ago quarter. Earnings per share for the quarter amounted to $0.78, including an after-tax gain of $19.7m from the disposal of assets.
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Analysts surveyed by First Call were expecting net income of $0.29 per share for the quarter. Revenue includes $9.8m (a 178% year-over-year gain) from the wholly-owned US subsidiary Elron Software Inc as well as gains from changes in the company's holdings of $31.4m For the six-month period, net income fell 51.8% to $21.1m on revenue up 2.8% at $57.4m. Year-ago revenue includes $36.6m as the share in income of affiliated companies. Elron Software sales for the six months were up 145% at $18.9m.
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