"Makhteshim Agan anticipates that its revenues for the third quarter ending September 30, 2006 will total approximately $405 million and that net income for the quarter will total approximately $26 million. The decline in the net income, compared to the corresponding period last year, mainly follows the difficult market conditions in the quarter in the agro-chemical industry, including Brazil.
This forecast is based on initial information available to the Company, and may change following additional sales by the end of the quarter, as well as a result of the processing and analysis of the financial figures when preparing the financial statements for the quarter, which are expected to be published November 8, 2006."
About Koor Industries
Koor Industries is a leading Israeli holding company, focusing on high-growth, internationally-oriented, Israeli companies. Koor actively invests in agrochemicals through Makhteshim Agan Industries (TASE: MAIN); in telecommunications through its holdings in ECI Telecom (NASDAQ: ECIL), ECTel (NASDAQ: ECTX) and Telrad Networks; in defense through Elbit Systems (NASDAQ: ESLT); and in venture capital through Koor Corporate Venture Capital. Koor's ADSs (American Depositary Shares) are traded on the New York Stock Exchange (NYSE: KOR) and Koor's Ordinary Shares are traded on the Tel Aviv Stock Exchange (TASE: KOR).
Company contact
Avital Lev, CPA, Investor Relations
Koor Industries Ltd.
Tel: +972-3-607-5111
Fax: +972-3-607-5110
Avital.lev@koor.com
IR Contacts
Ehud Helft/Kenny Green
GK International
Tel: +1-866-704-6710
Fax: +972-3-607-4711
ehud@gk-biz.com; kenny@gk-biz.com
Forward looking statements in this release involve a number of risks and uncertainties including, but not limited to, international market conditions, domestic political factors, technological developments, ability to finance operations, and other factors which are detailed in the Company's SEC filings.
