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Metalink Ltd. (MTLK) Reports Loss in Third Quarter

Metalink Ltd. reported a net loss of $4.0 million, or $0.16 per share, in the third quarter of 2009. These results were slightly worse than the $3.0 million, or $0.13 per share, the company lost in the same quarter last year. Revenues were $500,000 in the third quarter of 2009 compared to $800,000 in the same quarter last year.

Metalink Ltd. has had a difficult time during the recession due to a drop in orders from its customers. The company received a warning from its auditors in March 2009, expressing doubts about its ability to continue as a going concern.

Although Metalink Ltd. held cash and equivalents of $3.8 million as of September 30, 2009, the company has significant short-term debt on its balance sheet, totaling $4.3 million. During the quarter, the company successfully renegotiated a large portion of its short term debt, and extended the term.

Metalink Ltd. designs and sells wireless and wireline broadband networking products for use in the home in both DSL and WLAN applications. The company has dual headquarter offices in Taiwan and Israel.

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