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Metalink Reports First Quarter 2012 Results

TEL-AVIV, Israel May 22, 2012

March 31, 2012

FINANCIAL RESULTS

F in ancial Highlights for the F irst Quarter of 20 1 2 $513,000 $99,000 $115,000 $0.04 $28,000 $0.01

C ash Status March 31, 2012 $4.98 million

ABOUT METALINK

http://www.sec.gov

SAFE HARBOR STATEMENT

the United States

METALINK LTD.

CONSOLIDATED BALANCE SHEETS

(in thousands except share data)

                                                    March 31,     December 31,                                                       2012           2011                                                   (Unaudited)     ASSETS     Current assets     Cash and cash equivalents                    4,981 $        $ 5,321     Trade accounts receivable                        8               39     Government institutions                          7                9     Prepaid expenses                                35                3     Inventories                                    331              252     Total current assets                         5,362            5,624       Property and equipment, net                     61               67        Total assets                                 5,423 $          5,691 $       LIABILITIES AND SHAREHOLDERS' EQUITY     Current liabilities     Trade accounts payable                         $ -             $ 30     Other payables and current liabilities         434              497     Accrued severance pay                            -              290     Total current liabilities                      434              817       Shareholders' equity     Ordinary shares of NIS 1.0 par value     (Authorized - 5,000,000 shares, issued and     outstanding - 2,780,707 shares (including     treasury stocks) as of March 31, 2012 and     December 31, 2011)                                                    790              790     Additional paid-in capital                 158,111          158,111     Accumulated deficit                       (144,027)        (144,142)                                                 14,874           14,759       Treasury stock, at cost; 89,850 as of     March 31, 2012 and December 31, 2011        (9,885)          (9,885)     Total shareholders' equity                   4,989            4,874       Total liabilities and shareholders' equity $ 5,423          $ 5,691 

METALINK LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

                                          Three months ended March 31,                                               2012           2011                                           (Unaudited)    (Unaudited)      Revenues                                     $ 513          $ 99       Cost of revenues                               167             5       Gross profit                                   346            94       Sales and marketing                            100             -       General and administrative                     163            76       Operating profit                                83            18       Financial income, net                           32            10       Net profit from continuing operation         $ 115          $ 28       Net profit                                   $ 115          $ 28       Per share data-       Basic and Diluted earnings                                                   0.04 $      $ 0.01     Shares used in computing earnings per     ordinary share:     Basic and Diluted                        2,780,707     2,780,707   

Contact:

Shay Evron

[email protected]

SOURCE Metalink Ltd

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