UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2006
BARAK I.T.C. (1995) - THE INTERNATIONAL TELECOMMUNICATIONS SERVICES CORP. LTD.
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(Translation of registrant's name into English)
15 Hamelacha Street, Rosh Ha'ayin 48091, Israel
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(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F [_] Form 40-F [_]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [_] No [X]
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BARAK I.T.C. LTD.
By: /s/ Eyal Vardi
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Eyal Vardi
CFO
Date: March 23, 2006
CONDENSED STATEMENTS OF OPERATIONS
FOR THE YEAR FOR THE YEAR
ENDED DECEMBER ENDED DECEMBER
31, 2005 31, 2004
(AUDITED) (AUDITED)
REPORTED AMOUNTS REPORTED AMOUNTS
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(IN MILLIONS) (IN MILLIONS)
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REVENUES 659.4 704.4
EXPENSES 570.8 617.2
OPERATING PROFIT BEFORE FINANCIAL RESTRUCTURING COSTS 88.6 87.2
FINANCIAL RESTRUCTURING COSTS 11.8 3.1
OPERATING PROFIT 76.8 84.1
FINANCIAL EXPENSES, NET 101.5 55.0
OTHER EXPENSES - 82.5
NET LOSS FOR THE PERIOD (24.7) (53.4)
CONDENSED STATEMENT OF BALANCE SHEET
DECEMBER 31, 2005 DECEMBER 31, 2004
(AUDITED) (AUDITED)
REPORTED AMOUNTS REPORTED AMOUNTS
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(IN MILLIONS) (IN MILLIONS)
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CASH 51.8 63.7
OTHER CURRENT ASSETS 147.9 156.5
OTHER ASSETS, NET 202.4 227.3
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TOTAL ASSETS 402.1 447.5
CURRENT LIABILITIES 361.8 923.9
LONG TERM LIABILITIES 442.7 50.7
SHAREHOLDERS' EQUITY (402.4) (527.1)
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402.1 447.5
CONDENSED STATEMENT OF CASH FLOWS
FOR THE YEAR FOR THE YEAR
ENDED DECEMBER ENDED DECEMBER
31, 2005 31, 2004
(AUDITED) (AUDITED)
REPORTED AMOUNTS REPORTED AMOUNTS
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(IN MILLIONS) (IN MILLIONS)
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CASH FLOWS FROM OPERATING ACTIVITIES 73.2 72.9
CASH FLOWS USED IN INVESTING ACTIVITIES (44.4) (37.7)
CASH FLOWS FROM FINANCING ACTIVITIES (40.7) (30.4)
BALANCE OF CASH AT BEGINNING OF PERIOD 63.7 58.9
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BALANCE OF CASH AT END OF PERIOD 51.8 63.7