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 August 2006 BARAK I.T.C. (1995) - THE INTERNATIONAL TELECOMMUNICATIONS SERVICES CORP. LTD. -------------------------------------------------------- (Translation of registrant's name into English) 15 Hamelacha Street, Rosh Ha'ayin 48091, Israel -------------------------------------------------------- (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 -------------------------------- Eyal Vardi CFO Date: August 21, 2006
CONDENSED STATEMENTS OF OPERATIONS FOR THE THREE FOR THE THREE MONTHS ENDED MONTHS ENDED JUNE 30, 2006 JUNE 30, 2005 (UNAUDITED) (UNAUDITED) REPORTED REPORTED AMOUNTS AMOUNTS (IN MILLIONS) (IN MILLIONS) ------------- ------------- REVENUES 188.0 159.3 EXPENSES 153.2 138.6 OPERATING PROFIT BEFORE FINANCIAL RESTRUCTURING COSTS 34.8 20.7 FINANCIAL RESTRUCTURING COSTS - 1.7 OPERATING PROFIT 34.8 19.0 FINANCIAL INCOMES (EXPENSES), NET 26.1 (53.8) NET PROFIT (LOSS) FOR THE PERIOD 60.9 (34.8) EBITDA 44.5 27.8 CONDENSED STATEMENT OF BALANCE SHEET JUNE 30,2006 DECEMBER 31,2005 (UNAUDITED) (AUDITED) REPORTED REPORTED AMOUNTS AMOUNTS (IN MILLIONS) (IN MILLIONS) ----- ----- CASH 33.2 51.8 OTHER CURRENT ASSETS 153.9 147.4 OTHER ASSETS, NET 215.8 202.9 ----- ----- TOTAL ASSETS 402.9 402.1 CURRENT LIABILITIES 303.6 361.8 LONG TERM LIABILITIES 420.1 442.7 SHAREHOLDERS' EQUITY (320.8) (402.4) ----- ----- 402.9 402.1 CONDENSED STATEMENT OF CASH FLOWS FOR THE THREE FOR THE THREE MONTHS ENDED MONTHS ENDED JUNE 30, 2006 JUNE 30, 2005 (UNAUDITED) (UNAUDITED) REPORTED REPORTED AMOUNTS AMOUNTS (IN MILLIONS) (IN MILLIONS) ---- ---- CASH FLOWS FROM OPERATING ACTIVITIES 26.9 35.2 CASH FLOWS USED IN INVESTING ACTIVITIES (8.0) (4.4) CASH FLOWS FROM FINANCING ACTIVITIES (24.0) (23.4) BALANCE OF CASH AT BEGINNING OF PERIOD 38.3 88.0 ---- ---- BALANCE OF CASH AT END OF PERIOD 33.2 95.4