Aaron Katsman
www.IsraelNewsletter.com

Elbit Medical Imaging’s(EMITF), subsidiary InSightec has raised$30 million in an internal financing round. Investors were Elbit Medical Imaging subsidiary Elbit Ultrasound (Netherlands) BV, General Electric Company (GE) subsidiary GE Capital Equity Holdings Inc., MediTech Advisors LLC, and some InSightec directors and officers. Elbit Ultrasound invested $19.8 million, boosting its stake in InSightec to 53%.

InSightec develops a product that combines MRI technology with focused ultrasound in order to treat serious diseases such as bone, liver and brain tumors, without the invasive procedures that are currently used.

The question needs to be asked when they plan on an IPO? There have been rumours for the better part of 2 years as to a billion dollar IPO but to date nothing has been done.

In an interview with Globes, Elbit Medical Imaging president Shimon Yitzhaki answered the question:

Globes”: You originally planned to float InSightec in 2005 and sales haven’t risen substantially since then. Are you disappointed?

Yitzhaki:“Not at all. InSightec is an amazing breakthrough company. The board tells us that it will be worth billions, maybe more than all our real estate deals. Just a little patience is needed.”

Yitzhaki noted, “We believe that with the products in the pipeline and insurance reimbursement, within two or three years, we’ll reach hundreds of millions in sales.”

Will you reopen your IPO plans?

“We’re waiting on the IPO until we have insurance reimbursement from a number of insurers as well as FDA approval for at least one of our cancer treatments. There are also other options besides an IPO.”

Please see our Disclaimer HERE.

Disclosure: Author has a position in EMITF. He has no positions in any other stock mentioned as of 11/30/07.

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Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.

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Aaron Katsman
www.IsraelNewsletter.com

G. Willi-Food International Ltd(WILC), one of our favorites here at Israelnewsletter.com, reported a 21% increase in revenues for Q3 ‘07 versus the same quarter ‘06. As expected profit decreased as the company suffered from a drop in margins. The worldwide increase in dairy prices impacted G. Willi’s Q3  gross margins, as they declined to 20% compared to 27% in the same period a year ago.

Mr. Zwi Williger, President and COO of Willi-Food commented, “Third quarter results are in line with our expectations for the period. In this period, nearly all of our shortfalls can be attributed to gross margin decline in our dairy business. As previously stated, Willi Food and the global dairy industry continues to experience cost pressures due to weather related problems, reduced milk production, cessation of EU dairy export subsidies at the same time that consumption and demand for dairy has increased in growing emerging markets. These factors have negatively impacted Willi Food’s near term sales and gross margins on cheeses and other products.”

Mr. Williger continued, “While we believe that this trend shall continue through the remainder of the year, we anticipate that the cost of raw food materials will stabilize by mid-2008. In the interim, we are successfully leveraging our infrastructure, hedging our strategic direction through smart acquisitions and setting the stage for growth in 2008.”

The company continues to grow and we continue to like this for the long-term. With limited volume the stock price is subject to large swings. Long-term investors should keep their eye focused on the long-term regarding this stock. As they continue to execute their business plan, I would expect the stock to continue to move up.

Please see our Disclaimer HERE.

Disclosure: Author has a position in WILC. He holds no position in any other stock mentioned, as of 11/29/07.

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Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.

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Aaron Katsman
www.IsraelNewsletter.com

With today’s news that Marvell Technology(MRVL)  is planning to fire 100 Israeli workers, as part of a global cost-cutting plan, it appears that this hi tech firm is going to be the Grinch that steals Hanukkah.

Marvell designs chips used in hard-disk drives, mobile phones, Wi-Fi functional electronics and Internet networking gear. The company has been embroiled in its own options backdating scandal, and has been focused on getting its financial house in order.

Marvellposted a loss of $6.4 million, or a penny a share, on revenue of $758.2 million for the third quarter ended Oct. 27. During the same period a year ago, the chip-maker earned $6 million, or a penny a share, on revenue of $520.4 million.

Notable Calls has an interesting analysis of where they think the stock is going. I think that at these levels, $15 a share, the share makes for an interesting contrarian investment. Marvell is taking steps to improve their margins, and along with the cost-cutting, they appear to be in the process of getting their ship in order. No question it has taken more time the many investors would have hoped for but, while these numbers weren’t of the blowout variety, they weren’t terrible. Keep in mind the relationship with Apple(AAPL). Marvell is currently supplying the Wi-Fi- chip in the iPhone, and many analysts are predicting that it will grow the Apple relationship, especially for the next-generation video iPod player.

This may make for a great turnaround.

Please see our Disclaimer HERE.

Disclosure: Author has a position in MRVL. He holds no position in any other stock mentioned, as of 11/28/07.

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Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.

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