Partner, following a successful IPO in October, had a market capitalization of nearly $2.4 billion. The share price initially rose to $25 per
share from the IPO price of $13, and now has plunged to a fraction over $7 per share. Partner, Israel's GSM cellular telephone service
provider, bearing the Orange brand name, recently sported a company valuation of less than $1.4 billion representing a paper loss of
$1b. DeltaThree - a Jerusalem based company went public on Nasdaq in November 1999, and quickly zoomed from an initial $15 per
share to $60 per share. Recently, the price has nosedived to less than $5 per share. The Nasdaq, since the beginning of the year has lost
some 10%. Israel Helped by the strength of CheckPoint, up by 210% so far this year, the Israel High-Tech Model Portfolio has gained
two per cent this year and by 267% since January 1999. In n the past ten months the original holding costing $145,500, helped by two
stock splits in 2000, is valued was valued at $510,000.
CheckPoint has recently reported Q3 results "While Q3 was exceptionally strong, we believe that Q4 will continue to show acceleration,"
said Chief Executive, Chairman and President Gil Shwed. He added that he expects the company to show 90% revenue growth in 2000
and EPS growth just above 100%. Check Point is engaged in secure enterprise networking solutions that enable customers to implement
centralized policy-based management with enterprise-wide distributed deployment.
For the nine months ended 9/30/00, revenues rose 88% to $284.8 million. Net income totaled $140 million, up from $66 million . Results
reflect the strength of the company's markets, products and solutions for securing the Internet and increased financial income.
Third-quarter earnings more than doubled, easily beating Wall Street estimates.
The company, with U.S. operations in Redwood City, Calif., said it earned $61.6 million or 35 cents, a share compared with $24.7
million, or 15 cents in the same period last year. Wall Street had expected the company to earn 27 cents a share. Revenues also doubled,
rising to $116 million, compared with $57.8 million for the same period in 1999.
"It's just unbelievable," said UBS Warburg analyst Jordan Klein said. "I can't emphasize how impressed I am with these numbers".
The Israel High-Tech Model Portfolio Maintains Positive Performance in 2000 In the past half-year more than a few of the Nasdaq
shares plunged. The shares of Lucent, Intel and Microsoft crumbled by as much as half of their value from their highs. One can only
wonder when or whether they will return to their lofty previous heights. Some of the Israeli or Israeli related shares have also lost big
chunks from their valuations.