Hot Telecommunication Q1 Net Profit Drops 26%

Israels's Hot Telecommunication Systems Ltd

reported a 26% decline in its first-quarter net profit. Hot Telecommunication's quarterly net profit fell to 59 million shekels ($15.3 million), versus ILS80 million, in the year-ago quarter. Its revenue climbed to ILS1.03 billion from ILS822 million, while tax expenses gained to ILS22 million from ILS10 million.