RRsat Global Communications Network Ltd. Reports Record Revenues for Fourth Quarter and Full Year 2012

 RRsat Global Communications Network Ltd. Reports Record Revenues for Fourth
                          Quarter and Full Year 2012

Gross and Operating Margins at Highest Levels in 10 Quarters

PR Newswire

AIRPORT CITY BUSINESS PARK, Israel, March 11, 2013

AIRPORT CITY BUSINESS PARK, Israel, March 11, 2013 /PRNewswire/ --RRsat
Global Communications Network Ltd. (NASDAQ: RRST), a leading provider of
comprehensive digital content management and global distribution services to
the television and radio broadcasting industries, announced today financial
results for the full year and fourth quarter ended December 31, 2012.

Fourth Quarter 2012 Highlights

  oAs part of the Company's growth strategy, completed acquisition of SM2
    Sports & Media Solutions, a leader in sports rights negotiation and
    delivery for broadcasters worldwide
  oRevenues were a record $29.4 million, up sequentially from $28.5 million
    in the third quarter of 2012 and up from $28.8 million in the fourth
    quarter of 2011
  oGross margin for the quarter was 25.1% compared to 24.5% in the third
    quarter of 2012 and up from 23.8% in the fourth quarter of 2011
  oNon-GAAP operating income was $2.9 million, an increase of 7.3% compared
    to $2.7 million in the previous quarter, and up 13.5% compared to $2.6
    million in the fourth quarter of 2011
  oNon-GAAP net income per share was $0.14 compared to $0.12 in the previous
    quarter, and $0.09 in the fourth quarter of 2011
  oAdjusted EBITDA was $5.0 million compared to $4.9 million in the third
    quarter of 2012 and the fourth quarter of 2011

Full Year 2012 Highlights

  oRevenues were a record $113.4 million compared to $112.9 million in 2011
  oGross margin was 23.9% compared to 23.0% in 2011
  oNon-GAAP operating income was $10.3 million, an increase of 11.5% compared
    to $9.2 million in 2011
  oNon-GAAP net income per share was $0.46 compared to $0.36 in 2011
  oAdjusted EBITDA was $18.9 million compared to $17.4 million in 2011
  oBacklog as of December 31, 2012 was $194.6 million (including all of our
    broadcasting services as well as MSS) compared to $184 million at the end
    of the third quarter of 2012

"RRsat delivered record revenues for the quarter and for the full year 2012,
with gross and operating margins reaching the highest levels in more than two
and one-half years," commented Avi Cohen, CEO of RRsat. "We continue to
benefit from a strong business model, featuring a notable percentage of
recurring revenues, long-term contracts, high renewal rate, a multi-year
backlog, and strong free cash flow. The progress we have made in the last
year, as evidenced by the year-over-year improvement in our financials,
demonstrates that we are successfully executing our strategy. We continue to
experience strong interest in our services, leading to new customer wins for
our digital media broadcasting services. In particular, our encouraging gross
margin improvement demonstrates the progress we have made in achieving a more
favorable product mix and improved leverage of our infrastructure."

"We are focused on strengthening our offering and capabilities in order to
allow us to accelerate our growth. Our recent acquisition of SM2 Sports &
Media Solutions, which brought us major customers including the NFL, signifies
a particular emphasis on the broadcasting of sports and live events. This
portion of our business has higher margins and we expect it to be a major
contributor to our growth as the demand for this type of content increases
globally," continued Mr. Cohen. "Over time, we expect this change in our
product mix, coupled with more value-added services and better utilization of
our infrastructure, to yield further margin improvements. As a global
provider, we are strategically positioned to provide customers with end-to-end
content delivery services as they expand worldwide."

Fourth Quarter 2012 Financial Results

Revenues in the fourth quarter of 2012 were $29.4 million, an increase of 3.0%
compared to $28.5 million in the third quarter of 2012 and an increase of 1.9%
compared to $28.8 million in the fourth quarter of 2011.

Gross profit in the fourth quarter of 2012 was $7.4 million, an increase of
5.4% compared to $7.0 million in the third quarter of 2012 and an increase of
7.5% compared to $6.9 million in the fourth quarter of 2011. Gross margin in
the fourth quarter of 2012 was 25.1% compared to 24.5% in the third quarter of
2012 and 23.8% in the fourth quarter of 2011.

Non-GAAP operating income, excluding non-cash stock based compensation,
amortization of acquisition-related intangibles, acquisition related expenses
and amortization of acquisition related prepaid compensation expenses, was
$2.9 million during the fourth quarter of 2012, an increase of 7.3% compared
to $2.7 million in the third quarter of 2012 and an increase of 13.5% compared
with $2.6 million in the fourth quarter of 2011. Non-GAAP operating margin in
the quarter was 9.9%, the highest level since the third quarter of 2010,
compared to 9.5% in the third quarter of 2012 and 8.9% in the fourth quarter
of 2011.

GAAP operating income for the fourth quarter of 2012 was up 3.4% to $2.7
million compared to $2.6 million in the third quarter of 2012 and up 8.6%
compared to $2.4 million in the fourth quarter of 2011. GAAP operating margin
in the fourth quarter of 2012 was 9.0% compared to 9.0% in the third quarter
of 2012 and 8.5% in the fourth quarter of 2011.

Non-GAAP net income for the fourth quarter ended December 31, 2012 was $2.4
million, an increase of 15.5% compared to $2.1 million for the third quarter
of 2012 and an increase of 64.2% compared to $1.5 million in the fourth
quarter of 2011. Non-GAAP net income per share on a fully diluted basis was
$0.14 for the fourth quarter of 2012 compared to $0.12 in the third quarter of
2012 and $0.09 in the fourth quarter of 2011.

GAAP net income for the fourth quarter of 2012 was $2.4 million, similar to
the third quarter of 2012 and an increase of 55.2% compared to $1.6 million in
the fourth quarter of 2011. GAAP net income per share on a fully diluted basis
was $0.14 for the fourth quarter of 2012 compared to $0.14 in the third
quarter of 2012 and $0.09 in the fourth quarter of 2011.

Adjusted EBITDA for the fourth quarter of 2012 was $5.0 million compared to
$4.9 million in the third quarter of 2012 and in the fourth quarter of 2011.

Cash, cash equivalents and marketable securities as of December 31, 2012
totaled $26.4 million compared with $36.9 million as of September 30, 2012.
The change in cash position during the quarter was mainly attributable to a
positive operating cash flow of $2.8 million, offset by a dividend payment of
$10.0 million, the acquisition of SM2 and capital expenditures of $3.3
million.

Backlog of signed agreements as of December 31, 2012, was $194.6 million, of
which $87.0 million is expected to be recognized as revenues in 2013, compared
to $184.0 million in the end of the third quarter of 2012. This includes
signed agreements to provide all of the Company's broadcasting services and
mobile satellite services.

Full Year 2012 Financial Results

Revenues for the year ended December 31, 2012 were $113.4 million compared to
$112.9 million for the year ended 2011. The strengthening of the US Dollar
versus the Euro over the past year had a negative impact of approximately $3.0
million on full-year revenues, compared with 2011.

Gross profit for the year ended December 31, 2012 was $27.1 million, an
increase of 4.5% compared to $26.0 in 2011. Gross margin was 23.9% compared to
23.0% in 2011.

Non-GAAP operating income, excluding non-cash stock based compensation,
amortization of acquisition-related intangibles, acquisition related expenses
and amortization of acquisition related prepaid compensation expenses, was
$10.3 million for the year, an increase of 11.5%, compared to $9.2 million in
2011. Non-GAAP operating margin for the year was 9.1% versus 8.2% in 2011.

GAAP operating income for 2012 was up 9.9% to $9.7 million compared to $8.8
million in 2011. GAAP operating margin was 8.5% compared to 7.8% in 2011.

Non-GAAP net income was $7.9 million, an increase of 25.7% compared to $6.3
million in 2011. Non-GAAP net income per share on a fully diluted basis was
$0.46 compared to $0.36 in 2011.

GAAP net income for full year 2012 was $8.3 million, up 91.2% compared to $4.3
million in 2011. GAAP net income per share on a fully diluted basis was $0.48
compared to $0.25 in 2011.

Adjusted EBITDA for the year was $18.9 million, an increase of 8.5% compared
with $17.4 million in 2011.

In addition, the Company will be filing today with the U.S. Securities and
Exchange Commission (SEC) its Annual Report on Form 20-F for the year ended
December 31, 2012. The Annual Report is available for viewing and download on
the SEC's website at www.sec.gov, as well as under the Investor Relations
section of RRsat's website at www.rrsat.com. A hard copy of RRsat's Annual
Report is available upon request, free of charge, by contacting
investors@rrsat.com. 

First Quarter and Full Year 2013 Guidance

Management expects revenues for the full year 2013 in the range of $120
million to $125 million representing 6% to 10% year-over-year growth and gross
margin for the year to improve over 2012. Given some level of seasonality
associated with the revenue outside of the 24/7 services, management expects
some level of variation in mix from quarter to quarter leading to some
fluctuations in revenues and gross margin between quarters. For the first
quarter of 2013, management expects revenues in the range of $28.7 million to
$29.7 million representing 4.5% to 8% year-over-year growth and gross and
EBITDA margin similar to the fourth quarter.

Conference Call Information

The Company will conduct a conference call today, March 11, 2013 at 9 a.m. ET
(3 p.m. Israel time). On the call, Avi Cohen, Chief Executive Officer, Itzhak
Zion, Chief Financial Officer, and Mr. Lior Rival, Chief Commercial Officer
will review and discuss the results and will be available to answer investor
questions.

Call times: 9 a.m. Eastern Time; 6 a.m. Pacific Time; 1 p.m. UK Time; 3 p.m.
Israel Time

To participate, please call one of the following teleconferencing numbers.
Please begin placing your calls at least 10 minutes before the conference call
commences. If you are unable to connect using the toll-free numbers, please
try the international dial-in number.

U.S. dial-in number: 1-877-941-2068
Israel dial-in number: 1809-21-4368
International dial-in number: 1-480-629-9712

There will be a playback available until March 18, 2013. To listen to the
playback, please call 1-877-870-5176 if calling within the United States or
1-858-384-5517 if calling internationally. Please use pin number 4601060 for
the replay.

The call will also be accompanied live by webcast over the Internet and
accessible at http://public.viavid.com/index.php?id=103570. A replay  of the
call will be available from the day after the call. A link  to the replay will
be accessible from RRsat's website at: www.rrsat.com.

Use of Non-GAAP Financial Measures

In addition to reporting results in accordance with generally accepted
accounting principles, or GAAP, RRsat has also included in this press release
non-GAAP measurements of net income, operating income, operating margin, fully
diluted net income per share and adjusted EBITDA. RRsat believes that these
non-GAAP financial measures are principal indicators of the operating and
financial performance of its business. We have provided these non-GAAP
measurements to help investors better understand our core operating
performance and enhance comparisons of core operating performance from period
to period.

Non-GAAP financial measures consist of GAAP financial measures adjusted to
exclude: non-cash stock based compensation, amortization of
acquisition-related intangibles, acquisition-related expenses, amortization of
acquisition related prepaid compensation expenses, non-cash income (loss)
reflecting changes in the fair value of embedded currency conversion
derivatives resulting from the application of FASB ASC Topic 815 and the
resulting income tax (increase) decrease of the above items.

Adjusted EBITDA is calculated by adding to operating income, non-cash
equity-based compensation charge, depreciation and amortization and
amortization of acquisition related prepaid compensation expenses.

Management uses these non-GAAP financial measures to assess its operational
performance, for financial and operational decision-making, and as a means to
evaluate period-to-period comparisons on a consistent basis. Management
believes that these non-GAAP financial measures provide meaningful
supplemental information regarding the Company's performance by excluding
certain non-cash expenses that are not directly attributable to its core
operating results.

The non-GAAP measurements are intended only as a supplement to the comparable
GAAP measurements and the company compensates for the limitations inherent in
the use of non-GAAP measurements by using GAAP measures in conjunction with
the non-GAAP measurements. As a result, investors should consider these non-
GAAP measurements in addition to, and not in substitution for, or as superior
to, measurements of financial performance prepared in accordance with GAAP.

The Company expects to continue reporting non-GAAP financial measures,
adjusting for the items described above, and the Company expects to continue
to incur expenses similar to the non-GAAP adjustments described above.
Accordingly, the exclusion of these and other similar items in the
presentation of non-GAAP financial measures should not be construed as an
inference that these costs are unusual, infrequent or non- recurring.
Moreover, because not all companies use identical measures and calculations,
the presentation of non-GAAP measurements of net income, operating income,
operating margin and fully diluted net income per share and adjusted EBITDA
may not be comparable to other similarly titled measures of other companies.
These limitations are compensated for by using non-GAAP measures and adjusted
EBITDA in conjunction with traditional GAAP financial measures.

Reconciliations of the non-GAAP measures (non-GAAP net income, non-GAAP
operating income and adjusted EBITDA) to the most comparable GAAP measures
(net income and operating income respectively), are provided in the schedules
attached to this release.

Safe Harbor Statement
This press release contains forward looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements regarding
(i) guidance for revenue and margins for the first quarter of 2013 and
guidance for full year 2013 revenues or any future periods; (ii) our
expectations and ability to strengthen our offering and capabilities in order
to allow us to accelerate our growth; (iii) our expectations to generate
higher margins from our sports and events business compared to our other
businesses ; (iv) our expectation that our sports and events business will be
a major contributor to our growth and that the demand for this type of content
will continue to increase globally; (v) our expectation and ability to further
improve our margins over time by changing our product mix, coupled with more
value-added services and better utilization of our infrastructure; (vi) our
ability to continue to experience strong interest in our services, leading to
new customer wins for our digital media broadcasting services and to report
future successes; (vii) our expectation that our backlog will materialize into
revenue on the projected timeline and (viii) our ability to continue to
benefit from a strong business model, featuring a notable percentage of
recurring revenues, long-term contracts, high renewal rate, a multi-year
backlog, and strong free cash flow. These forward- looking statements involve
known and unknown risks and uncertainties and are based on current
expectations, assumptions, estimates and projections about the companies and
the industry as of the date of this press release. The company undertakes no
obligation to update forward-looking statements to reflect subsequent
occurring events or circumstances, or to changes in its expectations, except
as may be required by law. Forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially from those
contemplated by the forward-looking statements, including the risks indicated
in our filings with the Securities and Exchange Commission (SEC). For more
details, please refer to our SEC filings and the amendments thereto, including
our Annual Report on Form 20-F for the year ended December 31, 2012 and our
Current Reports on Form 6-K.

About RRsat Global Communications Network Ltd.

RRsat Global Communications Network Ltd. (NASDAQ: RRST) provides global,
end-to-end content management and distribution services to the rapidly
expanding television and radio broadcasting industries covering more than 150
countries. Through its RRsat Global Network, composed of satellite and
terrestrial fiber optic capacity and the public Internet, RRsat provides
high-quality and flexible global distribution services 24/7 to more than 630
channels reaching multiplatform operators, Internet TV and direct-to-home
viewers worldwide and also offers occasional use services for sports, news and
events with a fleet of flyaways and over 10 transportable satellite news
gathering services (SNG) units. More than 130 television and radio channels
use RRsat's advanced production and playout centers comprising comprehensive
media asset management services. Visit the company's website www.rrsat.com.

Company Contact:     Investor Contacts:
Itzhak Zion, CFO Hayden/ MS - IR
Tel: +972 3 928 0777  Brett Maas/ Miri Segal-Scharia
Email: investors@rrsat.com    Tel: 646-536-7331/ 917-607-8654
                                         brett@haydenir.com/ msegal@ms-ir.com

Financial Tables Follow

 RRsat Global Communications Network Ltd. and its Subsidiaries
 Consolidated Statements of Operations
 In thousands except share data
                                        Year ended          Three months ended
                                        Dec-31    Dec-31    Dec-31     Dec-31
                                        2012      2011      2012       2011
 Revenues                               $113,400  $112,920  $29,365    $28,826
 Cost of revenues
                                        86,253    86,939    22,003     21,975
 Gross profit                           27,147    25,981    7,362      6,851
 Operating expenses:
 Sales and marketing                    7,388     7,067     2,119      1,735
 General and administrative             10,106    10,130    2,587      2,667
 Total operating expenses               17,494    17,197    4,706      4,402
 Operating income                       9,653     8,784     2,656      2,449
 Interest and marketable securities     739       400       307        81
 income
 Currency fluctuation and other
 financing
 expenses, net                          (399)     (740)     (246)      (373)
 Changes in fair value of embedded      1,182     (2,130)   259        229
 currency conversion derivatives
 Other income (expenses), net           (1)       (1)       (1)        5
 Income before taxes on income          11,174    6,313     2,975      2,391
 Income taxes                           2,884     1,978     547        825
 Net income                             $8,290    $4,335    $2,428     $1,566

 RRsat Global Communications Network Ltd. and its Subsidiaries
 Consolidated Statements of Operations
 In thousands except share data
                                           Year ended              Three months ended
                                           Dec-31      Dec-31      Dec-31      Dec-31
                                           2012        2011        2012        2011
 Net income per Share:
 Basic                                     0.48        0.25        0.14        0.09
 Diluted                                   0.48        0.25        0.14        0.09
 Cash dividend paid per share              0.91        0.24        0.58        -
 Weighted average number of shares used
 to compute net income and dividend per
 share:
 Basic                                    17,346,561  17,346,561  17,346,561  17,346,561
 Diluted                                   17,346,561  17,346,561  17,346,561  17,346,561

 RRsat Global Communications Network Ltd. and its Subsidiaries
 In thousands except per share data
                             Year ended Dec   Three months ended
                            31                        Dec 31
                            2012           2011       2012           2011
 Reconciliation of GAAP
 Income to Non-GAAP Net
 Income:
 GAAP Net income            $8,290         $4,335     $2,428         $1,566
 Adjustments to reconcile
 GAAP net income to
 non-GAAP net income:
 Non-cash equity-based      302            117        113            44
 compensation charge
 Amortization of
 acquisition related        241            311        68             72
 intangible
 Changes in fair value of
 embedded currency          (1,182)        2,130      (259)          (229)
 conversion derivatives
 Acquisition related        50             -          50             -
 expenses
 Amortization of
 acquisition related        22             -          22             -
 prepaid compensation
 expenses
 Income tax effect of       214            (601)      26             25
 non-GAAP adjustments
 Non-GAAP net income      $7,937         $6,292     $2,448         $1,478
 Non-GAAP net income per   $0.46          $0.36      $0.14          $0.09
 diluted share
                            Year ended Dec 31         Three months ended Dec
                                                      31
                            2012           2011       2012           2011
 Reconciliation of GAAP
 Operating Income to non
 GAAP Operating Income:
 Operating income          $9,653         $8,784     $2,656         $2,449
 Adjustments to reconcile
 GAAP operating income to
 non-GAAP operating
 income:
 Non-cash equity-based      302            117        113            44
 compensation charge
 Amortization of
 acquisition related        241            311        68             72
 intangible
 Acquisition related        50             -          50             -
 expenses
 Amortization of
 acquisition related        22             -          22             -
 prepaid compensation
 expenses
 Non-GAAP operating income  $10,268        $9,212     $2,909         $2,565
                            Year ended Dec 31         Three months ended Dec
                                                      31
                            2012           2011       2012           2011
 Reconciliation of GAAP
 Operating Income to
 adjusted EBITDA:
 Operating income          $9,653         $8,784     $2,656         $2,449
 Adjustments to reconcile
 GAAP operating income to
 Adjusted EBITDA:
 Non-cash equity-based      302            117        113            44
 compensation charge
 Depreciation and           8,883          8,477      2,206          2,388
 amortization
 Amortization of
 acquisition related        22             -          22             -
 prepaid compensation
 expenses
 Adjusted EBITDA          $18,860        $17,378    $4,997         $4,881

 RRsat Global Communications Network Ltd. and its Subsidiaries
 Consolidated Balance Sheets
 In thousands except share data
                                                        As of     As of
                                                        Dec-31    Dec-31
                                                        2012      2011
 Current assets
 Cash and cash equivalents                              $12,133   $14,443
 Marketable securities and short term investments      14,224    18,764
 Accounts receivable:
  Trade, net                                          20,898    19,402
  Other                                               803       686
 Fair value of embedded currency conversion             251       206
 derivatives
 Deferred taxes                                         2,146     2,449
 Prepaid expenses                                       2,445     2,223
 Total current assets                                   52,900    58,173
 Fair value of embedded currency conversion             440       591
 derivatives
 Long-term prepaid expenses                             2,484     2,043
 Long- term land lease prepaid expenses                 7,563     7,642
 Assets held for employee severance payments            1,845     1,757
 Fixed assets, net                                      42,671    45,495
 Goodwill                                               4,892     3,734
 Intangible Assets, net                                 472       586
 Total assets                                           $113,267  $120,021

 RRsat Global Communications Network Ltd. and its Subsidiaries
 Consolidated Balance Sheets (cont'd)
 In thousands except share data
                                                        As of     As of
                                                        Dec-31    Dec-31
                                                        2012      2011
 Liabilities and shareholders' equity
 Current liabilities
 Accounts payable:
 Trade                                                $9,816    $11,547
 Other                                                4,945     2,335
 Fair value of embedded currency conversion             377       990
 derivatives
 Deferred income                                        9,398     8,787
 Total current liabilities                              24,536    23,659
 Long - term liabilities
 Deferred income                                        6,257     7,192
 Fair value of embedded currency conversion             305       980
 derivatives
 Liability in respect of employee severance payments    2,018     1,819
 Deferred taxes                                         2,200     1,664
 Total long - term liabilities                          10,780    11,655
 Total liabilities                                      35,316    35,314
 Commitments, contingent liabilities and liens
 Shareholders' equity
 Ordinary shares                                       40        40
 Additional paid in capital                             53,312    53,010
 Retained earnings                                      24,231    31,727
 Accumulated other comprehensive income (loss)          368       (70)
 Total shareholders' equity                             $77,951   $84,707
 Total liabilities and shareholders' equity             $113,267  $120,021

 RRsat Global Communications Network Ltd. and its Subsidiaries
 Consolidated Statements of Cash Flows
 In thousands
                                  Year ended Dec 31  Three months ended Dec 31
                                  2012      2011     2012            2011
 Cash flows from operating
 activities
 Net income                       $8,290    $4,335   $2,428          $1,566
 Adjustments required to
 reconcile net income to net
 cash provided by operating
 activities:
 Depreciation and amortization    8,883     8,477    2,206           2,388
 Provision for doubtful accounts  2,895     2,217    617             572
 Deferred taxes                   692       248      428             303
 Discount accretion and premium
 amortization of available- for-  (495)     (325)    (178)           13
 sale securities, net
 Changes in liability for
 employee severance payments,     111       19       37              10
 net
 Capital loss (gains) on sale of  1         1        1               (5)
 fixed assets, net
 Non cash stock- based            302       117      113             44
 compensation
 Changes in fair value of
 embedded currency conversion     (1,182)   2,130    (259)           (229)
 derivatives
 Loss (profit) from trading       (59)      158      5               20
 securities, net
 Changes in assets and
 liabilities:
 Decrease (increase) in accounts  (4,391)   (1,759)  (2,189)         777
 receivable - trade
 Decrease (increase) in accounts  177       626      (36)            (274)
 receivable - other
 Decrease (increase) in prepaid   (222)     (78)     400             105
 expenses
 Decrease (increase) in deposits  (441)     158      (554)           (23)
 and long-term prepaid expenses
 Increase (decrease) in accounts  1,655     17       (192)           (541)
 payable
 Increase (decrease) in deferred  (324)     (96)     (39)            1,479
 income
 Net cash provided by operating   $15,892   $16,245  $2,788          $6,205
 activities

 RRsat Global Communications Network Ltd. and its Subsidiaries
 Consolidated Statements of Cash Flows (cont'd)
 In thousands
                               Year ended Dec 31     Three months ended Dec 31
                               2012       2011       2012           2011
 Cash flows from investing
 activities
 Investment in fixed assets    ($6,575)   ($14,657)  ($2,090)       ($1,804)
 Investment in long term       (17)       (27)       (2)            (5)
 prepaid expenses
 Business combination          (1,218)    -          (1,218)        -
 Decrease in short-term        (1,339)    -          (1,339)        -
 investments, net
 Investment in securities      (4,946)    (8,005)    (1,433)        (3,224)
 available- for- sale
 Decrease (increase) in        1,512      (231)      -              (210)
 trading securities, net
 Proceeds from sale and
 maturity of securities        10,159     12,161     3,868          4,217
 available- for- sale
 Proceeds from sale of fixed   8          29         -              5
 assets
 Net cash used in investing   ($2,416)   ($10,730)  ($2,214)       ($1,021)
 activities
 Cash flows from financing
 activities
 Dividend paid                 ($15,786)  ($4,163)   ($10,061)      $ -
 Net cash used in financing    ($15,786)  ($4,163)   ($10,061)      $ -
 activities
 Increase (decrease) in cash   ($2,310)   $1,352     ($9,487)       $5,184
 and cash equivalents
 Balance of cash and cash
 equivalents at beginning of   $14,443    $13,091    $21,620        $9,259
 Period
 Balance of cash and cash      $12,133    $14,443    $12,133        $14,443
 equivalents at end of Period
 A. Non-cash transactions
 Investment in fixed assets    $37        $1,293     $37            $1,293
 B. Supplementary cash flow
 information
 Income taxes paid, net        $1,218     $1,694     $420           $590

SOURCE RRsat Global Communications Network Ltd.

Website: http://www.rrsat.com