6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2011

Commission file number: 0-30394

Metalink Ltd.

(Translation of registrant’s name into English)

Gealya 76885, 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 þForm 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

The information contained in this Report on Form 6-K is hereby incorporated by reference into the registrant's Registration Statements on Form F-3 File Nos. 333-152119, 333-145431, 333-104147 and 333-13806 and on Form S-8, File Nos. 333-121901, 333-12064, 333-88172, 333-112755 and 333-149657.

6-K Items

99.1 Press Release, dated December 29, 2011:

The following exhibits are included in this Report on Form 6-K and incorporated herein by reference: Metalink Reports Third Quarter 2011 Results.

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.

	METALINK LTD.
Date: December 29, 2011	By:	/s/ Tzvika Shukhman
		Tzvika Shukhman
		Chief Executive Officer

EX-99.1

Exhibit 99.1

Neta Eshed

General Counsel

Metalink Ltd.

Tel: 972-77-4495900

Fax: 972-77-4495901

Neta@Mtlk.com

METALINK REPORTS THIRD QUARTER 2011 RESULTS

GEALYA, ISRAEL, December 29, 2011 - Metalink Ltd. (OTCQB: MTLK), today announced its unaudited financial results for the third quarter of 2011 ended September 30, 2011.

FINANCIAL RESULTS

Financial Highlights for the Third Quarter of 2011: Revenues for the third quarter of 2011 were $240 thousands compared to $363 thousands for the third quarter of 2010; Net loss for the period from continuing operation was $(20) thousands, or $0.01 per share, compared to net profit of $123 thousands, or $0.05 per share, for the third quarter of 2010.

For the first 9 months of 2011: Revenues for the period were $1149 thousands compared to $621 thousands for the first 9 months of 2010; Net profit for the period was $334 thousands, or $0.12 per share, compared to net loss from continuing operation of $(425) thousands, or $(0.16) per share, for the first 9 months of 2010.

Cash Status: Metalink’s cash and cash equivalents, as of September 30, 2011 were $4.56 million.

ABOUT METALINK

Metalink shares are quoted on OTCQB under the symbol “MTLK”. For more information, please see our public filings at the SEC's website at www.sec.gov.

SAFE HARBOR STATEMENT

This press release contains “forward looking statements” within the meaning of the United States securities laws. Words such as “aim,” "expect," "estimate," "project," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believe," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties that could cause actual results to differ materially from those in the forward looking statements. Factors that could cause or contribute to such differences include, but are not limited to: absence of significant operations following the Lantiq transaction; uncertainty as to our future business model and our ability to identify and evaluate suitable business opportunities; and our U.S. shareholders may suffer adverse tax consequences if we will be classified as a passive foreign investment company. Additional factors that could cause actual results to differ materially from these forward-looking statements are set forth from time to time in Metalink's filings with the Securities and Exchange Commission, including Metalink's Annual Report in Form F-20. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable law, the Company undertakes no obligation to republish or revise forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrences of unanticipated events. The Company cannot guarantee future results, events, and levels of activity, performance, or achievements.

(TABLES FOLLOW)

METALINK LTD.

CONSOLIDATED BALANCE SHEETS

	September 30,			December 31,
	2011			2010
	(Unaudited)
	(in thousands except share data)
ASSETS
Current assets
Cash and cash equivalents	$	4,562		$	4,357
Trade accounts receivable		345			92
Other receivables		-			266
Government institutions		20			66
Prepaid expenses & Income receivable		21			8
Advance to supplier		345			175
Inventories		4			37
Total current assets		5,297			5,001
Property and equipment, net		73			79
Total assets	$	5,370		$	5,080
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Trade accounts payable	$	146		$	102
Other payables and accrued expenses		484			576
Total current liabilities		630			678
Accrued severance pay		279			275
Shareholders' equity
Ordinary shares of NIS 1.0 par value (Authorized - 5,000,000       shares, issued and outstanding – 2,780,707 shares as of       September 30, 2011 and December 31, 2010)		790			790
Additional paid-in capital		158,111			158,111
Accumulated deficit		(144,555	)		(144,889	)
		14,346			14,012
Treasury stock, at cost; 89,850 as of
September 30, 2011 and December 31, 2010		(9,885	)		(9,885	)
Total shareholders' equity		4,461			4,127
Total liabilities and shareholders' equity	$	5,370		$	5,080

METALINK LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS

	Three months ended September 30,					Nine months ended September 30,
	2011			2010		2011		2010
	(Unaudited)					(Unaudited)
	(in thousands, except share and per share data)
Revenues	$	240		$	363	$	1149	$	621
Costs of revenues		90			45		352		86
Gross profit		150			318		797		535
General and administrative		176			270		490		920
Operating profit (loss)		(26	)		48		307		(385	)
Financial income (expenses), net		6			75		27		(40	)
Net profit (loss) from continuing operation	$	(20	)	$	123	$	334	$	(425	)
Discontinued operation
Operating loss from discontinued operation		-			-		-		(108	)
Capital gain from sale of discontinued operation		-			-		-		6,907
Net profit from Discontinued operation	$	-		$	-	$	-	$	6,799
Net profit (loss)	$	(20	)	$	123	$	334	$	6,374
Per share data-
Basic and Diluted earnings (loss) from continuing operations	$	(0.01	)	$	0.05	$	0.12	$	(0.16	)
Basic and Diluted earnings from discontinued operations	$	-		$	-	$	-	$	2.53
Basic and Diluted earnings (loss)	$	(0.01	)	$	0.05	$	0.12	$	2.37
Shares used in computing earnings (loss) per ordinary share:
Basic and Diluted		2,690,857			2,690,383		2,690,857		2,690,383