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Eltek Ltd. (Nasdaq: ELTK) is Israel's leading manufacturer of printed circuit boards (PCBs). Established in 1970, Eltek has grown to become a global provider of advanced and custom-made circuitry solutions, catering to high-tech industries such as medical technology, defense and aerospace, industrial, telecom, and networking equipment.
Eltek's core business involves the design, manufacture, and sale of complex and high-quality PCBs, including high-density interconnects (HDI), multilayered, and flex-rigid boards. These products are essential components in most electronic devices, providing the necessary circuitry for their operation.
Eltek's commitment to innovation is reflected in its state-of-the-art manufacturing capabilities and rigorous quality standards. The company is ITAR compliant and holds AS-9100 and NADCAP electronics certifications, ensuring its products meet the stringent requirements of the defense, aerospace, and medical industries.
Headquartered in Petach Tikva, Israel, Eltek operates its R&D, production, and marketing centers locally. The company also has a subsidiary in North America and collaborates with agents and distributors in Europe, India, South Africa, and South America. While Eltek's products are marketed globally, a significant portion of its revenue is generated from its home market in Israel.
In recent developments, Eltek reported impressive financial results for the third quarter of 2023, with revenues reaching $11.9 million and a net profit of $2.1 million. This success is attributed to the robust market demand for its products and efficient order selection processes. The company also secured a $2.9 million purchase order from an existing customer, highlighting its strong customer relationships and technological advancements.
Eltek continues to expand its production capabilities, evidenced by several recent purchase orders for state-of-the-art machines, software, and service contracts. These investments align with the company's strategic vision to enhance operational efficiency and technological prowess.
In a significant move, Eltek announced an underwritten public offering of 625,000 ordinary shares at a price of $16.00 per share, raising $10 million to fund its expansion plans and general corporate purposes. This financial boost will support the company's growth strategy and further strengthen its market position.
Eltek's strategic focus remains on maintaining seamless operations, particularly during challenging times such as the ongoing conflict in Israel. The company, designated as an Essential Enterprise by the Israeli government, continues to operate around the clock, ensuring the timely delivery of critical products to its defense sector customers.
Eltek remains dedicated to its mission of providing innovative PCB solutions and maintaining its leadership in the high-tech industry. For more information, visit Eltek's website.
Eltek Ltd. (NASDAQ: ELTK), a global manufacturer of printed circuit boards, has filed its annual report with the U.S. Securities and Exchange Commission for the fiscal year ending December 31, 2022. The report includes audited consolidated financial statements and is accessible on the company's website. Eltek, an Israeli leader in PCB technology, specializes in high-quality, complex PCBs for the defense, aerospace, and medical industries. The company has received multiple industry certifications, including ITAR compliance and AS-9100 certifications.
Eltek Ltd. (NASDAQ: ELTK) announced its financial results for the full year and Q4 2022 on March 9, 2023. Full year revenues reached $39.6 million with a net profit of $3.2 million or $0.55 per fully diluted share. Q4 revenues were $10.5 million, with a net profit of $0.8 million or $0.14 per share. Operating profit for 2022 was $3.0 million, up from $1.9 million in 2021. The company reported a 70% growth in backlog and received approval for a 40% participation in an $800,000 development program from the Israel Innovation Authority. Eltek is positioned for growth in the expanding global PCB market.
Eltek Ltd. (NASDAQ: ELTK), a leader in printed circuit board technology, announced it will release its financial results for Q4 and FY 2022 prior to the market opening on March 9, 2023. The results will be available via press release and on their corporate website. Following the release, a conference call is scheduled at 8:30 a.m. ET for discussions led by CEO Eli Yaffe and CFO Ron Freund. Investors can access the call through specified teleconference numbers, and a replay will be archived on their website. Eltek specializes in advanced PCB solutions for sectors including defense, aerospace, and medical.
On January 17, 2023, Eltek Ltd. (NASDAQ: ELTK) announced it received a notification from the Ministry of Environmental Protection about a proposed penalty of approximately $0.6 million for an alleged violation of the Clean Air Law during 2019-2020. The company aims to negotiate a reduction of this penalty in accordance with legal provisions. Eltek, a leader in the printed circuit board industry, specializes in high-quality complex PCBs and serves sectors like defense and aerospace globally.
Eltek Ltd. (NASDAQ: ELTK) announced a follow-up purchase order worth $1.1 million from a defense sector customer, building on a previous $1.4 million order received in Q1 2022. The new supply order will extend over four months, starting March 2023. CEO Eli Yaffe emphasized that this order reflects the customer's recognition of Eltek's technological expertise and product reliability.
Eltek specializes in high-quality printed circuit boards, serving industries like defense, aerospace, and medical across various regions.
Eltek Ltd. (NASDAQ: ELTK) announced a cash dividend of US$0.17 per share, totaling approximately US$1 million. This dividend is payable on December 19, 2022, to shareholders of record by December 12, 2022. Yitzhak Nissan, Chairman of the Board, expressed pride in this distribution, reflecting the Company's hard work and achievements. Eltek specializes in advanced printed circuit boards, catering to sectors including defense and aerospace.
Eltek Ltd. (NASDAQ: ELTK) reported its financial results for Q3 2022, achieving revenues of $10.3 million, up from $8.0 million in Q3 2021. The company posted a net profit of $1.0 million or $0.17 per fully diluted share. Operating profit increased significantly to $1.1 million compared to just $0.1 million a year earlier. With a strong backlog, Eltek anticipates continued demand in high-end sectors. The company is in the midst of a capacity expansion, having increased its workforce by 18% this year and planning to install additional production equipment.
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