Welcome to our dedicated page for Eltek news (Ticker: ELTK), a resource for investors and traders seeking the latest updates and insights on Eltek stock.
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) 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.
Eltek Ltd. (NASDAQ: ELTK) reported its Q2 2022 financial results, posting revenues of $9.1 million, unchanged from Q2 2021. Operating profit fell to $0.3 million from $1.0 million year-over-year, while net profit decreased to $0.8 million or $0.13 per share. The production was impacted by a fire, which affected sales and increased costs. The company is in discussions regarding insurance compensation for the damages. Eltek also renewed a shelf registration statement to raise up to $20 million when market conditions are favorable.
Eltek Ltd. (NASDAQ: ELTK) announced that it will release its financial results for Q2 2022 on August 17, 2022, before the market opens. A conference call will be held on the same day at 8:30 a.m. ET, featuring CEO Eli Yaffe and CFO Ron Freund. Investors can access the call via specific teleconference numbers provided in the release. A replay will be available on Eltek's website approximately 24 hours after the call. Eltek specializes in advanced printed circuit boards and serves various industries including defense and aerospace.
Eltek Ltd. (NASDAQ: ELTK), a leader in printed circuit boards, announced a significant purchase order valued at $1.7 million from a defense sector customer. This order, effective from October 2022, will be fulfilled over 16 months, reflecting the growing demand for their products. CEO Eli Yaffe highlighted the order as a testament to the company's technological capabilities and product reliability. Eltek specializes in high-quality, complex PCBs and maintains compliance with rigorous industry standards.
Eltek Ltd. (NASDAQ: ELTK) has resumed customer deliveries following a fire that impacted one of its production rooms in Petach-Tikva. The company is currently using an alternative production line while repairs on the damaged line continue. Eltek maintains communication with its customers to prioritize deliveries and minimize delays. Additionally, the company is in discussions with its insurance provider regarding compensation for damages caused by the incident.
Eltek Ltd. (NASDAQ: ELTK) reported a fire incident at its Petach-Tikva plant on June 14, 2022, which affected part of its production line. Fortunately, there were no injuries reported. Manufacturing in other areas has resumed, but the impacted room is essential for completing production processes. The company is currently assessing the full recovery timeline and its operational impact while striving to minimize delivery delays. Preliminary evaluations indicate damages are covered under existing insurance policies.
Eltek Ltd. (NASDAQ: ELTK) reported its Q1 2022 financial results, showing revenues of $9.8 million, up from $7.2 million in Q1 2021. Gross profit also increased, reaching $2.0 million (20.1% of revenues) compared to $1.1 million (15.9%). The net profit was $0.6 million or $0.11 per share, improving from $0.2 million ($0.04 per share) a year earlier. The company is investing $15 million in capacity expansion to meet rising demand, especially in defense products, with a backlog increase of 50% year-to-date.
Eltek Ltd. (NASDAQ: ELTK) announced it will release its first-quarter 2022 financial results on May 18, 2022, before market open. A conference call will follow at 8:30 a.m. ET, featuring CEO Eli Yaffe and CFO Ron Freund, to discuss the results. This event will be accessible via multiple teleconference numbers. The call's replay will be available on Eltek's website within 24 hours. Eltek specializes in printed circuit boards and is recognized as a leader in the Israeli market, catering to sectors such as defense and aerospace.
Eltek Ltd. (NASDAQ: ELTK) has announced its financial results for Q1 2022 will be released on May 18, 2022, before the market opens. A subsequent conference call is scheduled for 8:30 a.m. Eastern Time, featuring remarks from CEO Eli Yaffe and CFO Ron Freund. Eltek is a leader in advanced printed circuit board solutions, serving various industries including defense and aerospace. The company is ITAR compliant and has significant certifications like AS-9100. Investors can access the results and a call replay via Eltek's website.
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