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) will announce its financial results for the first quarter of 2022 on May 18, 2022, before the market opens. The results will be available via news wires and on the company's website. A conference call led by CEO Eli Yaffe and CFO Ron Freund will be held on the same day at 8:30 a.m. Eastern Time to discuss these results. Eltek specializes in advanced solutions for printed circuit boards, serving industries such as defense and aerospace, and operates globally with various certifications.
Eltek Ltd. (NASDAQ: ELTK), a leader in printed circuit board manufacturing, announced the filing of its annual report with the SEC for the year ended December 31, 2021. The report includes audited consolidated financial statements and is available on the company's website. Eltek specializes in high-quality, complex PCBs for sectors like defense, aerospace, and medical across various regions including the U.S., Europe, and Asia. Shareholders can request a free hard copy of the report.
Eltek Ltd. (NASDAQ: ELTK) announced its financial results for 2021, reporting revenues of $33.8 million, an 8% decrease from $36.7 million in 2020. The company achieved a net profit of $5.0 million, up from $2.6 million in the previous year. The fourth quarter showed stable revenues of $9.5 million with a significant increase in net profit to $3.8 million compared to $0.8 million in Q4 2020. Despite challenges like raw material shortages, Eltek maintained a healthy balance sheet with $9.3 million in cash and working capital of $13.3 million.
Eltek Ltd. (NASDAQ: ELTK) announced it will release its financial results for the fourth quarter and year ended December 31, 2021, on March 23, 2022, before market opening. A conference call is scheduled for the same day at 8:30 a.m. ET, featuring CEO Eli Yaffe and CFO Ron Freund. Eltek specializes in advanced printed circuit boards, serving high-end markets including defense and aerospace. The company's commitment to quality is underscored by its ITAR compliance and AS-9100 certifications.
Eltek Ltd. (NASDAQ: ELTK) announced receiving a letter of intent for a $1.4 million purchase order from a defense sector customer, effective April 2022, extendable up to $2.1 million. This order underscores the customer's trust in Eltek's advanced technology and reliability, with a delivery timeframe of 14 months. CEO Eli Yaffe expressed confidence in the company’s ability to stabilize income through medium-term orders. Eltek specializes in high-quality printed circuit boards and holds significant industry certifications.
Eltek Ltd. (NASDAQ: ELTK) announced the appointment of Mr. Ron Freund as Chief Financial Officer, effective January 1, 2022. He succeeds Alon Mualem, who resigned to pursue other opportunities. Freund brings extensive experience, having served as CFO at Ophir Tours Ltd. and Middle East Tube Company Ltd. He is expected to play a crucial role in Eltek's growth. The company specializes in high-quality printed circuit boards and serves key industries including defense and aerospace.
Eltek Ltd. (NASDAQ: ELTK) reported its financial results for the third quarter of 2021, revealing revenues of $8.0 million, down from $9.3 million in Q3 2020. The company experienced a net loss of $26,000 compared to a net profit of $598,000 in the prior year. Gross profit also fell to $1.4 million (17.5% of revenues), down from $1.8 million (19.7%). Despite these challenges, Eltek noted an improved balance sheet with positive working capital of $12.5 million and operating cash flow of $3.4 million.
Eltek Ltd. (NasdaqCM: ELTK), a leader in printed circuit board solutions, will release its Q3 2021 financial results on November 17, 2021, before market open. The results will be available via news wires and on the company's website. A conference call is scheduled for 8:30 a.m. ET on the same day, featuring remarks from CEO Eli Yaffe and CFO Alon Mualem. Investors can access a replay of the call through the Investor Info section of Eltek's website after 24 hours.
Eltek Ltd. (NASDAQ: ELTK) reported a 3.9% revenue increase in Q2 2021, totaling $9.1 million, compared to Q2 2020. Gross profit improved from 21.6% to 25.9%, marking a gross profit of $2.4 million. Operating profit rose to $944,000 (10.3% of revenues) while net profit was $825,000, down from $704,000 the previous year. Despite facing challenges such as material shortages and currency devaluation, Eltek aims to enhance operations and customer satisfaction. Cash and cash equivalents increased from $4.7 million to $9.2 million year-to-date.
Eltek Ltd. (NasdaqCM: ELTK) announced that it will release its second-quarter financial results on August 18, 2021, before market opening. The results will be available via news wires and on their website. A conference call is scheduled for the same day at 8:00 a.m. Eastern Time, featuring insights from CEO Eli Yaffe and CFO Alon Mualem. Participants can join through various teleconference numbers. A replay will be accessible approximately 24 hours post-call, archived for 30 days.
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