Eltek Ltd Stock Price, News & Analysis

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.

Eltek Ltd. (NASDAQ: ELTK) reported Q1 2021 financial results, revealing revenues of $7.2 million, down from $9.2 million in Q1 2020. Gross profit decreased to $1.1 million (15.9% of revenues) from $1.8 million (19.7%). Operating profit fell to $136,000 compared to $612,000 last year, while net profit was $223,000 ($0.04 per share), down from $541,000 ($0.12). EBITDA also declined to $577,000 (8.0% of revenues). Positive cash flow was noted with $2.5 million from operations. Looking ahead, Eltek aims to recover lost sales and enhance operational efficiency amid raw material shortages.

Eltek Ltd. (NASDAQCM: ELTK) announced it will release its first quarter 2021 financial results on May 20, 2021, before the market opens. A conference call will follow at 8:30 a.m. ET, featuring remarks from CEO Eli Yaffe and CFO Alon Mualem. The results will be available on its corporate website alongside a replay of the call. Eltek specializes in advanced printed circuit boards and serves various sectors, including defense and aerospace. The company maintains high industry certifications and operates globally.

Eltek Ltd. (NASDAQ: ELTK) has announced plans to apply for land allocation from the Israel Land Authority to build a second production facility in northern Israel. The Ministry of Economics has endorsed this initiative, offering a 30% discount on land development costs and a 24-month exemption from competitive bidding. Eltek’s CEO, Eli Yaffe, emphasized that this move aligns with their long-term strategic goals for business expansion. However, the company acknowledges that obtaining necessary permits and financing the project may pose challenges.

Eltek Ltd. (NASDAQ: ELTK) filed its annual report for the fiscal year ending December 31, 2020, with the U.S. Securities and Exchange Commission on March 25, 2021. The report includes audited consolidated financial statements and is accessible on the company's website. Eltek is a leader in manufacturing advanced printed circuit boards (PCBs), catering to various high-end markets including defense and aerospace. Shareholders can request a hard copy of the report free of charge.