Eltek Ltd. manufactures custom printed circuit boards for high-end electronic applications, including HDI, multilayer and flex-rigid boards. The Israel-based company serves customers in defense, aerospace, medical technology, industrial, telecom and networking equipment markets, with a North American subsidiary and sales channels through agents and distributors in multiple regions.
Recurring news for ELTK covers financial results, earnings-call schedules, customer purchase orders, order delivery schedules and operating outlook updates tied to its PCB manufacturing business. Company updates also reference certifications and compliance standards such as ITAR, AS-9100 and NADCAP Electronics, along with demand trends in defense, aerospace and medical end markets.
Eltek Ltd. (NASDAQ: ELTK) reported a preliminary revenue increase to $36.7 million for the year ended December 31, 2020, a growth of 5.5% compared to $34.8 million in 2019. The company successfully raised $5.7 million through a rights offering, enhancing its financial position. However, Eltek anticipates challenges in Q1 2021 due to a global shortage of Pyralux AP, a critical material for their printed circuit boards. While short-term impacts are expected, the company believes revenues will recover in subsequent quarters as alternative materials are authorized.
Eltek Ltd. (NASDAQ: ELTK), a manufacturer of printed circuit boards, has announced the results of its rights offering completed in December 2020. In November 2020, the company issued subscription rights for 1,460,089 shares at a price of $3.90, receiving approximately $7.3 million in subscriptions, surpassing its target by 128%. The offering secured gross proceeds of $5.7 million, with the majority of shares purchased by the principal shareholder, increasing their voting interest from 65.4% to 69.6%. Proceeds will be used to reduce debt and for corporate purposes.
Eltek Ltd. (NASDAQ: ELTK) reported its financial results for Q3 2020, showing resilience amid the Covid-19 pandemic.
Revenues remained stable at $9.3 million, with gross profit increasing to $1.82 million (19.7% of revenues). Operating profit rose to $638,000, while net profit improved to $598,000, or $0.14 per diluted share. For the first nine months of 2020, revenues reached $27.2 million, up from $26.2 million in 2019. EBITDA for the nine months was $3.2 million, compared to $3.0 million last year. The company emphasized its commitment to improving efficiencies and maintaining profitability.
Eltek Ltd. (NASDAQ: ELTK), a leader in Printed Circuit Boards manufacturing, will announce its third-quarter 2020 financial results on November 18, 2020, prior to market opening. Following the release, a conference call will take place at 8:30 a.m. ET featuring remarks from CEO Eli Yaffe and CFO Alon Mualem. Investors can access the call via specific teleconference numbers provided. Eltek, known for high-quality PCBs, services key sectors including defense and aerospace. The earnings report will be available on their website.
Eltek Ltd. (NASDAQ: ELTK) has announced key details of its rights offering on November 9, 2020. Shareholders as of this date will receive one non-transferable subscription right for every three shares held, allowing them to purchase one share at a price of $3.90. The rights can be exercised from November 9 to December 2, 2020, with an estimated net proceeds of approximately $5.6 million aimed at repaying debt and supporting working capital. A registration statement has been filed with the SEC regarding the offering.
Eltek Ltd. (NASDAQ: ELTK) reported its financial results for Q2 2020, indicating a 7.2% revenue growth year-over-year, reaching $8.8 million. Gross profit improved significantly from 15.3% in Q2 2019 to 21.6% in Q2 2020, totaling $1.9 million. Operating profit surged to $809,000, compared to just $7,000 in the same quarter last year. However, net profit slightly decreased to $704,000 ($0.16 per share) from $790,000 ($0.19 per share) in Q2 2019. For the first half of 2020, revenues stood at $17.9 million, a modest increase from $16.9 million in H1 2019.
Eltek Ltd. (NasdaqCM: ELTK), a leading manufacturer of printed circuit boards, announced its financial results for Q2 2020 will be released on August 12, 2020. The announcement will occur prior to the market's opening, with the results to be available via news wires and its corporate website. A conference call for discussing these results is scheduled for the same day at 8:30 a.m. ET, featuring CEO Eli Yaffe and CFO Alon Mualem.