Eltek Reports Revenues of $8.9 Million for Q1 2018


Reading time ( words)

Eltek Ltd. announced today its financial results for the quarter ended March 31, 2018.

Yitzhak Nissan, chairman of the board and chief executive officer, commented: "Our revenues in the first quarter of 2018 increased to $8.9 million, compared to revenues of $8.5 million in the first quarter of 2017. While we are still facing challenges in our manufacturing operations, we are deploying our best resources to resolve them."

Highlights of the First Quarter of 2018 compared to the First Quarter of 2017

  • Revenues for the first quarter of 2018 were $8.9 million compared to revenues of $8.5  million in the first quarter of 2017
  • Gross profit was $444,000 (5.0% of revenues) compared to gross profit of $485,000 (5.7% of revenues) in the first quarter of 2017
  • Operating loss was $626,000 compared to an operating loss of $630,000 in the first quarter of 2017
  • Net loss was $670,000, or $0.33 per fully diluted share compared to a net loss of $814,000, or $0.40 per fully diluted share, in the first quarter of 2017
  • EBITDA was a negative $185,000 (2.1% of revenues) compared to a negative EBITDA of $210,000 (2.5% of revenues), in the first quarter of 2017
  • Net cash used in operating activities amounted to $859,000 compared to net cash used in operating activities of $776,000 in the first quarter of 2017

About Eltek

Eltek – "Innovation Across the Board", is a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), and is the Israeli leader in this industry. PCBs are the core circuitry of most electronic devices. Eltek specializes in the manufacture and supply of complex and high quality PCBs, HDI, multilayered and flex-rigid boards for the high-end market. Eltek is ITAR compliant and has AS-9100 and NADCAP Electronics certifications. Its customers include leading companies in the defense, aerospace and medical industries in Israel, the United States, Europe and Asia.

Eltek was founded in 1970. The Company's headquarters, R&D, production and marketing center are located in Israel. Eltek also operates through its subsidiaries in North America and in Europe and by agents and distributors in Europe, India, South Africa and South America.

For more information, click here.

Share


Suggested Items

Substrates for Advanced PCB Technologies: What Will the Future Hold?

11/06/2018 | Pete Starkey, I-Connect007
The UK chapter of the global IMAPS community of electronics and microelectronic packaging engineers shared a wealth of knowledge and wisdom about PCB substrate technology trends, developments, and future requirements in a webinar on the first of November.

PCB Design, Fabrication and Use from the Mil-Aero End-User Perspective

08/28/2018 | Pete Starkey, I-Connect007
The procedures described for Rolls Royce were directly comparable with those described for MBDA, and the presenters were unanimous in re-emphasising the importance of working closely with their chosen PCB fabricators at all levels and all stages of design, qualification and production of their circuit boards.

Calumet Electronics on IMPACT 2018

08/14/2018 | Patty Goldman, I-Connect007
This year at IMPACT Washington, DC, I-Connect007's Patty Goldman sat down with Steve Vairo and Mike Kadlec of Calumet Electronics, to get their overview on the event.



Copyright © 2018 I-Connect007. All rights reserved.