Eltek Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 21, 2023 at 07:11 am EDT
Share
Eltek Ltd. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 11.04 million compared to USD 9.09 million a year ago. Net income was USD 1.31 million compared to USD 0.753 million a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to USD 0.13 a year ago. Diluted earnings per share from continuing operations was USD 0.22 compared to USD 0.13 a year ago.
For the six months, sales was USD 22.51 million compared to USD 18.84 million a year ago. Net income was USD 2.88 million compared to USD 1.39 million a year ago. Basic earnings per share from continuing operations was USD 0.49 compared to USD 0.24 a year ago. Diluted earnings per share from continuing operations was USD 0.49 compared to USD 0.24 a year ago.
Eltek Ltd. manufactures, markets and sells custom made printed circuit boards (PCBs), including high density interconnect (HDI), flex-rigid and rigid, with high layer count boards. The Company manufactures and supplies custom made circuitry solutions for use in compact electronic products. The Company's principal customers include manufacturers of defense and aerospace, medical, industrial, telecom and networking equipment, as well as contract electronic manufacturers. The Company designs and develops manufacturing solutions pursuant to interconnect requirements of original equipment manufacturers, and provides its customers with a range of custom designed PCBs, including rigid, double-sided and multi-layer PCBs, as well as flexible circuitry (flex and flex-rigid boards) made of various types of base material. The Company also acts as an agent for the importation of PCBs from South East Asia. The Company provides fabrication of dense multi-layer PCBs.