Eltek’s Q3 Revenue Down 10% | Print |  E-mail
Written by Chelsey Drysdale   
Wednesday, 28 November 2012 18:05

PETACH-TIKVA, ISRAEL – Printed circuit board fabricator Eltek reported revenues for the third quarter ended Sept. 30 were $10.8 million, down 10% year-over-year.

Net profit was $135,000, down 76.4% compared to the third quarter of 2011. Operating profit was $285,000, down 70.3%.

Revenues for the nine-month period ended Sept. 30 were $34.3 million, down 2.8% year-over-year. Net profit was $1 million, down 37.5% compared to the first nine months of 2011. Operating profit was $1.5 million, down 34.8% year-over-year.

“Eltek was able to report its seventh consecutive quarter of profitable operations in spite of a temporary production line problem, which reduced our revenues in the third quarter…this issue did not affect our company's business in its main target market in the US, in which Eltek continues to generate quarterly growth, despite the uncertainties in the global markets. Based on our order backlog for the fourth quarter, we expect to return to a similar level of revenues as we have recorded in the previous six quarters,” said Arieh Reichart, president and CEO of Eltek.

 

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