PETACH-TIKVA, ISRAEL – Eltek posted revenues for the third quarter ended Sept. 30 of $10.8 million, down 7.7% year-over-year.

The printed circuit board manufacturer’s net profit for the quarter was $624,000, compared to a net loss of $532,000 in the third quarter of 2014. Operating profit was $607,000, compared to an operating loss of $446,000 in the same period last year.

Revenues for the first nine months of 2015 were $30.9 million, down 14.2% year-over-year.

Net profit for the period was $814,000, compared to a net loss of $844,000 in the first nine months of 2014. Operating profit was $1 million, compared to an operating loss of $633,000 in the same period of 2014.

"The results of the 2015 third quarter reflect improvements in various areas of the company's operations,” said Yitzhak Nissan, chairman of the board and CEO. “This is demonstrated by the significant increase in gross margins and the outstanding net profit we recorded in the quarter. In addition, revenues from the North American market showed meaningful growth compared to the third quarter of 2014. We have engaged three new sales representative firms in the United States. One firm is based in the Pacific Northwest, one in Florida, and the third firm is in the New England area. We are focusing on developing cutting-edge technologies for high-end products in order to serve our sophisticated defense, aerospace and medical customers."

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