PETACH-TIKVA, ISRAEL -- Eltek today reported second quarter revenues fell 4.8% year-over-year to $9.9 million. 

For the period ended June 30, the printed circuit board fabricator had a net profit of $213,000, down from $424,000 a year ago. 

Gross profit was $1.5 million, down from $1.9 million, while operating profit slumped to $244,000 from $543,000 in the second quarter 2015.

EBITDA amounted to $754,000 (7.6% of revenues) compared to EBITDA of $1 million last year.

In a statement announcing the results, chairman and chief executive Yitzhak Nissan said, "Revenues reflect the continued competition in the Israeli market for high-end products. Revenues from the North American market in the quarter grew by 12% as compared to the first quarter and amounted to $2 million. Our focus on profitability by improving production processes and closely monitoring expenses, led us to a net profit of $213,000 in the second quarter." 

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