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Eltek's Q2 Earnings Rise Despite Flat Sales

Published: 31 August 2012
 by Staff

PETACH-TIKVA, ISRAEL -- Eltek reported second quarter net profit rose to $351,000 from $257,000 a year ago despite flat sales growth.

For the period ended June 30, revenues were $11.5 million, flat with 2011. Gross profit was $1.9 million (17% of revenues), down from $2.1 million (18% of revenues) in 2011. Operating profit rose to $465,000 from $426,000 last year.

During the quarter the printed circuit board fabricator received a $4.7 million frame order from a defense customer, which is expected to be delivered in 2012 and 2013. It also has received a pair of $3 million orders from two medical customers earlier this year.

EBITDA was $928,000, down from EBITDA of $966,000 in the second quarter 2011.

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