Printed Circuit Design & Fab Online Magazine - Elec & Eltek Swings to Q3 Loss on Revenue of $134M

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Printed Circuit Design & Fab Magazine

MILPITAS, CA – Elec & Eltek International reported third-quarter revenue ended Sept. 30 of $134 million, down 1.1% year-over-year.

The company swung to a loss of $940,000, compared to profit of $4 million in the third quarter last year.

The firm posted an operating loss before tax of $474,000 during the quarter, compared to operating profit before tax of $4.3 million in the same period in 2013.

The printed circuit board manufacturer saw weaker customer demand from its servers and other computer related products, offsetting growth in other segments of the business, say reports.

In the third quarter, sales of HDI PCBs made up 37% of the company’s total PCB sales, up from 28% in the same period of 2013.

For the first nine months of 2014, Elec & Eltek’s profit was down 64.2% year-over-year to $4.35 million.

Elec & Eltek is reportedly optimistic about long-term prospects.