ELTK: Eltek Potential Growth Opportunities Supports Price Target of $18.00 [Yahoo! Finance]
Eltek Ltd. - Ordinary Shares (ELTK)
US:NASDAQ Investor Relations:
eleceltek.com/en/financial.php?tid=5
Company Research
Source: Yahoo! Finance
On August 15, 2024, Eltek (NASDAQ:ELTK) announced financial results for the 2nd quarter of 2024 which were slightly below expectations. Revenues for the 2nd quarter were $10.5 million compared to $11.0 million in the 2nd quarter of 2023. The decrease was due to a significant timing shift by some key customers who prioritized orders for PCBs with medium technology requirements which resulted in lower prices and margins. Orders for more complex, higher-margin PCBs were pushed back and are scheduled to be produced in the 3rd quarter of 2024. Approximately 2/3rds of revenues are generated from the country of Israel with the other 1/3rd coming from North America, the Netherlands, India and other countries. Gross profit for the 1st quarter was $1.6 million ( 16% gross margin ) compared to $3.0 million ( 27% gross margin ) in the prior year period. Operating profit for the 2nd quarter of 2024 was $0.4 million compared to $1.4 million in the 2nd quarter of 2023. Net income for the quarter
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ELTK
News
- Eltek Appoints Tomer Segev as New Vice President of Marketing and SalesPR Newswire
- Is Weakness In Eltek Ltd. (NASDAQ:ELTK) Stock A Sign That The Market Could be Wrong Given Its Strong Financial Prospects? [Yahoo! Finance]Yahoo! Finance
- Eltek bags purchase orders worth $3.5M [Seeking Alpha]Seeking Alpha
- Eltek Receives Purchase Orders Totaling $3.5 Million [Yahoo! Finance]Yahoo! Finance
- Eltek Receives Purchase Orders Totaling $3.5 MillionPR Newswire
ELTK
Earnings
- 8/15/24 - Miss
ELTK
Sec Filings
- 9/9/24 - Form 6-K
- 8/27/24 - Form 6-K
- 8/15/24 - Form 6-K
- ELTK's page on the SEC website