ELTK News & Events

Eltek announced that it received orders totaling $12.2M from an American defense customer. The products are to be delivered throughout 2026 and 2027 and will subsequently be incorporated as part of a defense project.

Eltek announced that it received orders totaling $2.4M from a defense customer. The products are to be delivered mainly throughout 2026 and 2027. "The customer is a leading Israeli defense company, recognized as one of the foremost companies in the country's defense sector. The order relates to products that have previously been supplied to this customer. The PCBs being delivered are critical components in the customer's systems, requiring advanced technological capabilities," commented Eli Yaffe, CEO of Eltek.

Reports Q3 revenue $13.5M vs. $11.9M last year. "In Q3 of 2024, we delivered strong financial results. We generated a record of $13.5M in sales, bringing our revenues to $35.8M for the first three quarters of 2024 and twelve-month trailing revenues of $48M. Our gross profit for the quarter totaled $3.5 million, with a net profit of $1.7M. The gross margin for Q3 reached 26%, reflecting the alignment of our product mix with market demand and the adjustment of production workers' wages to the current state of the local employment market. We continue to see robust demand across our two main customer segments: defense and aerospace, and medical devices. As of the end of the quarter, our cash and cash equivalents stood at $18.1M, providing significant financial support for our growth strategy," said CEO Eli Yaffe. "In response to continued demand for our products and our strong profitability, Eltek's Board of Directors has adopted a dividend policy, effective from 2024 year-end onwards. The policy will allow for an annual distribution of up to 25% of our net income, as determined under US GAAP".

Eltek received orders totaling $3.5M from two defense customers. The products are with high technology requirements and to be delivered beginning in Q4 2024 through the end of 2026. The company expects to receive additional long-term orders from these customers in the near term.