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PCB | August 15, 2005

Eltek's Revenue Rise 25%

Israel based PCB Manufacturer Eltek has Reported it's 2Q05 Financial Results; Revenues Rise 25% Year-Over-Year to $7.4 million; 4th Consecutive Quarter of Year-Over-Year Revenue Growth; Expect to Maintain Momentum During Remainder of 2005.

Eltek reported revenues for the three months ended June 30, 2005 of NIS 33.8 million ($7.4 million) compared with NIS 27.1 million ($5.9 million) during the second quarter of 2004, 25% increase. Net income for the second quarter totaled NIS 461,000 ($101,000), or NIS 0.11 per NIS 1 par value of shares (NIS 0.07 or $0.01 per share) compared with a net loss of NIS 4.3 million ($935,000), or NIS 1.03 per NIS 1 par value of shares (NIS 0.62 or $0.14 per share) for the same quarter in 2004. Revenues for the six-month period ended June 30, 2005, were NIS 68.2 million ($14.9 million) compared with revenues of NIS 57.4 million ($12.6 million) for the comparable period in 2004. Net income for the six-month period ended June 30, 2005 was NIS 1.3 million ($284,000), or NIS 0.16 per NIS 1 par value of shares (NIS 0.10 or $0.02 per share), compared with a net loss of NIS 6.8 million ($1.5 million) or NIS 1.64 per NIS 1 par value of shares (NIS 0.99 or $0.22 per share) for the same period in 2004. Eltek is one of Israel's leading manufacturers of printed circuit boards, the core circuitry of most electronic devices. It specializes in the complex high-end of PCB manufacturing, i.e., HDI, multi-layered and flex-rigid boards. Eltek's technologically advanced circuitry solutions are used in today's increasingly sophisticated and compact electronic products. The Company has invested heavily in upgrading its production facilities over the past five years. Read the full report here (NASDAQ.com)
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