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Stock impact report

Eltek Ltd. Reports 2023 Second Quarter Financial Results

Eltek Ltd. - Ordinary Shares (ELTK) 
US:NASDAQ Investor Relations: eleceltek.com/en/financial.php?tid=5
Company Research Source: PR Newswire
PETACH TIKVA, Israel, Aug. 21, 2023 /PRNewswire/ -- Eltek Ltd. (NASDAQ: ELTK), a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), today announced its financial results for the quarter ended June 30, 2023.Second Quarter 2023 HighlightsRevenues were $11.0 million, 21% up over Q2 2022Operating profit was $1.4 million, 300% up over Q2 2022Profit before tax was $1.6 million (2022 Q2 - $1.0 million)Net income was $1.3 million or $0.22 per fully diluted share, 74% up over Q2 2022As of June 30, 2023 cash and cash equivalents amounted $8.3 million, after full repayment of bank loans."We are proud to announce our strong second quarter results for 2023, with a growth of 21% in sales compared to the same quarter last year. The second quarter is characterized by a relatively low number of working days due to holidays. Despite this, we managed to achieve $11 million in sales," said Eli Yaffe, CEO of Eltek."Throughout the quarter, Show less Read more
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