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Stock impact report

Eltek Ltd. Reports 2023 Second Quarter Financial Results [Yahoo! Finance]

Eltek Ltd. - Ordinary Shares (ELTK) 
US:NASDAQ Investor Relations: eleceltek.com/en/financial.php?tid=5
Company Research Source: Yahoo! Finance
PETACH TIKVA, Israel Aug. 21, 2023 June 30, 2023 Second Quarter 2023 Highlights Revenues were $11.0 million , 21% up over Q2 2022 Operating profit was $1.4 million , 300% up over Q2 2022 Profit before tax was $1.6 million (2022 Q2 - $1.0 million Net income was $1.3 million or per fully diluted share, 74% up over Q2 2022 As 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, we continued to experience the demand for our high-end, high-reliability products. In light of the continued demand for our products, we continue our efforts to recruit employees and to procure and insta Show less Read more
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