Eltek Ltd (ELTK) Reports Q3 EPS of $0.09

Eltek Ltd (NASDAQ: ELTK) reported Q3 EPS of $0.09, versus ($0.23) reported last year. Revenue for the quarter came in at $9.3 million, versus $8.5 million reported last year.

Mr. Eli Yaffe, Chief Executive Officer, commented: "We are pleased with our growth in revenues and profitability in the third quarter\'s results. The improved results are a consequence of the implementation of our previously announced turnaround plan."

Highlights of the Third Quarter of 2019 compared to the Third Quarter of 2018

• Revenues for the third quarter of 2019 were $9.3 million compared to revenues of $8.5 million in the third quarter of 2018;
• Gross profit increased from $973,000 (11.4% of revenues) in the third quarter of 2018 to $1.8 million (19.1% of revenues) in the third quarter of 2019;
• Operating profit was $568,000 this quarter as compared to an operating loss of $307,000 in the third quarter of 2018;
• Net profit was $391,000, or $0.09 per fully diluted share in the third quarter of 2019 compared to a net loss of $463,000, or ($0.23) per fully diluted share, in the third quarter of 2018;
• EBITDA was $940,000 in the third quarter of 2019 compared to EBITDA of $109,000 in the third quarter of 2018;
• Net cash provided by operating activities amounted to $1.4 million in the third quarter of 2019 compared to net cash provided by operating activities of $164,000 in the third quarter of 2018.

For earnings history and earnings-related data on Eltek Ltd (ELTK) click here.

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