Brief: Eltek Reports Q3 Loss Per Share Of $0.23

Eltek

20/12/2018 12:59

Dec 20 (Reuters) - Eltek Ltd  ELTK.O :
    * ELTEK REPORTS 2018 THIRD QUARTER FINANCIAL RESULTS
    * Q3 LOSS PER SHARE $0.23
    * Q3 REVENUE $8.5 MILLION VERSUS $7.7 MILLION
    * AS OF SEPTEMBER 30, 2018, COMPANY WAS NOT IN COMPLIANCE
WITH ITS
FINANCIAL COVENANTS WITH ITS BANKS
    * AND DOES NOT EXPECT TO BE IN COMPLIANCE AT DECEMBER 31,
2018
    * HAS INITIATED DISCUSSIONS WITH ITS BANKS TO OBTAIN WAIVERS
FOR
SUCH NON-COMPLIANCE
    * LONG TERM BANK LOANS AMOUNTING TO $215,000 WERE
RECLASSIFIED
FROM LONG TERM TO SHORT TERM

Source text for Eikon:  ID:nPn1QvVZSa 
Further company coverage:  ELTK.O 

 (Reuters.Briefs@thomsonreuters.com)