Israel's Eltek Q2 revenue falls; posts net loss
Israel's Eltek Q2 revenue falls; posts net loss
Overview
Israel printed circuit board maker's Q2 revenue declined yr/yr
Company posted Q2 net loss, compared to net income a year ago
Losses attributed to transition period and manufacturing stabilization efforts
Outlook
Eltek expects to begin qualification of its new PCB plating line in the third qtr
Company says transition efforts aim to improve operational and financial performance in future periods
Result Drivers
MANUFACTURING TRANSITION - Co said results reflect a transition period focused on stabilizing manufacturing operations and building infrastructure for future growth
CURRENCY IMPACT - Financial expenses primarily resulted from the erosion of the U.S. dollar against the NIS
Company press release: ID:nPn4CHh0Na
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $11.53 mln |
|
Q2 Net Loss |
| $2.74 mln |
|
Q2 EBITDA |
| -$1.93 mln |
|
Q2 Gross Loss |
| $964,000 |
|
Q2 Operating Income |
| -$2.55 mln |
|
Q2 Pretax Loss |
| $3.24 mln |
|
Analyst Coverage
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)