Eltek Ltd. announced its financial results for the first quarter ended March 31, 2025, reporting revenues of $12.8 million. This marks an increase of approximately 8% compared to $11.8 million in the first quarter of 2024. Revenues were also 18.5% higher than the fourth quarter of 2024.
Net income for the quarter totaled $1.0 million, or $0.15 per fully diluted share, compared to $1.7 million or $0.27 per share in Q1 2024. Gross margin was 17% of revenues, a decrease from 28% in Q1 2024, primarily due to increased labor costs and lower yields during the ramp-up of new production equipment.
CEO Eli Yaffe confirmed that the accelerated investment program remains on track for completion by mid-2026. The company continues to experience strong demand for its products, with lead times increasing across all relevant market sectors. Cash and short-term bank deposits stood at $15.7 million as of March 31, 2025, with no outstanding debt.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.