Eltek Ltd. announced its financial results for the second quarter ended June 30, 2025, reporting revenues of $12.5 million. This represents a 20% increase compared to $10.5 million in the second quarter of 2024. Revenues for the first six months of 2025 totaled $25.3 million, up 14% from $22.2 million in the same period of 2024.
Gross margin expanded significantly to 24.1% in Q2 2025 from 15.6% in Q2 2024, driven by operational improvements and a favorable product mix. Operating income also saw a substantial increase, reaching $1.5 million in Q2 2025, up from $0.4 million in Q2 2024.
Net income for Q2 2025 was $0.4 million, or $0.05 per diluted share, compared to $0.8 million or $0.11 per share in Q2 2024. This was primarily impacted by a $1.0 million financial expense resulting from a 9% devaluation of the U.S. dollar against the Israeli shekel. The company has adjusted its pricing model to mitigate future currency shifts.
Regarding its investment plan, all equipment delivered to date has been successfully installed. Construction for the new 60-meter coating lines is progressing on schedule, though the delivery of the first line is now expected toward the end of 2025. Staffing has increased by approximately 10% since January to meet growing demand.
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