Eltek Ltd., a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards, announced its financial results for the first quarter of 2025. The company reported revenues of $12.8 million, marking an increase from $11.8 million in the first quarter of 2024. Net income for the quarter was $1.0 million or $0.15 per fully diluted share, compared to $1.7 million or $0.27 per share in the same period last year. Operating profit decreased to $0.7 million from $1.7 million in the first quarter of 2024. Despite the decline in net income and operating profit, Eltek experienced an 8% increase in revenues compared to Q1 2024 and an 18.5% increase from Q4 2024. The gross margin was affected by increased labor costs and the ramp-up of new production equipment, which temporarily led to lower yields. EBITDA for the quarter was $1.2 million, representing 9% of the revenues, down from $2.1 million or 18% of revenues in Q1 2024. Eltek's CEO, Eli Yaffe, stated that the company continues to experience strong demand for its products, with lead times increasing across all market sectors. The company is advancing its investment program as planned, with expectations to complete the accelerated investment plan by mid-2026. Eltek is preparing for the integration of new production lines to bring them into full production efficiently.
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