Eltek Q3 Profit Down, Revenues Rise

(RTTNews) - Eltek Ltd. (ELTK), a manufacturer of printed circuit boards or PCBs, reported Tuesday that its third-quarter net income dropped to $1.71 million or $0.25 per share from last year's $2.15 million or $0.36 per share.

Revenues grew 14 percent to $13.52 million from prior year's $11.86 million.

Eltek further said its Board of Directors has adopted a dividend policy, effective from 2024 year-end onwards. The policy will allow for an annual distribution of up to 25 percent of net income.

In pre-market activity on the Nasdaq, the shares were losing around 1.8 percent to trade at $11.00.

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