Eltek (ELTK) has released an update.
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Eltek Ltd., a global PCB manufacturer, reported a slight decline in its financial performance for Q2 2024, with revenues at $10.5 million and net income of $0.8 million, or $0.11 per fully diluted share. CEO Eli Yaffe attributed the downturn to a shift in customer orders towards lower-margin PCBs, delaying higher-margin orders to the following quarter. Despite the short-term setback, the company expects to rebound in Q3, backed by a 30% increase in backlog since the start of the year.
For further insights into ELTK stock, check out TipRanks’ Stock Analysis page.
