Eltek Reports a 241% Growth in Net Income and a 26% Increase in Revenues for the 1st Quarter of 2006 During 'normal' periods, these results would have had a huge positive impact on the share price. Nowadays, i am not so sure. Bad results have a harsh negative impact, but positives are more or less shrugged off
Tuesday June 6, 7:08 am ET
PETACH-TIKVA, Israel--(BUSINESS WIRE)--June 6, 2006--Eltek Ltd. (Nasdaq:ELTK - News): Seventh consecutive quarter of year-over-year organic revenue growth - Revenues increased to $ 9.3 million, up 26% sixth consecutive quarter of profitability - Quarterly net income increased by 241% to $ 613 thousand in Q1 2006 from $ 179 thousand in Q1 2005 EPS of $ 0.09 per fully diluted share compare to $ 0.03 per fully diluted share in Q1 2005 New business , mainly in the U.S., leads Company to further expand its production capacity
Eltek Ltd. (Nasdaq:ELTK - News), the leading Israeli manufacturer of advanced flex-rigid circuitry solutions, today announced its financial results for the first quarter of 2006.
First Quarter 2006 Key Financial Highlights:
Revenues increased to $ 9.3 million, up 26%. Quarterly operating income of $ 783 thousand, up 152% Quarterly net income grew 241% to $ 613 thousand, or $ 0.09 per fully diluted share EBITDA of $ 1.3 million in Q1 2006 compared to EBITDA of $ 1 million in Q1 2005 Eltek reported revenues for the three months ended March 31, 2006 of NIS 43.4 million ($ 9.3 million) compared with NIS 34.4 million ($ 7.3 million) for the first quarter of 2005.
The increase in revenues is attributed to the gaining of new customers and new projects with existing customers.
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