Picking up some ELTK with the crazy run CPSH has been on in recent days after getting pumped as a defense play. ELTK only earned a few pennies in Q4 before the tax benefit (hey that's better earnings than CPSH ha). But ELTK has a great balance sheet with $1.58/share in cash, an easy Q1 comp on the way, a healthy backlog increase and a low float.
Saw this in the 20-F filing-
Our backlog at December 31, 2021 was approximately $10.0 million compared to a backlog of approximately $6.8 million at December 31, 2020. We include in our backlog all purchase orders scheduled for delivery within the next 12 months.
And that doesn't include the $1.4M defense order ELTK announced in February. Probably why they were quite bullish during the CC on 3/23/22. This CC quote from the CEO seems to bode well for the coming quarters-
"As for the current situation, in Europe, we believe that governments will increase their spending on military project, which will positively reflect our revenue about 50% of our revenue are defense and aerospace-related. During the fourth quarter of 2021 and the beginning of 2022, our book-to-sell ratio increased significantly, which result in strong backlog. Therefore, we have decided to accelerate our planned capital investment and to try to implement them in a period of two years instead of five years. We are also investing a lot of efforts in recruiting new employees."
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