-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
The Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
The Fabricator’s Guide to IPC APEX EXPO
This issue previews many of the important events taking place at this year's show and highlights some changes and opportunities. So, buckle up. We are counting down to IPC APEX EXPO 2024.
- Articles
Article Highlights
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
Eltek Reports 2021 First Quarter Financial Results
May 21, 2021 | EltekEstimated reading time: 2 minutes
Eltek Ltd., a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), announced its financial results for the quarter ended March 31, 2021.
“Despite the global challenges we encountered related to both the Covid-19 pandemic and the shortage of key raw materials, we were able to respond quickly, maintain operational efficiency and remain profitable in the first quarter”, said Eli Yaffe, Chief Executive Officer of Eltek. “We expect that revenues will rebound during the rest of the year and lost sales will be recovered upon the expected availability of key raw material (Pyralux AP) which was in short supply and with the authorization of the use of alternative raw materials by our customers,” added Mr. Yaffe. “The approval process with our customers for the use of the alternative raw materials is proceeding as planned and, is reducing our production costs. In addition, we are exploring ways to strengthen our position in the multi-billion dollar PCB market in North America, and can serve as a rapid growth engine for Eltek”, further explained Mr. Yaffe.
“We are operating in a challenging business environment and making the necessary adjustments to increase revenues, expand our operating efficiencies, improve customer satisfaction and maintain sustained profitability. We plan to strengthen our sales activities and continue our investments in new equipment to expand our manufacturing facilities and infrastructure during the remainder of the year as part of our strategic growth plan. Our board of directors approved our obtaining a loan of NIS 10 million (approximately $3.1 million) from Bank Leumi B.M. The loan has a term of ten years, with favorable terms, including a repayment schedule that starts after a 12 month grace period and carried interest of Prime + 1.50%, which is waived for the first year of the loan”, concluded Mr. Yaffe.
Highlights of the First Quarter of 2021 compared to the First Quarter of 2020
- Revenues were $7.2 million in the first quarter of 2021 compared to revenues of $9.2 million in the first quarter of 2020
- Gross profit was $1.1 million (15.9% of revenues) in the first quarter of 2021 compared to $1.8 (19.7% of revenues) in the first quarter of 2020
- Operating profit was $136,000 in the first quarter of 2021 compared to operating profit of $612,000 in the first quarter of 2020
- Net profit was $223,000 or $0.04 per fully diluted share for the first quarter of 2021 compared to net profit of $541,000 or $0.12 per fully diluted share in the first quarter of 2020
- EBITDA was a $577,000 (8.0% of revenues) in the first quarter of 2021 compared to EBITDA of $1.0 million (11.0% of revenues) in the first quarter of 2020
- Net cash provided by operating activities amounted to $2.5 million in the first quarter of 2021 compared to net cash provided by operating activities of $1.5 million in the first quarter of 2020
- Cash and cash equivalents as of March 31, 2021 were $6.4 million compared to $4.7 million as of December 31, 2020
Suggested Items
IPC Design Competition Champion Crowned at IPC APEX EXPO 2024
04/24/2024 | IPCAt IPC APEX EXPO 2024 in Anaheim, California, five competitors squared off to determine who was the best of the best at PCB design.
Real Time with... IPC APEX EXPO 2024: all4-PCB, A Premier Solution Provider for the PCB Industry
04/22/2024 | Real Time with...IPC APEX EXPOIn the PCB industry, all4-PCB, is a top-tier equipment supplier and process solution provider. Ralph Jacobo highlights the active market and the demand for high-quality equipment, discusses their existing customers, investment in advanced substrates, and smaller board shops.
The Pulse: Drilling Down on Documentation
04/18/2024 | Martyn Gaudion -- Column: The PulseHow did a product aimed at signal integrity end up being more about documentation? For a little backstory, the Polar team has an unspoken “no business speak” rule at certain times. So, why is this column titled “Drilling Down?” I find it fascinating when a company sets off in one direction, but customers steer it in another. That’s what has happened here as customers took a product down a fork in the road we couldn’t predict. Your destination isn’t always where you initially set off to go, and that’s how we got to our subject of drills and drill documentation.
Real Time with... IPC APEX EXPO 2024: IPC Government Relations Holds Lawmakers Accountable
04/16/2024 | Real Time with...IPC APEX EXPOThe IPC Government Relations team is constantly educating Congress and the executive branch about the importance of a robust domestic electronics manufacturing industry. As Richard Cappetto explains, the GR team is focused on proactive strategies, workforce policies, and sustainability, as well as the significance of apprenticeship programs, President Biden's executive order, and employer incentives. Also discussed is the PCB Act, its investment program, tax incentive, and DoD's understanding of supply chain risk.
Catching Up With Chasom Electronics
04/16/2024 | Dan Beaulieu, D.B. Management GroupI recently met with Chasom Electronics’ founding director Anil Kumar. Chasom offers a unique menu of services for companies looking to extend their technology capabilities on a short- or long-term basis. Read on to learn about this very unique service company.