Eltek Reports Full Year and Fourth Quarter 2020 Financial Results

Eltek | 04-05-2021

Eltek Ltd., a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards, announced its financial results for the full year and fourth quarter ended December 31, 2020. 

Eli Yaffe, Chief Executive Officer, commented, "We are pleased with the growth in our revenues and profitability in the fourth quarter and the significant change in our full year results. The improved results reflect the growth in our revenues and the continued improved operating efficiencies.” 

Eltek has managed successfully through the COVID pandemic in 2020 because of the following actions:

In addition, we were able to emphasis the following:

"The outbreak and spread of the Coronavirus has created new operational and business challenges, including a shortage of certain raw material that we are dealing with. The Covid pandemic forced Eltek to start a new expense reduction plan at the end of 2020 that will reduce further the breakeven point of the company,” concluded Yaffe.

Highlights of the Full Year of 2020 compared to the Full Year of 2019

Highlights of the Fourth Quarter of 2020 compared to the Fourth Quarter of 2019