Eltek Slips To Loss In Q3 - Quick Facts

(RTTNews) - Eltek Ltd. (ELTK) Wednesday reported third-quarter net loss attributable to the company of $532 thousand, compared to a profit of $585 thousand in the prior year. Loss per share was $0.05, as against earnings of $0.09 per share last year.

During the third quarter of 2014, the company recorded one-time expenses of $559 thousand. This expense reflected its previously announced management downsizing, and a goodwill impairment charge associated with acquisition of its German subsidiary, Kubatronik.

Excluding one-time expenses, net profit for the third quarter was $27 thousand.

Revenues for the quarter declined to $11.73 million from $12.76 million in the preceding year.

Selling, general and administrative expenses advanced to $1.87 million from $1.61 million in the previous year.