- Earnings call transcript Q3 2022

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Eltek Ltd. 2022 Third Quarter Financial Results Conference Call. All participants are present in listen-only mode.

Following management's formal presentation instructions will be given for the question-and-answer session. reminder, is a recorded. As Instructions] this being conference [Operator

assumptions forward-looking statements to public Mr. call Chief occurring Chief Before turn today's Yaffe. they like or information the These to statements to to Actual be projections filings. Financial you differ to obligation subject current referring and Mr. in over and to disclosure Eltek's and the results Eli measures. beliefs outlined no here reflect referring subsequent forecast or will will I'd now this the such more circumstances date. expectations Freund, forward-looking materially. the company. By I about are fully turn I future this information its call the in go Ron ahead. risks over presentation Eli non-GAAP expectations nature, to Yaffe, and forward-looking that be and Executive Officer, remind also Officer; undertakes publicly to outcomes, release discussed in Please of reflect Q&A. We'll may contains the and to to which and events are Eltek events revisions uncertainties

Eli Yaffe

Thank Eltek's joining our call. you morning, and welcome Officer. us, to Financial Chief Thank Good me is you. XXXX everyone. earnings quarter Freund, third for With Ron

should the The our revenue we at income our answer of was quarter everyone the By by the be happy efforts increase summary quarter of will www.nisteceltek.com. will website available that also begin net followed to your We XXXX, $X.X This our any have of which by be of affected the income access will profitability. consistent providing prepared of questions. overview results. of $X principal After release, factors of pretax third release and press of a is million, we results and million you business released million. with revenue and our In an to third earlier to now, a our $XX.X remarks, recorded with today. our on our financial in details

Our the and to well. efforts. efforts support forecasting that continue backlog activity growing area in quarter-over-quarter demand to products remained sales strong and this The concentrate for we company's will is high-end we are commercial continue our overall as

the among the We with and PO. have authority not receive of but procurement the concluded did XXXX the projects other equipments. negotiation and and regarding manufacturing in This continuation government things, products of will of third we include official project yet phase the XXXX, capital

successfully the intend installed manufacturing additional to of machines and XXXX. two During the new three quarter, machines we install in third fourth quarter

investment to us As profitability. you're first which of to aware, we allow are our phase increase accelerated sales program, the working and implement will

focusing incurred our the in earlier year. the in recover company are this discussion fire our We during the expenses insurance with to plant

$X million the which more months. Freund, process for to I we have increase complicated, turn of to will continue recruitment beginning over several discuss statement. payment, I financial to meet our the will but production training We as employees that new to Ron advanced our efforts and of XXXX, for now CFO, covered have by XX% long our call the estimate is received part workforce The Since our demand. increased expenses. managed our

Ron Freund

you, the third Thank Eli. like of statements the quarter I attention for would financial draw your to to XXXX.

EBITDA use. will measurement. its reasons measures. definition performance non-GAAP Eltek discuss uses a Please also release non-GAAP its I as During certain for and see for earnings our financial this the call, financial

$XX.X gross million million in months compared last $X.X XXXX $X.X XX%. increase million quarter $X the third quarter for revenues. of for totaled to an totaled over nine compared nine per $XX.X to QX $X.XX the Net nine QX in XX%. million or nine in of $X.X profit to was million million million million will profit an XXXX quarter XXXX. $X.X is profit increase million for period million to I same $X.X profit the months months in nine million $X profit first and a go the compared of for highlights XXXX first in QX million of of $XX.X EBITDA the in first third first of $X totaled increase to in XXXX in XXXX to the share in in the increase the of XXXX XXXX. of compared Revenues XXXX profit gross Revenues to profit to million totaled XXXX. third Now for compared in XXXX Operating XXXX. the XXXX, million million of XXXX totaled last the of was QX in same third of months amounted in due same period months profit months quarter the Gross in compared The period year, of the first Gross the of net XXXX. million income the $X.X million year. to Net compared $X.X year. first was to QX $X.X compared $X.X Operating $X.X $X.X to in last XXXX. XXXX nine $X.X million of QX of compared

in compared year. XXXX, million nine million months first was For of to same EBITDA the last $X.X the period $X.X

equivalents at of September million and the U.S. $X.X cash of had XXXX. compared XX, $X.X is of the December to dollar million against NIS. XX, to As due mainly cash revaluation the The XXXX, we decrease

are questions. We take your ready now to

Operator

this at questions no are There time.

that of I www.nisteceltek.com. Yaffe on Eltek's Before to tomorrow website, will the call replay closing ahead available with be Mr. statement, like would go ask this I participants remind his to a

make like would statement? Mr. Before your concluding conclude – Yaffe, would you I call, like our we to

Eli Yaffe

Yes. you. Thank

all call. like good you for thank Thank all would our partners, like effort a strategy also profitability. team continued to we and our I on us employees and day. Before meet sales joining Eltek customers, today's thanks continued call, to conclude their increased of I for all their our our investors to for support. would Have

Operator

XXXX for results Thank financial the call. you quarter conference concludes participation. Eltek third your This Ltd.

You may disconnect. go and ahead

Eltek (ELTK) 16 Nov 222022 Q3 Earnings call transcript