you. earnings and XXXX fourth welcome and for full year morning, to quarter joining us, everyone. Thank Eltek's Thank call. you Good
With me Officer. Chief our is Freund, Ron Financial
be access will be happy release press our to during principal release, www.nisteceltek.com. We that our have business available By questions. today. remarks, the by which overview website affected should an of our will summary The the of at will we released our After providing everyone begin to and details by answer our prepared your you with XXXX, results of on results. any followed now, factors was earlier financial our of also
achieved and over execution demand with of of the sales to million. the million year, thanks in we growth our successful quarter. for These of great of products. are our were company our for to pace our the to last employees, of two sales $XX able we increased This demand result results per of In team plan XXXX, year $XX achieve of activities. a was XXXX dedicated the growing the quarters keep almost products the
a the higher backlog company with trends demand we and past the We due of for of over ended year. the anticipate backlog mainly prevailed will than years have is the of two XX% to products XXXX which continue in few that The increase the in beginning XXXX.
one first East in the due manufacturing shift is manufacturing in the and The Western IP security to the the from complex consideration. to plants countries PCB
market, benefit And have are these We active aerospace, which trend. in on we mainly aviation defense from out this therefore, the to continue and aspects. importance military and put benefited
occurred in of XX% We for is the that during orders led defense political our PCBs budget their issue the are defense revenues year defense trend last the which industry. and for situation estimate that many product. second to The Eastern governments Europe, increase about
reliability from high PCB. market notice the continue demand We for to flex-rigid higher Indian
are working production on technologies expanding We the in raw range to market. latest needs constantly products products, new the adopting of and our using our changed due the while of range adopting materials
at will phase efficiency with sales. us $X product In and the invest plan, the and and processes. investment XXXX, of increase accelerate we our increased quarter Phase million of the first as and level. where includes equipment lines to for to machines increase continue well the higher we the our allow machines, of and manufacturers approximately to to as XXXX, During production invest a of optimization technological of decided X in aim will This new enable we installation manufacturing enter new plan output,
we June target one broke with July production our out of increased XX%. and anticipate in efficiency that sales margin XXXX, expect successfully growth long-term our will We plan and for gross rooms. increase support -- the long-term of In dealt that our fire of
to receive negotiation compensation soon. company have not we suffered. for hope today, conclude damages we the of As a the We this the full insurance finished with to negotiation
During QX, program activity the participation is in our royalty Innovation investment in part Israeli to and future program, of high-quality received approximately to bearing This for $XXX,XXX research in XX% IIA, Authority, which bring final and from development products XXXX. drive the started approval growth. new January we market one-year development
a We operating ended of XXXX activity and of of $X.X $X.X EBITDA $X.X with cash cash net $X.X profit a of provided million approximately million. balance million, million, net
we the balance and profitability. profitability in point are the an growth XXXX, company plan strong in sheet consistent continue and starting which Our for excellent revenue to
our turn I the financial to will now over call discuss CFO, results. to our Freund, Ron
