for morning. Ron me With joining for Good earnings year Officer. the is fiscal you. Thank Financial third XXXX Chief us quarter Thank call. Freund, our you
with questions. of affected business providing results. our answer an of After our by of begin financial during results our the our principal will the followed details the third of your remarks, happy will you to We be by overview any we quarter summary factors prepared a and that
employee The release, our on XXXX. By behalf which also be on to have the October condolences that our murderous occurred outset the of like our to express terrorist the access families in earlier a X, ], today. of now, management [ everyone on to release website.
At was should those press its and attack will released available killed I company would
the soon. recovery of we and grieving safe speedy go the return the out the hearts Our the for families to injured kidnapped and of hope
to the who in fighting wounded of the during days. full the We wants IDF share these for battles have place pray soldiers recovery. and recent were families still who of that also peace grief the taking begun the We wish killed weeks the of soldiers are
Most been attendance levels. of are reporting standard no operating the and to consistently the currently minimal smoothly is of company to has our work very maintains activity on The impact war effect. and employees the
our underscored ensuring communication also not measures, domestic stock significance produce chain, ensure Israel flow offer of primary active material, of in and the in of employing with supply industry, to conflict As of PCB requirements, have bolstering resources.
The implemented to securing the our an critical including standard. advanced tailored quality specific essential circuits solutions, highest technological technologies such engaging continuous suppliers defense and but ongoing our intricate we state-of-the-art industry deliveries raw several advanced only
including profitability. those give orders, orders of for received the sectors Israeli beginning enables accordingly. entities of orders sector. immediate requirements granting needed. to it see swift immediate clock, government delivery XXX optimizing designated Additionally, to take we higher committed selection meet of demands our to our government from orders, by as are sector defense to Israeli production received goal manage from the other that status Contrarily Enterprise promote the capability companies with year operate strategy delivery to those the place around We the the permission and defense backlog remain Eltek ], income days profitability including to production. while a us PCBs.
We precedence to strong pricing ensuring priority we the as Essential directly with [ our and purchase Orders holds for
the believe trend sector long-term Looking that in will ahead, we defense continue. demand worldwide increased
throughout the project projects. coming income of are project. We are Therefore, from orders expect the received The throughout this in this several involved we for of long-term the years. life the customer stream project
increase a in in decrease to caused than factor. this to products a were defense become in Western time, for the way for continued which production from products.
At times the demand for in more Europe, European price the demand due lead customers experiencing secondary PCB that such demand countries an double, in country, also are mainly We increased
As delay plan, for in pace our accelerated employing investment limited in to the machines. new the of lead current Israel situation may a
we see today, don't delays. any of As
working the In allow in respond addition software production fully to equipment, to need investments we the our are upgrade to customers. our the of also to us engineering to
our fill our of $XX.X During $X.X us quarter We has XXXX of net will accordingly.
And number of employment more -- production the now positions there hope million trend of will months, the market for that easily capacity recent to revenue a and and and a we increase this [indiscernible] with felt ended interviews. results. open applying third profit allow QX the greater our We of that individuals changed, trend is strengthen and million.
capacity, to the policy the orders acceptance margin quarter. that policy.
Due of to to the the $X.X to we I'm the maximize itself sold gross of in and is QX sure X high of million result of we with consideration months excellent last we try gross net XXXX, products glad had consideration. and of gross proven For The high during demand with and of and margin order revenue this choose pricing during million limitation $X profit. made a profit this a has our $XX.X efficiency is operational million the profitability first of an level XX%, the and of the production margin of profitability profitability quarters purchase mix high due with the of high
our XX% target gross margin. keeping are medium-term of We
to quarter, third continued During rate rise. NIS dollar against the the the
the quarter, exchange recorded As we a result, income $X.X of of in rate amount third million.
million. balance As amounted $XX.X of XXXX, XX, cash September our to
balance have most We deposits. the of in invested interest-bearing
hedge hold substantial the CFO, range in turn will Freund, drop the risk part decided a to sharp over in now financial to to results. also dollar Ron exchange our this of rate.
I NIS a from call discuss balance We our to
