Eltek Ltd. (NASDAQ:ELTK) reported fourth-quarter results on Monday that showed a loss of $0.05 per share while generating revenue of $13.24 million, representing a 23% increase from $10.8 million recorded in the same quarter a year earlier.
The company said the year was affected by operational changes tied to the integration of new plating lines, staffing challenges, and currency pressures resulting from the U.S. dollar weakening by 13% against the Israeli shekel.
Shares of the printed circuit board manufacturer rose 3.87% in pre-market trading following the announcement.
For the full year 2025, Eltek reported revenue of $51.8 million, an 11% increase compared with $46.5 million in 2024. However, net income fell to $0.8 million, or $0.12 per diluted share, down from $4.2 million, or $0.63 per diluted share, in the previous year. The company noted that currency movements alone added roughly $2.2 million to operating expenses when measured in shekels.
“Our investment program over the past year reflects our strong conviction in the long-term growth of the high-performance PCB market, particularly in the defense, medical and high-end industrial sectors,” said CEO Eli Yaffe. “While the transition period presents ongoing operational challenges, we view these investments as foundational to our next phase of growth.”
Fourth-quarter EBITDA came in at $0.7 million, representing 5% of revenue, compared with $0.8 million, or 7% of revenue, in the fourth quarter of 2024. For the full year, EBITDA totaled $4.5 million, or 9% of revenue, down from $5.9 million, or 13% of revenue, in 2024.
The company added that global demand for high-performance PCBs continues to grow, especially in the defense and medical technology sectors, supported by rising defense spending, modernization efforts, and expansion in medical device markets.