Eltek Ltd. (NASDAQ:ELTK) Q4 2022 Earnings Call Transcript

Q €“ Unidentified Analyst: Okay. Got it. And I think I heard you say gross margin goal is 24%

A €“ Ron Freund: Yes.

Q €“ Unidentified Analyst: And I know you don’t give projections, but is that a near-term or long-term goal, or can you give us any guidance when that could happen?

A €“ Ron Freund: We are on the way to be there once the investment that we announced, about $8 million investment will be accrued and finished, we will be there. But on the way, we will be on the way to 24.

A €“ Eli Yaffe: So we anticipate that within two to three years we will be there.

Q €“ Unidentified Analyst: Okay. That’s fair enough. Okay. I think all my other questions have been answered. Thank you.

A €“ Ron Freund: Thank you.

Operator: There are no further questions at this time. Before I ask Mr. Yaffe to go ahead with his closing statement, I would like to remind the participants that a replay of this call will be available tomorrow on Eltek’s website. www.nisteceltek.com

Eli Yaffe: Before we conclude our call, I would like to thank all our employees for their continued efforts to meet our strategy of increased sales and profitability. I would like also — thank all our customers, partners, investors and to the team for their continued support. Thank you all for joining us on today’s call. Have a good day.

Operator: This concludes the Eltek Limited 2022 Full Year and Fourth Quarter Financial Results Conference Call. Thank you for your participation. You may go ahead and disconnect.