Elec & Eltek International Company Limited provided earnings guidance for the first quarter ended March 31, 2015. The board of directors of the company announced the shareholders of the company and investors that, based on a preliminary review of the unaudited management accounts of the company and its subsidiaries, the group is expected to record a loss for the quarter ended March 31, 2015. During the same period in 2014, the Group recorded an unaudited net profit of USD 1.2 million.

Based on the information currently available, the loss is mainly attributable to slower order intake which resulted in lower capacity utilization of the Group's manufacturing operations in China during the first quarter, and a charge for potential quality claims from customers. The provision amount is still being finalized by the directors of the company. Nevertheless, the Directors consider that the overall financial position and operations of the Group remain sound and healthy.