Elron Electronic Industries Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 15, 2021 at 01:10 am EST
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Elron Electronic Industries Ltd. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported negative revenue was USD 2.69 million compared to revenue of USD 7.83 million a year ago. Net loss was USD 6.01 million compared to net income of USD 0.255 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to basic earnings per share from continuing operations of USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.12 compared to diluted earnings per share from continuing operations of USD 0.01 a year ago.
For the nine months, revenue was USD 20.44 million compared to USD 7.94 million a year ago. Net income was USD 2.8 million compared to net loss of USD 11.42 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to basic loss per share from continuing operations of USD 0.27 a year ago. Diluted earnings per share from continuing operations was USD 0.06 compared to diluted loss per share from continuing operations of USD 0.27 a year ago.
Elron Electronic Industries Ltd. is an operational holding company that focuses on building and enhancing technology companies, mainly in the field of medical devices. Its group companies include companies at different stages of development and business maturation, operating in various technology fields, such as medical device and other fields. It is involved in the management of its group companies by means of membership and providing assistance to management. It operates in the Holdings and Corporate Operations segment. It is engaged in matters of policy guidance, strategic planning, marketing, selecting and manning senior management positions, determining the business plan, approving investments and budgets, development and operational guidance, assistance in creating strategic partnerships, and the overall ongoing monitoring of its group companies' performance. Its main group companies include BrainsGate Ltd, Pocared Diagnostics Ltd. and RDC Rafael Development Corporation Ltd.
ELRON VENTURES LTD 
