Elron Ventures Ltd Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 06:31 am
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Elron Ventures Ltd reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 89.82 million compared to negative revenue of USD 2.69 million a year ago. Net income was USD 83.86 million compared to net loss of USD 6.01 million a year ago. Basic earnings per share from continuing operations was USD 1.62 compared to basic loss per share from continuing operations of USD 0.12 a year ago. Diluted earnings per share from continuing operations was USD 1.54 compared to diluted loss per share from continuing operations of USD 0.12 a year ago.
For the nine months, revenue was USD 91.94 million compared to USD 20.44 million a year ago. Net income was USD 75.6 million compared to USD 2.8 million a year ago. Basic earnings per share from continuing operations was USD 1.46 compared to USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 1.39 compared to USD 0.06 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.