August 26, 2016 1:58 PM ET

Diversified Financial Services

Company Overview of Elron Electronic Industries Ltd.

Company Overview

Elron Electronic Industries Ltd., through its subsidiaries, operates in various technology fields comprising medical devices and other fields in North America and internationally. It develops, manufactures, and markets an automated diagnostic system for microbiological laboratories and hospitals primarily for the diagnosis of urinary tract infections; therapies for patients suffering from central nervous system diseases; systems and services for remote monitoring of patients with age-related macular degeneration; implants for the treatment of cartilage and bone damage in weight bearing joints, such as the knee; and mitramaze valve repair system intended for the treatment of functional mitral...

3 Azrieli Center

42nd Floor

Tel Aviv,  6702301

Israel

Founded in 1961

Phone:

972 3 607 5555

Fax:

972 3 607 5556

Key Executives for Elron Electronic Industries Ltd.

Chief Executive Officer
Age: 46
Total Annual Compensation: $802.0K
Chief Financial Officer and Vice President
Age: 38
Total Annual Compensation: $447.0K
Chief Executive Officer of Kyma
Total Annual Compensation: $364.0K
President of Asia-Pacific/Japan
Total Annual Compensation: $886.0K
Controller
Total Annual Compensation: $176.0K
Compensation as of Fiscal Year 2015.

Elron Electronic Industries Ltd. Key Developments

Elron Electronic Industries Ltd. Announces Unaudited Consolidated Earnings Results for the Three Months Ended March 31, 2016

Elron Electronic Industries Ltd. announced unaudited consolidated earnings results for the three months ended March 31, 2016. For the three months, the company reported loss before taxes on income was $5,062,000 against income of $10,393,000 a year ago. Net loss attributable to the company's shareholders was $4,911,000 against income of $2,451,000 a year ago. Basic and diluted net loss per share was $0.17 against basic and diluted net income per share of $0.08 a year ago. Net cash used in operating activities was $4,890,000 against $20,648,000 a year ago. Purchase of property and equipment was $94,000 against $452,000 a year ago.

Elron Electronic Industries Ltd. Announces Executive Changes

Elron Electronic Industries Ltd. announced that Mr. Arie Ovadia resigned as director of the company. The company also filed the updated list of its Officers and Directors reflecting the above change as well as the appointment of Mr. Eduardo Elsztain as Chairman of the board of directors of the company and Mr. Saul Zang as Vice Chairman of the board of directors of the Registrant.

Elron Electronic Industries Ltd. Announces Consolidated Earnings Results for the Year Ended December 31, 2015

Elron Electronic Industries Ltd. announced consolidated earnings results for the year ended December 31, 2015. For the year, the company reported financial income of $899,000 against $8,875,000 a year ago. Income before taxes on income was $2,451,000 against $115,266,000 a year ago. Net income attributable to the company's shareholders was $2,451,000 against $85,494,000 a year ago. Total comprehensive income attributable to the company's shareholders was $2,328,000 against $85,073,000 a year ago. Net cash used in operating activities was $4,446,000 against $5,456,000 a year ago.

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