October 01, 2016 1:31 AM 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 Dividend, Payable on September 26, 2016

Elron Electronic Industries Ltd. announced that on August 29, 2016, the company has decided to pay a dividend in respect of the company's shares of $0.50431. The amount of the dividend to be paid is $15,000,000. The record date is September 12, 2016; ex-dividend date is September 12, 2016 and the payment date is September 26, 2016.

Elron Electronic Industries Ltd., Annual General Meeting, Sep 21, 2016

Elron Electronic Industries Ltd., Annual General Meeting, Sep 21, 2016, at 15:30 Israel Standard Time. Location: at 3 Azrieli Center Triangular Tower, Floor 42) Tel Aviv Israel Agenda: To consider reappointment of Messrs. Eduardo Elsztain, Saul Zang, Amiram Erel and Ms. Yael Andorn (an independent director) as directors of the Company for an additional term of office until the Company’s next annual general meeting, all in addition to the external directors holding office; and to re-appoint Kost Forer Gabbay & Kasierer, Accounting Firm, as the Company's auditors for an additional term until the Company's next annual general meeting and authorization of the Company's audit committee and board of directors to determine their auditing fees.

Elron Electronic Industries Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

Elron Electronic Industries Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported income of $1,195,000 against $1,924,000 a year ago. Loss before taxes on income was $4,525,000 against $6,249,000 a year ago. Net loss attributable to the company's shareholders was $4,290,000 or $0.14 per basic and diluted share against $5,231,000 or $0.18 per basic and diluted share a year ago. Net cash used in operating activities was $3,528,000 against $5,838,000 a year ago. Purchase of property and equipment was $51,000 against $152,000 a year ago. For the six months, the company reported income of $2,553,000 against $12,049,000 a year ago. Loss before taxes on income was $9,587,000 against $3,010,000 a year ago. Net loss attributable to the company's shareholders was $9,201,000 or $0.31 per basic and diluted share against $316,000 or $0.01 per basic and diluted share a year ago. Net cash used in operating activities was $8,418,000 against $9,463,000 a year ago. Purchase of property and equipment was $145,000 against $158,000 a year ago.

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