June 23, 2017 2:09 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, cyber security, information technology, and enterprise software. The company develops minimally invasive platform for the treatment of patients suffering from central nervous system diseases; and automated laboratory system for clinical microbiological laboratories and hospitals to diagnose pathogens in body fluids, such as urine, throat and nasal swab, blood, sputum, and cerebrospinal fluids. It also develops military technologies. The company was founded in 1961 and is headquartered in Tel Aviv, Israel. Elron Electronic Industries Ltd. is a subsidiary of Discount In...

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: $646.0K
Chief Financial Officer
Age: 38
Total Annual Compensation: $371.0K
Chief Executive Officer of Kyma
Total Annual Compensation: $364.0K
Vice President of Cyber Investments
Age: 42
Total Annual Compensation: $371.0K
Chief Technology Officer of Kyma and General Manager - Israel of Kyma
Total Annual Compensation: $220.0K
Compensation as of Fiscal Year 2016.

Elron Electronic Industries Ltd. Key Developments

Elron Electronic Industries Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017

Elron Electronic Industries Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported, income of $1,630,000, loss before taxes on income of $7,005,000, loss attributable to the company's shareholders of $6,063,000, net cash used in operating activities of $3,871,000, purchase of property and equipment of $140,000, compared to income of $1,996,000, loss before taxes on income of $5,062,000, loss attributable to the company's shareholders of $4,911,000, net cash used in operating activities of $4,890,000, purchase of property and equipment of $94,000, for the same period a year ago. Basic and diluted loss per share was $0.20 against $0.17 a year ago.

Elron Electronic Industries Ltd. Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2016 and Unaudited Consolidated Earnings Results for the Quarter Ended December 31, 2016

Elron Electronic Industries Ltd. announced audited consolidated earnings results for the year ended December 31, 2016 and unaudited consolidated earnings results for the quarter ended December 31, 2016. For the year, the company reported financial income of $2,437,000 against $1,112,000 a year ago. Loss before taxes on income was $29,535,000 against income of $10,393,000 a year ago. Net loss attributable to the company's shareholders was $26,814,000 or $0.90 per basic and diluted share against income of $2,451,000 or $0.08 per basic and diluted share a year ago. Net cash used in operating activities was $15,810,000 against $20,648,000 a year ago. Purchase of property and equipment was $631,000 against $452,000 a year ago. For the quarter, the company reported net loss attributable to the shareholders of $9.3 million or $0.31 per share against $3.5 million or $0.12 per share a year ago. Loss before taxes on income was $11.2 million against $2.3 million a year ago.

Elron Electronic Industries Ltd. Appoints Kesselman & Kesselman as Joint Auditor

Elron Electronic Industries Ltd. at the special general meeting of the shareholders convened on February 27, 2017, appointed the accounting firm of Kesselman & Kesselman (PWC) as the joint auditors of the company, such that the accounting firm of Kost Forer Gabbay & Kasierer and the accounting firm of Kesselman & Kesselman (PWC) will serve as the company's auditors, jointly, until the end of the next annual general meeting of the company.

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