Eltek Receives Purchase Orders Totaling $3.5 Million

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Aug 27, 2024, 08:40 ET

PETACH TIKVA, Israel, Aug. 27, 2024 /PRNewswire/ -- Eltek Ltd. (NASDAQ: ELTK), a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards, announced today that it received orders totaling $3.5 million from two defense customers. The products are with high technology requirements and to be delivered beginning in the fourth quarter of 2024 through the end of 2026. The Company expects to receive additional long-term orders from these customers in the near term.

"The orders are in accordance with our policy of striving for long-term orders which allow optimal production planning and maximum efficiency and profitability," commented Eli Yaffe, CEO of Eltek.

About Eltek

Eltek – "Innovation Across the Board," is a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs) and is an Israeli leading company in this industry. PCBs are the core circuitry of most electronic devices. Eltek specializes in the manufacture and supply of complex and high-quality PCBs, HDI, multilayered and flex-rigid boards for the high-end market. Eltek is ITAR compliant and has AS-9100 and NADCAP electronics certifications. Its customers include leading companies in the defense, aerospace and medical industries in Israel, the United States, Europe and Asia.

Eltek was founded in 1970. The Company's headquarters, R&D, production and marketing center are located in Israel. Eltek also operates through its subsidiary in North America and by agents and distributors in Europe, India, South Africa and South America.

For more information, visit Eltek's web site at www.nisteceltek.com.

Forward Looking Statement

Some of the statements included in this press release may be forward-looking statements that involve a number of risks and uncertainties including, but not limited to expected results in future quarters, the impact of the Coronavirus on the economy and our operations, risks in product and technology development and rapid technological change, product demand, the impact of competitive products and pricing, market acceptance, the sales cycle, changing economic conditions and other risk factors detailed in the Company's Annual Report on Form 20-F and other filings with the United States Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. The information found on our website is not incorporated by reference into this press release and is included for reference purposes only.

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Investor Contact
Ron Freund
Chief Financial Officer
[email protected]
+972-3-939-5023

SOURCE Eltek Ltd.