Eltek Receives $1.2 Million Order
PETACH-TIKVA, Israel, Nov. 20 /PRNewswire/ -- Eltek Ltd. (Nasdaq: ELTK), the leading Israeli manufacturer of advanced circuitry solutions, today announced that it has received a $1.2 million order for its advanced printed circuit boards (PCB) from one of its major customers. Revenues for the order will be recognized at the time of shipment. The Company noted that it would ship approximately $700,000 worth of product during the fourth quarter, with the remaining $500,000 to be supplied to the customer during the first quarter of 2002. Arieh Reichart, President and CEO of Eltek commented, "We are pleased to have received this large order from one of our most valued customers during these difficult economic times. We appreciate that this customer continues to recognize the superior technology of Eltek's PCB products, as well as the unparalleled level of service that we provide along with the boards." About Eltek Eltek is one of Israel's leading manufacturers of printed circuit boards, the core circuitry of most electronic devices. It specializes in the complex high-end of PCB manufacturing, i.e., HDI, multi-layered and flex-rigid boards. Eltek's technologically advanced circuitry solutions are used in today's increasingly sophisticated and compact electronic products. The Company has invested heavily in upgrading its production facilities over the past five years. Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties including, but not limited to statements regarding expected results in future quarters, 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 United States Securities and Exchange Commission filings. You may register to receive Eltek's future press releases or to download a complete Digital Investor Kit(TM) including press releases, regulatory filings and corporate materials by clicking on the "Digital Investor Kit(TM)" icon at http://www.kcsa.com. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X55653044
SOURCE Eltek Ltd.
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