Eltek Receives Purchase Orders Totaling $3.5 Million
Rhea-AI Summary
Eltek (NASDAQ: ELTK), a global manufacturer of advanced printed circuit boards, has secured $3.5 million in purchase orders from two defense customers. The orders involve high-technology products to be delivered from Q4 2024 through 2026. Eltek's CEO, Eli Yaffe, emphasized that these long-term orders align with the company's strategy for optimal production planning and maximum efficiency. The company anticipates additional long-term orders from these customers in the near future, potentially strengthening its position in the defense sector and boosting its financial outlook.
Positive
- Secured $3.5 million in new purchase orders from defense customers
- Orders span from Q4 2024 through 2026, providing long-term revenue visibility
- Potential for additional long-term orders from the same customers
- Aligns with company strategy for optimal production planning and efficiency
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, ELTK gained 1.42%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
PETACH TIKVA,
"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
Eltek was founded in 1970. The Company's headquarters, R&D, production and marketing center are located in
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
Investor-Contact@nisteceltek.com
+972-3-939-5023
View original content:https://www.prnewswire.com/news-releases/eltek-receives-purchase-orders-totaling-3-5-million-302231642.html
SOURCE Eltek Ltd.
FAQ
What is the total value of the purchase orders received by Eltek (ELTK)?
When will Eltek (ELTK) start delivering products for these new orders?
What is the delivery timeframe for Eltek's (ELTK) new $3.5 million orders?
Does Eltek (ELTK) expect more orders from these defense customers?
