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Eltek Reports Third Quarter And Nine Months Financial Results
 
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Eltek Reports Third Quarter And Nine Months Financial Results  
 
   
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Wednesday, November 27, 2013 Eltek Ltd. (NASDAQ: ELTK), the leading Israeli manufacturer of advanced circuitry solutions, including complex build ups of rigid and flex-rigid printed circuit boards, announced today its financial results for the quarter ended September 30, 2013.






Third Quarter 2013:

Revenues for the quarter ended September 30, 2013 were $12.8 million compared with revenues of $10.8 million recorded in the third quarter of 2012.

Gross profit for the third quarter of 2013 was $2.3 million (18.3% of revenues) compared with gross profit of $1.7 million (16.1% of revenues) in the third quarter of 2012.

Operating profit for the third quarter of 2013 was $735,000 compared to operating profit of $285,000 in the third quarter of 2012.

Net profit for the third quarter of 2013 was $585,000 or $0.09 per fully diluted share, compared to net profit of $135,000 or $0.02 per fully diluted share, in the third quarter of 2012. The earnings per share calculation does not include the effect of our sale of 3,532,655 shares to Nistec Ltd. in November 2013.

First nine months of 2013:

Revenues for the nine-month period ended September 30, 2013 were $37.6 million compared to revenues of $34.3 million recorded in the first nine months of 2012.

Gross profit for the first nine months of 2013 was $6.2 million (16.6% of revenues) compared to gross profit of $6.0 million (17.4% of revenues) in the first nine months of 2012.

Operating profit for the first nine months of 2013 was $1.5 million similar to the operating profit of $1.5 million in the first nine months of 2012.

Net profit for the first nine months of 2013 was $1.1 million, or $0.16 per fully diluted share, compared with net profit of $1.0 million, or $0.15 per fully diluted share, in the first nine months of 2012. The earnings per share calculation does not include the effect of our sale of 3,532,655 shares to Nistec Ltd. in November 2013.



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