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Eltek Reports Third Quarter 2012 Financial Results

Eltek Ltd. (NASDAQ: ELTK), a leading Israeli manufacturer of advanced flex-rigid circuitry solutions, announced today its financial results for the quarter ended September 30, 2012.

Third Quarter 2012:

Revenues for the quarter ended September 30, 2012 were $10.8 million compared with revenues of $12.0 million recorded in the third quarter of 2011.

Gross profit for the third quarter of 2012 was $1.7 million (16.1% of revenues) compared with gross profit of $2.4 million (20.0% of revenues) in the third quarter of 2011.

Operating profit for the third quarter of 2012 was $285,000 compared to operating profit of $959,000 in the third quarter of 2011.

Net profit for the third quarter of 2012 was $135,000 or $0.02 per fully diluted share compared to net profit of $573,000, or $0.09 per fully diluted share, in the third quarter of 2011.

First nine months of 2012:

Revenues for the nine-month period ended September 30, 2012 were $34.3 million compared to revenues of $35.3 million recorded in the first nine months of 2011.

Gross profit for the first nine months of 2012 was $6.0 million (17.4% of revenues) compared to gross profit of $7.0 million (19.7% of revenues) in the first nine months of 2011.

Operating profit for the first nine months of 2012 was $1.5 million compared to operating profit of $2.3 million in the first nine months of 2011.

Net profit for the first nine months of 2012 was $1.0 million, or $0.15 per fully diluted share, compared with net profit of $1.6 million, or $0.24 per fully diluted share, in the first nine months of 2011.

EBITDA:

In the third quarter of 2012, Eltek had EBITDA of $680,000 compared with EBITDA of $1.6 million in the third quarter of 2011. In the first nine months of 2012, Eltek had EBITDA of $2.8 million compared with EBITDA of $3.9 million in the same period in 2011.

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