Eltek Reports Second 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 June 30, 2012.

Second Quarter 2012:

Revenues for the second quarter of 2012 were $11.5 million, the same as in the second quarter of 2011.

Gross profit for the second quarter of 2012 was $1.9 million (17% of revenues) compared to $2.1 million (18% of revenues) in the second quarter of 2011.

Operating profit for the second quarter of 2012 was $465,000 compared to operating profit of $426,000 in the second quarter of 2011.

Net profit for the second quarter of 2012 was $351,000 or $0.05 per fully diluted share, compared to net profit of $257,000, or $0.04 per fully diluted share, in the second quarter of 2011.

First six months of 2012:

Revenues for the first six months of 2012 were $23.5 million compared to revenues of $23.4 million recorded in the first six months of 2011.

Gross profit for the first six months of 2012 was $4.2 million (18% of revenues) compared to gross profit of $4.6 million (20% of revenues) in the first six months of 2011.

Operating profit for the first six months of 2012 was $1.2 million compared to operating profit of $1.3 million in the first six months of 2011.

Net profit for the first six months of 2012 was $877,000 or $0.13 per fully diluted share, compared to net profit of $1.0 million, or $0.16 per fully diluted share, in the first six months of 2011.

EBITDA:

In the quarter ended June 30, 2012, Eltek had EBITDA of $928,000 compared with EBITDA of $966,000 in the second quarter of 2011. In the first six months of 2012, Eltek had EBITDA of $2.1 million compared with EBITDA of $2.3 million in the same period in 2011.

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