PETACH TIKVA, ISRAEL – Eltek saw record full-year revenue of $46.7 million for 2023, representing 18% year-over-year growth.

For the fourth quarter, the company's revenue of $12.3 million marked an 18% increase from the same quarter last year.

"We are thrilled to report a very strong fourth quarter and year, surpassing all financial targets and solidifying our position as a leader in the PCB market," said CEO Eli Yaffe. "This achievement is a testament to the dedication and expertise of our team, the trust of our valued partners and the unwavering support of our shareholders. Looking ahead, we are confident in our ability to navigate the evolving industry landscape and continue delivering exceptional value to all shareholders. The defense, aerospace and medical industries present significant opportunities and Eltek is well-positioned to capitalize on them.

"Our decision at the start of 2022 to allocate $15 million in an investment plan for expanding and enhancing our manufacturing capabilities aligns seamlessly with the existing robust demand for our products. Presently, a material portion of the investment plan has either been implemented or is currently in the installation phase. These investments will facilitate the augmentation of our production capacity, improve our operational efficiency and enhance our technological capabilities."

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