PETACH TIKVA, ISRAEL — Eltek reported revenues of $10.3 million in the third quarter, up 27.5% from the $8 million in revenues for the third quarter of 2021.

For the first nine months of the year, the company saw revenues of $29.2 million, compared to $24.3 million in the first nine months of 2021.

"Revenues in the third quarter of 2022 amounted to $10.3 million. This result is in line with the Company's policy to increase production capacity in order to support higher revenues and net income. We estimate that this trend will continue as we will progress in the first phase of our investment program during the years 2023 and 2024. Our backlog continues to be strong as we are benefiting from the growing demand for high-end products, especially in the defense and medical sectors. We believe that this trend of strong demand for high technology products will continue," said Eli Yaffe, CEO of Eltek.

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