Eltek Expects Q2 Sales Decline

Published: 13 July 2007
 by Staff
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PETACH-TIKVA, ISRAEL – Printed wiring board fabricator Eltek Ltd. expects lower second quarter revenues as a result of decreased sales to its largest customer, which is terminating PCB production for its principal product.

Revenues from the customer decreased to 17% of Eltek's total revenues in the first quarter, as compared with 31% and 25% in 2005 and 2006, respectively.

The impact of the program’s end on total quarterly revenues is expected to be hardest felt in the second and third quarters.

Eltek has received an initial purchase order for the next generation of this product. This order is valued at $240,000 and expected to be delivered in the third quarter.

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