PETACH TIKVA, ISRAEL - PCB manufacturer Eltek Ltd. has reported a loss for its fourth quarter on the weakening dollar and reduced revenues.

The company reported the net loss for the quarter of $472 thousand compared to a net profit of $63 thousand in the same quarter of 2006. The company attributed the loss mainly to continued devaluation of the U.S. dollar against the NIS.

Fourth quarter revenues were down 2.5% from $10.14 million last year to $9.89 million for 2008, Eltek reported. The company attributed the year-over-year decrease in quarterly revenues to reduced sales to a former principal customer.

Quarterly operating loss for the period was $457 thousand, compared to an operating profit of $302 thousand for the same quarter last year, the company noted.

For the full year 2007, the company posted a net loss of $301 million compared to a net profit of $1.65 million in the year 2006. Annual revenues fell to $37.47 million from $39.04 million reported in the previous year.

Eltek said its entry into the U.S. high-end printed circuit board market gained momentum in 2007, nearly doubling its U.S. revenues to $4.3 million and winning 13 new customers.

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