PETACH-TIKVA, ISRAEL -- Eltek reported its third-quarter net profit rose 358% to $573,000 on demand for military and medical devices.

The rigid-flex printed circuit board manufacturer reported sales increased 33% to $12 million for the period ended Sept. 30. Gross profit increased 75% to $2.4 million (20% of revenues) from 2010, primarily on higher revenues. Operating profit rose rose was $959,000 compared to operating profit of $57,000 in the third quarter of 2010.

Year to date sales increased 29% to $35.3 million, and the net profit improved from a loss of $1.1 million to a gain of $1.6 million.