Eltek Receives Sizeable Follow - On Order from a Major Fortune 100 U.S. Manufacturer.* Eltek Receives Largest Single Order from the U.S. * Eltek Expects Delivery of the $770,000 Order during Q2 and Q3 2007 PETACH-TIKVA, Israel Israel, in the Bible Israel (ĭz`rēəl, ĭz`rāəl) [as understood by Hebrews,=he strives with God], according to the book of Genesis, name given to Jacob as eponymous ancestor of the Hebrews, the chosen people of God. -- Please replace the release with the following corrected version due to multiple revisions. The corrected release reads: ELTEK RECEIVES SIZEABLE FOLLOW - ON ORDER FROM A MAJOR FORTUNE 100 U.S. MANUFACTURER * Eltek Receives Largest Single Order from the U.S. * Eltek Expects Delivery of the $770,000 Order during Q2 and Q3 2007 Eltek Ltd. (NasdaqCM:ELTK), the leading Israeli manufacturer of advanced circuitry solutions, today announced that a major U.S. industrial manufacturer has placed a follow-on fol·low-on adj. Following as a related or consequent aspect or development: "Such contracts involve follow-on sales of maintenance services" Christian Science Monitor. order for flex - rigid PCBs that will be used in the production of advanced industrial equipment. This order valued at $770,000 is anticipated to be supplied during the second and third quarters of 2007. This order was received under a supplier managed inventory program agreement. This framework agreement provides for our shipment of the PCBs to a hub close to the customer in the U.S. under frequent scheduling agreements. Sales are recognized when the PCBs are shipped to the customer, which are expected to be completed in the third quarter. "We are very pleased to receive this sizeable follow-on order from this prestigious U.S. customer, the largest order that we have received since we entered into a framework agreement with the customer towards the end of 2006," said Arieh Arieh (ārī`ə), in the Bible, one of the two guards murdered with King Pekahiah. Reichart, President and Chief Executive Officer of Eltek. "This new order signifies an important quantitative achievement in our penetration into the U.S. flex - rigid PCB PCB: see polychlorinated biphenyl. PCB in full polychlorinated biphenyl Any of a class of highly stable organic compounds prepared by the reaction of chlorine with biphenyl, a two-ring compound. market and we expect to report record sales in the U.S. in 2007," continued Reichart. "As we are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that we will receive follow-on orders from this customer, we believe that this engagement will become an important incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. growth and margin expansion driver for Eltek." About the Company Eltek is Israel's leading manufacturers of printed circuit boards, the core circuitry of most electronic devices. It specializes in the complex high-end of PCB manufacturing, i.e., HDI HDI Human Development Index (UNDP yardstick of human welfare) HDI Help Desk Institute HDI Humpty Dumpty Institute (New York, New York) HDI High Density Interconnect , multi-layered and flex-rigid boards. Eltek's technologically advanced circuitry solutions are used in today's increasingly sophisticated and compact electronic products. The Company has invested heavily in upgrading its production facilities over the past five years. For more information, visit Eltek's World Wide Web site at www.eltekglobal.com. Certain matters discussed in this news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties including, but not limited to statements regarding expected results in future quarters, risks in product and technology development and rapid technological change, product demand, the impact of competitive products and pricing, market acceptance, the sales cycle, changing economic conditions and other risk factors detailed in the Company's filings with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission. |
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