Eltek Ltd. (ELTK)

[midastouch017]

>>On Thursday, a small company whose share I bought early this year, Eltek Ltd. (Nasdaq: ELTK), will publish its financial report. I predict that fourth quarter sales and profits will be higher than third quarter sales. I also predict that the company will enjoy further growth in 2006. Eltek is a niche market estimated at $400 million a year - flexible/rigid printed circuit boards. One of Eltek’s customers is Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN).

This time a year ago, Eltek published a strong financial report, which caused its share to skyrocket to an all-time high on huge trading volumes by US day traders who discovered the company. Joseph (Yossi) Maiman and a group of Eltek officers sold a lot of shares at the time, which cooled the speculators’ ardor. In my opinion, if there is another jump in share this time, Maiman will not want to reduce his 26% stake in the company. Meanwhile, company managers recently received new options at the current price. Eltek might see additional strong growth from the US defense market, which it successfully penetrated late last year. >>

Published by Globes [online], Israel business news - www.globes.co.il - on March 14, 2006

http://www.globes.co.il/serveen//globes/docView.asp?did=1000071109&fid=1176

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