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March 23, 2005 Stock Pick: Eltek Ltd. (ELTK)

Stock Price: $3.75

Eltek Ltd. is an Israeli manufacturer of advanced circuitry solutions. They specialize in the complex high-end of PCB manufacturing, i.e., HDI, multi-layered and flex-rigid boards.

This company has turned itself around over the past year culminating in a great fourth quarter released after the bell on Monday. They have successfully switched their focus to higher margin flex-rigid boards, manufactured by their new production processes and technology. Now the company is enjoying the fruits of the lucrative flex-rigid board market.

Revenue for the fourth quarter was $8.1 million with a profit of $446,000. This stunned the market and ELTK practically doubled from its Monday close. Investors are indicating a bright future for Eltek.

Keep this in mind, ELTK had a market cap of only $10 million before earnings were released. Now, they have a market cap of $20 million when they just had an $8 million in revenue, profitable quarter.

There 5.49 million shares outstanding and 2.80 million in the float.

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