Eltek Ltd 6-K, filed Feb 18, 2021
Eltek Ltd (ELTK)
6-K
2021-02-18
For: 2021-02-18
View Original
Added on
April 09, 2026
About this 6-K
Eltek Ltd filed this 6-K on February 18, 2021.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2021
Commission file number 000-28884
Eltek Ltd.
(Name of Registrant)
Sgoola Industrial Zone, Petach Tikva, Israel
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
This Form 6-K is being incorporated by reference into the Registrant’s Form S-8 Registration Statements File Nos. 333-130611 and
333-123559.
Eltek Ltd.
EXPLANATORY NOTE
The following exhibit is attached:
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its
behalf by the undersigned, thereunto duly authorized.
| Eltek Ltd. | |||
| (Registrant) | |||
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By:
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/s/Alon Mualem | |
| Alon Mualem | |||
| Chief Financial Officer |
Dated: February 18, 2021
Exhibit 99.1
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Press Release
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Eltek Announces Revenue Update for 2020 and Shortage of Pyralux AP, a Key Raw
Material Used in the Production of Flexible and Flex–Rigid PCBs
PETACH-TIKVA, Israel, February 18, 2021 - Eltek Ltd.
(NASDAQ: ELTK), a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards, today provided an update regarding the Company’s revenues in the year ended December 31, 2020 and the impact the
worldwide shortage of Pyralux AP, a key material produced by DuPont that is used in the production of flexible and flex–rigid printed circuit boards.
Based on a preliminary and unaudited financial report, the Company expects to report revenues of approximately $36.7 million for the
year ended December 31, 2020 compared to revenues of $34.8 million reported for the year ended December 31, 2019, growth of 5.5% in revenues year over year, reflecting the Company’s continued ability to operate successfully during the COVID-19
pandemic. The 2020 financial information is unaudited and subject to audit changes.
As previously announced, during December 2020 we successfully completed a rights offering to our shareholders providing gross
proceeds of $5.7 million to the Company. The proceeds from the offering reduced our indebtedness to Nistec, our controlling shareholder, and improved the Company’s balance sheet and its financial ratios.
The Company also indicated that its operations in the
first quarter of 2021 will likely be negatively impacted as a result of the worldwide shortage of Pyralux AP, a laminate produced by DuPont that is used in the production of flexible and flex–rigid printed circuit boards. The Company is
presently introducing an alternative raw material for its production of PCBs to its customers. While revenues are likely to be impacted in the first quarter, the Company expects that revenues will rebound during following
quarters and lost sales will be recovered upon the expected availability of Pyralux AP and authorization of alternative raw material by Eltek's customers.
About Eltek
Eltek – "Innovation Across the Board", is a global manufacturer and supplier of technologically advanced solutions in the field
of printed circuit boards (PCBs), and is the Israeli leader in this industry. PCBs are the core circuitry of most electronic devices. Eltek specializes in the manufacture and supply of complex and high quality PCBs, HDI, multilayered and
flex-rigid boards for the high-end market. Eltek is ITAR compliant and has AS-9100 and NADCAP Electronics certifications. Its customers include leading companies in the defense, aerospace and medical industries in Israel, the United States,
Europe and Asia.
Eltek was founded in 1970. The Company’s headquarters, R&D, production and marketing center are located in Israel. Eltek
also operates through its subsidiaries in North America and by agents and distributors in Europe, India, South Africa and South America.
For more information, visit Eltek's web site at www.nisteceltek.com
Forward Looking Statement:
Some of the statements included in this press release may be forward-looking statements that involve a number of risks and
uncertainties including, but not limited to expected results in future quarters, the impact of the Coronavirus on the economy and our operations, 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 Annual Report on Form 20-F and other filings with the United States Securities and
Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. The information found on our website is not incorporated by reference into this press release and is included for
reference purposes only.
Investor Contact:
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Alon Mualem
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Chief Financial Officer
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alonm@nisteceltek.com
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+972-3-9395023
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