Eltek provides revenue update for 2020 and shortage of Pyralux AP

Based on a preliminary and unaudited financial report, the Eltek expects to report revenues of approximately USD 36.7 million for 2020 compared to revenues of USD 34.8 million reported for 2019, growth of 5.5% in revenues year over year. At the same time, Eltek 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, Eltek 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.