ELTK - Eltek nabs $1.4M purchase order from existing defense customer

Eltek (NASDAQ:ELTK) trades 5.1% higher premarket after it received a letter of intent for a purchase order in the amount of $1.4M from an existing customer in the defense sector. The order will be supplied by Eltek over a period of 14 months starting April 2022. The customer has an option to increase the purchase order to a total amount of $2.1M. The company expects to expand the receipt of medium term delivery orders which stabilizes its income and increase operational production efficiency.

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Eltek nabs $1.4M purchase order from existing defense customer