Eltek Ltd. (NASDAQ:ELTK) experienced a notable 15% increase in its share price on Monday after announcing that it had received purchase orders totaling $12.2 million from an American defense customer. The company said the orders are for components that will be incorporated into a defense project, with fulfillment scheduled to take place across 2026 and 2027.
The orders represent a material contract for the Israel-based manufacturer of printed circuit boards, and management framed the deal as consistent with Eltek’s goals to broaden its commercial presence in the United States. In a statement accompanying the announcement, Eli Yaffe, chief executive officer of Eltek, said:
"We are particularly pleased with this win, as the customer is a U.S.-based client. This aligns with our strategic objective of expanding our presence in the U.S. market with high value-added products."
Eltek has built its business around technologically advanced printed circuit board solutions, and the firm emphasized that this latest agreement underscores its capability to secure longer-term projects with American defense contractors. The company noted that the delivery schedule extends into 2027, providing the business with a degree of revenue visibility over the next several years.
Investors reacted positively to the contract announcement, sending Eltek shares up by 15% on the trading session following the disclosure. Market participants cited the size of the order and its U.S. customer as supportive of the company’s stated strategic priorities and of its ability to compete for defense-sector work.
While management framed the award as a strategic accomplishment that supports expansion into the U.S. market, the company did not disclose additional financial details beyond the aggregate $12.2 million figure, nor did it identify the customer by name in the public announcement. The orders will be delivered throughout 2026 and 2027, and the company characterized the components as forming part of a defense project.
Sectors affected: Defense manufacturing, electronic components, and U.S. defense procurement.