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Eltek ASA (OSL:ELT) 2Q 2008 Financial Results NERATEL, Singapore

Eltek ASA (OSL:ELT) Nera Telecommunications LTD, Singapore, 50.1% owned by Eltek ASA, today publish their financial result for the second quarter 2008.

NeraTel achieved revenue in the second quarter of SGD 33.2 million, compared to SGD 41.5 million in the corresponding quarter last year. EBIT for the quarter was SGD 4.0 million compared to SGD 4.1 million in the second quarter 2007. Net profit was SGD 3.1 million compared to SGD 3.3 million in the second quarter 2007.

For the first six months revenue was SGD 72.3 million, compared to SGD 77.9 million in 2007. EBIT was SGD 7.4 million compared to SGD 7.1 million in 2007.

Please note that due to different accounting principles Eltek will report different figures for NeraTel in its Group results, the main difference being amortization of intangible assets identified as part of the Purchase Price Allocation (PPA).

For further information, please contact: CFO Eltek ASA, Pål Skistad, tel: +47 32 20 32 34

The announcement from Nera Telecommunications is attached at http://www.newsweb.no

LINK: http://hugin.info/86881/R/1243524/267840.pdf

Eltek ASA

http://www.eltek.com

ISIN: NO0003109407

Stock Identifier: XOSL.ELT

US: Other OTC: EEKAF.PK

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