Elbit Systems 2006 revenue up 42% to record $1.5b
Net profit rose 122% to $72.2 million.
Globes’ correspondent 14 Mar 07 10:55
Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) today published its consolidated financial reports for the fourth quarter of 2006 and the year as a whole. 2006 revenue rose 42% over 2005 to $1.52 billion, and its net profit rose 122% to $72.2 million ($1.72 per share).
The company’s orders backlog at the end of 2006 was $3.79 billion, up 13.1% from the end of 2005. 68% of the orders are for international customers, and 70% are slated for delivery in 2007-08.
Elbit Systems posted $467.4 million revenue for the fourth quarter, up 45.3% on the corresponding quarter of 2005. The company posted a net profit of $24 million ($0.57 per share), compared with a net loss of $5.7 million ($0.14 per share) for the corresponding quarter.
The company beat the analysts’ consensus of earnings per share of $0.50 on $388.1 million revenue for the fourth quarter
The company will distribute a dividend of $0.16 per share on its fourth quarter profit.
Elbit Systems president and CEO Joseph Ackerman said, “We have also begun to see the results of our long-term development strategy that enabled us to pass $1.5 billion in revenues for the first time and to deliver another year of record net profit and cash flow. Our results were achieved despite the negative impact from Elisra's financial performance, and we intend to continue the Elisra turn-around in 2007.”
Published by Globes [online], Israel business news - www.globes.co.il - on March 14, 2007
