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Company Watch - Elbit Systems.

New York (AirGuideBusiness - Company Watch) May 24, 2009

Elbit Systems, the international defense company, today reported its consolidated financial results for the first quarter ended March 31, 2009. Consolidated revenues increased by 6.6 percent to USD 656.9 million, as compared to USD 616.1 million in the first quarter of 2008. The Company's revenues in the C4ISR area of operations increased significantly in the first quarter of 2009 compared to the first quarter of 2008, as a result of increased sales of communication equipment and unmanned air vehicle systems to a number of customers. Other than relatively minor fluctuations, the percentage mix of revenues derived from the various geographical regions remained steady, as compared to the first quarter of 2008. Gross profit increased by 22 percent to USD 208.3 million (31.7 percent of revenues) for the first quarter of 2009, as compared with gross profit of USD 170.7 million (27.7 percent of revenues) in the first quarter of 2008. The strong gross profit margin was primarily the result of a mix of projects performed with higher gross profit, and in part due to the strength of the U.S. Dollar versus the Israeli Shekel during the first quarter of 2009, which affected the labor costs incurred in Shekels. May 20, 2009

Elbit Systems Ltd. announced it has been awarded a contract valued at EUR25 million to supply the Austrian Army with Elbit Systems' new 12.7mm unmanned Electrically Remote Controlled Weapon Stations. The systems will be delivered over the course of the next four years. May 18, 2009

General Dynamics Armament and Technical Products and Elbit Systems of America have formed a 50-50 joint venture based at Fort Mill, South Carolina, named UAS Dynamics to develop unmanned airsystems for the US Department of Defense and other US government customers. Systems offered will be based on Elbit's Hermes and Skylark systems. May 22, 2009

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Publication:AirGuide Business
Date:May 25, 2009
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