TEL AVIV May 13 Israeli defence electronics
firm Elbit Systems reported flat quarterly profit that
beat analysts' estimates, as the company won contracts in
Asia-Pacific and Latin America, the company said on Tuesday.
The company earned $1.22 per diluted share excluding
one-time items in the first quarter, unchanged from a year
earlier. Revenue rose to $682.6 million from $680.2 million.
Elbit, Israel's largest publicly traded defence
company, was forecast to earn $1.07 a share on revenue of $697.2
million, according to Thomson Reuters I/B/E/S.
Its backlog of orders rose to $6.06 billion at the end of
March from $5.78 billion a year earlier.
Chief Executive Bezhalel Machlis noted the company's backlog
surpassed $6 billion for the first time.
"The growth in backlog, including recent contract awards in
the Asia-Pacific and Latin America regions, is an indication of
stability and has the potential to support revenue growth over
the coming years," he said.
Elbit declared a dividend of 32 cents per share for the
first quarter, up from 30 cents for the fourth quarter.
(Reporting by Tova Cohen)