JERUSALEM Aug 6 Israeli defence electronics
firm Elbit Systems reported higher quarterly profit
that beat estimates due to cost-cutting measures and said its
rising order backlog should boost revenues ahead.
The company earned $1.23 per diluted share excluding
one-time items in the second quarter, up from $1.19 a year
earlier. Revenue was largely flat at $702.6 million.
Elbit, Israel's largest publicly traded defence
firm, was forecast to earn $1.22 a share ex-items on revenue of
$718.7 million, according to Thomson Reuters I/B/E/S.
Its backlog of orders rose to $6.2 billion from $5.8
Chief Executive Bezhalel Machlis said the continued backlog
growth is a "good indicator of potential revenue growth in the
Elbit said it would pay a dividend of 32 cents a share for
the second quarter, the same as the first quarter.
(Reporting by Steven Scheer, Editing by Ari Rabinovitch)