TEL AVIV May 16 Israeli defence electronics
firm Elbit Systems reported slightly higher quarterly
net profit, boosted by a rise in revenue that was partly offset
by increased research, financial and marketing expenses.
Elbit, Israel's largest publicly traded defence
firm, said on Tuesday it earned $1.21 per diluted share
excluding one-time items in the first quarter, up from $1.20 a
The maker of drones, pilot helmet displays and cyber
security systems said revenue grew to $749.2 million from $721.2
"In today’s geopolitical environment, we are seeing a trend
of larger defence spending in many of our target markets,
especially in the electronic defence sphere," said Chief
Executive Bezhalel Machlis.
Research and development spending rose to $58.4 million from
$56 million. Marketing and financial expenses also rose.
Elbit's order backlog rose to $7.07 billion at the end of
March from $6.78 billion a year earlier.
Elbit declared a dividend of 44 cents per share, unchanged
from the fourth quarter.
(Reporting by Tova Cohen; Editing by Steven Scheer)