HAIFA, Israel , November 25 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (the "Company") (NASDAQ: ESLT, TASE: ESLT), the international defense company, today reported its consolidated results for the third quarter ended September 30, 2008 .
Consolidated revenues for the third quarter of 2008 increased by 29.3% to
Gross profit for the third quarter of 2008 increased by 41.5% to
Consolidated net income for the third quarter of 2008 increased by 35% to
Operating cash flow during the first nine months of 2008 was
Diluted earnings per share for the third quarter of 2008 were
The Company's backlog of orders as of September 30, 2008 totaled
During the third quarter, two events occurred that in the aggregate had
minimal total net effect on net profit. There was one-time income of
The President and CEO of Elbit Systems, Joseph Ackerman , commented, "I am
pleased to report another quarter of solid progress at Elbit Systems, with
growth across all areas of operation and in all geographies. In addition, in
the first three quarters of 2008, we have already surpassed the whole of last
year's net income, achieving just shy of
Mr. Ackerman continued: "We are taking every measure to keep a cap on and rationalize expenses. This is to ensure we are prepared for all eventualities and that we are able to maintain our profitability, momentum and technological leadership, in the coming months ahead."
The Board of Directors declared a dividend of
The Company will also be hosting a conference call today, Tuesday, November 25 , at 8:30am ET . On the call, management will review and discuss the results and will be available to answer questions.
To participate, please call one of the teleconferencing numbers that follow. Please begin placing your calls at least 10 minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.
at: 8:30am Eastern Time ; 5:30am Pacific Time ; 1:30pm UK time and 3:30pm Israel time
This call will be broadcast live on Elbit Systems' web-site at http://www.elbitsystems.com. An online replay will be available from 24 hours after the call ends.
Alternatively, for two days following the end of the call, investors will be able to dial a replay number to listen to the call. The dial-in numbers are: