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Elbit 1Q profit up on acquisitions, sales growth



By AP
20 May 2008 @ 07:45 am EST

NEW YORK - Israeli defense contractor Elbit Systems Ltd. said Tuesday its first-quarter profit and sales grew, fueled by acquisitions and a diverse geographic reach, with 80 percent of sales coming from outside Israel.

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For the three months ended March 31, the company earned $32.2 million, or 75 cents per share, up 68 percent from $19.1 million, or 45 cents per share, in the same period a year earlier.

Revenue rose 53 percent to $616.1 million from $403.6 million. The year-ago results don't include sales from Tadiran Communications Ltd., which were consolidated beginning last May.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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