Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) has reported higher profit and revenue for the fourth quarter of 2014. Elbit Systems CEO Bezhalel Machlis said that the company's results were boosted by strong growth in target regions Latin America and Asia-Pacific.
Diluted net earnings per share were $1.03 for the fourth quarter of 2014, up from $1.01 for the fourth quarter of 2013. Non-GAAP diluted earnings per share in the fourth quarter of 2014 were $1.24, down from $1.26 in the fourth quarter of 2013.
Full year 2014 revenue rose slightly to $2.958 billion from $2.925 billion in 2013. Diluted net earnings per share in 2014 were $4.01, down $4.34 for 2013. The non-GAAP diluted net earnings per share in 2014 were $4.71, down from $4.99 in 2013.
Machlis said. "These results, combined with a somewhat more favorable macro-environment for defense spending, lead us to be optimistic with regard to 2015."
Elbit's backlog of orders climbed to $6.27 billion at the end of 2014 from $5.82 billion a year earlier.
Elbit declared a dividend of $0.35 per share for the fourth quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on March 11, 2015
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