November 20, 2018 / 7:21 AM / a year ago

Israeli defence contractor Elbit Systems Q3 profit, revenue up

TEL AVIV, Nov 20 (Reuters) - Israeli defence electronics firm Elbit Systems reported on Tuesday higher third-quarter net profit, boosted by higher sales in North America, Asia-Pacific and Europe.

The maker of drones, pilot helmet displays and cyber security systems said it earned $1.50 per diluted share in the July-September period, up from $1.44 a year earlier. Revenue rose to $895.2 million from $800.7 million.

Elbit’s order backlog climbed to $8.1 billion at the end of September from $7.6 billion a year earlier.

“This demonstrates that our business remains strong, in line with our strategy of consistently expanding our addressable markets through internal development of defence related products and solutions, as well as acquisitions of synergistic businesses,” Chief Executive Bezhalel Machlis said.

Elbit declared a dividend of 44 cents per share for the third quarter, unchanged from the second quarter.

Earlier this year the Israeli government approved the sale of state-owned rival IMI Systems to Elbit. (Reporting by Tova Cohen Editing by Steven Scheer)

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