TEL AVIV, May 28 (Reuters) - Israeli defence electronics firm Elbit Systems reported on Tuesday higher first-quarter net profit, boosted by its acquisition of IMI Systems.
The maker of drones, pilot helmet displays and cyber security systems said it earned $1.54 per diluted share excluding one-time items in the January-March period, up from $1.29 a year earlier. Revenue rose to $1.02 billion from $818.5 million.
In November Elbit bought rival IMI Systems from the government for $500 million.
“The significant increase in our backlog and the progress in the integration of IMI into the company support our long-term growth potential,” Chief Executive Bezhalel Machlis said.
Elbit’s order backlog climbed to $9.66 billion at the end of March from $8.05 billion a year earlier.
Elbit declared a dividend of 44 cents per share for the first quarter, the same as the fourth quarter. (Reporting by Steven Scheer and Tova Cohen)