Asia Pacific drove Elbit’s Q215 results
12 August, 2015
CEO of Elbit Systems: "Asia-Pacific and Latin America, together accounted for 39% of our revenues in the quarter"
CEO of Elbit Systems: “Asia-Pacific and Latin America, together accounted for 39% of our revenues in the quarter”
The Revenues of Elbit Systems from Haifa, Israel, in the second quarter of 2015 were $749.6 million, as compared to $702.6 million in the second quarter of 2014. The growth of 6.7% is mainly due to growth in revenues of Land Systems to Asia Pacific.
Gross profit amounted to $219.3 million (29.2% of revenues) and the Operating income was $65.5 million (8.7% of revenues). Research and development expenses were $57.5 million (7.7% of revenues).
The Company’s backlog of orders for the quarter ended June 30, 2015, totaled $6,305 million as compared to $6,174 million as of June 30, 2014.
Approximately 69% of the current backlog is attributable to orders from outside Israel. Approximately 60% of the current backlog is scheduled to be performed during the second half of 2015 and 2016.
Next frontier: Cyber
Elbit Systems is engaged in a wide range of defense, homeland security and commercial programs throughout the world: aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (C4ISR), unmanned aircraft systems, advanced electro-optics, communications systems and cyber-based systems.
Bezhalel Machlis, President and CEO of Elbit Systems, commented: “We see a continuation of solid performance in geographic regions with strong emerging defense requirements, that have been a strategic focus for us in recent years, particularly Asia-Pacific and Latin America, that together accounted for 39% of our revenues in the quarter.
“We continue to focus on adapting ourselves to market trends in order to meet future customer needs. Just after the close of the quarter, we completed the acquisition of the Cyber & Intelligence division of Nice Systems, and our recently established subsidiary Cyberbit is in the process of integrating the acquired operations into our organization. The acquisition is an important part of our strategy to enhance our cyber capabilities, a sector in which we see strong growth potential over the coming years.”