Elbit Q1 Net Profit Increases

(RTTNews) - Elbit Systems Ltd. (ESLT), a maker of defense electronic systems, Tuesday reported a rise in net earnings for the first quarter.

For the three months to March, net earnings advanced to $48.15 million or $1.13 per share, from $41.41 million or $0.98 per share a year ago.

Excluding certain items, earnings were $51.9 million or $1.22 per share, compared with $51.1 million or $1.22 per share a year earlier.

On average, 2 analysts polled by Thomson-Reuters estimated the company's earnings to be $1.07 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the 3-month period rose slightly to $682.61 million from $680.18 million in the same quarter last year.

The board recommended a dividend of $0.32 per share, payable on June 9 to shareholders of record on May 27.