Israel's Elbit Systems reports record quarterly profit

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JERUSALEM - August 12 - Elbit Systems reported higher profits on Thursday in Israel and boosted by rising revenue revenues.

The maker of drones, pilot helmet displays and cyber security systems reported it would earn $2.11 diluted share excluding one-time items in the second quarter, up from $1.56 a year earlier. Revenue climbed from $1.08 billion to a record $1.3 billion, partly helped by its acquisition of Sparton Corp in April.

The backlog of orders rose to $13.6 billion at the end of June from $11.8 billion at the end of March. Some 51% of the backlog is scheduled to be completed during the remainder of 2021 and in 2022.

Elbit declared a dividend of 46 cents per share for the first quarter, up from 44 in the second quarter.