elbit systems ltd (ESLT) Key Developments
Investors Seeks To Acquire IMI
May 28 15
Israel said it had received applications from 12 potential buyers to take part in the privatization of Israel Military Industries Ltd. (IMI). The government expects state-owned IMI, developer of the Uzi submachine gun and other arms and ammunition, to fetch between $400 million and $650 million and plans to complete the sale by year end. Applicants include Elbit Systems Ltd. (TASE:ESLT) The Renco Group, Inc. and Coleridge Capital Ltd. The sale of IMI is part of a broader government plan to sell all of part of eight companies and two ports by 2017, raising around $4 billion.
Elbit Systems Ltd. Declares Dividend for the First Quarter of 2015, Payable on June 8, 2015; Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 18 15
The board of directors of Elbit Systems Ltd. declared a dividend of USD 0.35 per share for the first quarter of 2015. The dividend's record date is May 27, 2015. The dividend will be paid from income generated as Preferred Income, on June 8, 2015, net of taxes and levies, at the rate of 20%.
The company reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenues of USD 706,622,000 compared to USD 682,613,000 a year ago. Operating income was USD 59,844,000 compared to USD 59,916,000 a year ago. Income before income taxes was USD 54,238,000 compared to USD 55,287,000 a year ago. Net income attributable to the company’s shareholders was USD 44,565,000 compared to USD 48,153,000 a year ago. Diluted earnings per share were USD 1.04 compared to USD 1.13 a year ago. Non-GAAP operating income was USD 69.5 million against USD 65.0 million a year ago. Non-GAAP net income attributable to the company was USD 52.6 million or USD 1.23 per diluted share compared to USD 51.9 million or USD 1.22 per diluted share a year ago. Net cash provided by operating activities was USD 83,862,000 compared to USD 80,774,000 a year ago. Purchase of property, plant and equipment and other assets was USD 27,332,000 compared to USD 13,916,000 a year ago. The amount of operating income reflects a net gain related to the revaluation of the previously held investment in an Israeli subsidiary's shares at the acquisition date due to its accounting treatment as a business combination achieved in stages.
ELBIT SYSTEMS LTD Wins Contract Worth AUD 1,025,413.19 for Battle Management System - Risk Reduction Activities
Apr 30 15
Defence Materiel Organisation has awarded a contract to ELBIT SYSTEMS LTD for "Battle Management System - Risk Reduction Activities". Contract Period is from March 30, 2015 to November 30, 2015. Contract value is AUD 1,025,413.19.
ELBIT SYSTEMS LTD Wins Contract Worth AUD 951,509.64 for Battle Management System - Risk Reduction Activities
Apr 30 15
Defence Materiel Organisation has awarded a contract to ELBIT SYSTEMS LTD for "Battle Management System - Risk Reduction Activities". Contract Period is from March 30, 2015 to November 30, 2015. Contract value is AUD 951,509.64.
More Than 20 Firms Reportedly Interested In Israel Military Industries
Apr 29 15
Israel's planned sale of Israel Military Industries Ltd. has received interest from more than 20 Israeli and foreign entities, privatization Chief said. The government plans to divest all or part of eight companies and two ports by 2017, raising around $4 billion. Israel Military Industries is expected to fetch between $400 million and $650 million. Ori Yogev, head of Israel's Government Companies Authority, said most of the interest had come from foreign firms and the state would launch a road show in Israel and the United States next few days and the sale will be completed by the end of 2015. Israeli media reported that Elbit Systems Ltd. (TASE:ESLT), Apax Partners LLP and Fortissimo Capital are among the firms interested in Israel Military Industries. Leumi Partners and Stifel Investment Banking are advising on the sale.