Turkey sanctions cut Elbit Systems Q4 profit

By GLOBES CORRESPONDENT
March 14, 2012 12:54

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Elbit Systems Ltd.  reported lower profits for the fourth quarter of 2011 on Wednesday, due to canceled contracts with Turkey, in line with the company's warning in February.

Despite the lost Turkish contracts, Elbit Systems' orders backlog rose to $5.53 billion at the end of 2011 from $5.45 billion a year earlier. 78% of the orders backlog is for export, and 72% will be delivered in 2012-13.

Full-year revenue rose to $2.82 billion in 2011 from $2.67 billion in 2010. The increase was driven by sales of airborne systems, thanks in part to the acquisition of M7 Aerospace and C4ISR systems, which were partly offset by lower sales of electro-optical systems for reconnaissance night vision.

Related Content

Breaking news
July 17, 2018
Police: Protesters gather at entrance to Iraq's Zubair oilfield

By REUTERS