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Defense organization Elbit Units (TASE: ESLT Nasdaq: ESLT) unveiled its fourth quarter and complete 12 months 2021 financials this early morning.

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Fourth quarter earnings totaled $1.5 billion, 8.8% additional than in the fourth quarter of 2020. Non-GAAP operating income for the quarter was $120.1 million (8.% of earnings), which compares with an working financial gain of $113.8 million (8.3% of income) in the corresponding quarter of 2020. On a GAAP foundation, running earnings for the fourth quarter was $107.3 million (7.2% of profits), which compares with $104.6 million (7.6% of earnings) in the corresponding quarter.

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On a non-GAAP basis, the corporation posted a quarterly net gain of $94.9 million (6.4% of income), which compares with $105. million (7.6% of earnings) in the corresponding quarter. On a GAAP foundation, internet revenue was $8.2 million (.5% of earnings), which compares with $67.8 million (4.9% of earnings) in the corresponding quarter.

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For 2021 as a total, Elbit Devices experienced revenue of $5.28 billion, symbolizing a rise of 13.2% in comparison with revenue in 2020. Operating revenue for the year on a non-GAAP foundation was $450.8 million (8.5% (8.5% of revenue), which compares with $390.1 million (8.4% of revenue) in 2020. On a GAAP basis, working revenue very last year was $418.5 million (7.9% of earnings), which compares with $325.7 million (7.% of income) in 2020. The 2020 determine features a $60 million expense for write downs of belongings and stocks simply because of the coronavirus pandemic.

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Web financial gain for 2021 on a non-GAAP foundation was $367.6 million (7.% of revenue), which compares with $318.5 million (6.8% of income) in 2020. On a GAAP basis, web earnings very last yr was $274.4 million (5.2% of revenue), which compares with $237.7 million (5.1% of earnings) in 2020.

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At the end of 2021, Elbit Systems has an orders backlog of $13.7 billion, up from $11 billion at the conclude of 2020. 72% of the backlog represents orders from prospects outside the house Israel. 60% of the backlog is thanks to be filled in 2022 and 2023.

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Elbit Techniques president and CEO Bezhalel Machlis explained, “2021 was a sound yr for Elbit Systems, and the monetary final results show the sustained need for our products and programs from customers all over the globe. Revenues greater by 13% year in excess of year to $5.3 billion, and a report backlog of $13.7 billion offers us with great visibility. “Elbit Systems’ 2021 benefits are an end result of the considerable investments we have designed in the latest yrs to produce primary technological capabilities and develop our positions in key world defense marketplaces to maintain via cycle advancement. “I believe that Elbit Units is well positioned to reward from the growth in the defense sector about the environment.”

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On the Tel Aviv Stock Exchange this morning, Elbit Systems’ share rate is down by just in excess of 1%. Above the earlier yr, the firm’s share value has risen by approximately 65%.

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Printed by Globes, Israel company information – en.globes.co.il – on March 29, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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