Elbit earned $ 64 million in the first quarter of 2020 - a 26% increase

Elbit Systems, which is managed by Bezalel Macliss, earned $ 64 million in the first quarter of 2020 - a 26% increase over the same quarter in 2019. Elbit Systems' revenue grew 4.8% in the past quarter, compared to the same quarter in 2019 - topping $ 1.07 billion. Elbit Systems' revenue in the field of airborne systems grew 5.2%, to $ 388 million last quarter, and revenue from electro-optic systems grew 53% in the first quarter of 2020 compared to the same quarter in 2019 - to $ 119 million.
Growth in these two areas covered 1.1% erosion in control and computing control revenue in the past quarter, compared to the corresponding in 2019, to $ 241 million; And a 1.8% drop in landline revenue in the first quarter of 2020 compared to the same quarter in 2019 to $ 298 million.
The geographical distribution of Elbit Systems' sales reveals that the only region where there was significant sales growth was North America, where revenues grew by 33% to $ 366 million in the first quarter of 2020 and in light of the fact that the company's North American revenue was 34% of its total revenue in the past quarter. , The company appears to have increased exposure to a decline in US defense budgets if the current or subsequent administration decides to reduce defense budgets in favor of social budgets or reduce the deficit budget deficit.
The strong growth in Elbit Systems' revenue in the US was partially offset by a 6% drop in revenue in Israel in the past quarter compared to its equivalent in 2019 and a 6% decline in revenue in Europe to $ 185 million in the first quarter of 2020.
Elbit Systems 'backlog totaled $ 10.8 billion at the end of March 2020, an increase of $ 1.1 billion compared to the end of March 2019 and an increase of $ 761 million compared to the end of 2019. Elbit Systems' gross profit grew 4.2% in the first quarter of 2020 compared to the quarter Corresponding to it in 2019 and totaled $ 289 million which is 27% of turnover compared to 27.2% of turnover in 2019.
Elbit Systems' operating profit increased 5.7% in the first quarter of 2020 compared to the same quarter in 2019, reaching $ 80 million, which is 7.5% of turnover compared to 7.4% of parallel turnover in 2019.
Elbit Systems is expected to record $ 40 million in pre-tax capital gain following a $ 70 million investment made by the Charlesbank Investment Fund in its CyberBit subsidiary, which includes the acquisition of $ 48 million of Elbit Systems shares and the change from a controlling shareholder to a minority shareholder.