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Elbit Systems Q3 revenues $722.7 million

Staff writer ▼ | November 14, 2014
Elbit Systems reported its consolidated results for the quarter ended September 30, 2014. Revenues in the third quarter were $722.7 million, as compared to $730.6 million in Q3 2013.
Elbit Systems
Slightly down   Fall from $730.6 million
Gross profit amounted to $203 million (28.1% of revenues) in the third quarter of 2014, as compared to $207.4 million (28.4% of revenues) in the third quarter of 2013.

The non-GAAP gross profit in the third quarter of 2014 was $208.4 million (28.8% of revenues), as compared to $212.9 million (29.1% of revenues) in the third quarter of 2013. The decrease in the gross profit rate was mainly due to the mix of programs sold in the quarter.

Research and development expenses, net, were $55.8 million (7.7% of revenues) in the third quarter of 2014, as compared to $54.0 million (7.4% of revenues) in the third quarter of 2013.

Marketing and selling expenses were $51.8 million (7.2% of revenues) in the third quarter of 2014, as compared to $61.9 million (8.5% of revenues) in the third quarter of 2013. The decrease was mainly a result of lower expenses related to the mix of marketing activities in the quarter.

General and administrative expenses were $35.3 million (4.9% of revenues) in the third quarter of 2014, as compared to $30.5 million (4.2% of revenues) in the third quarter of 2013.

Operating income was $60.1 million (8.3% of revenues) in the third quarter of 2014, as compared to operating income of $61.1 million (8.4% of revenues) in the third quarter of 2013.

The non-GAAP operating income in the third quarter of 2014 was $70.8 million (9.8% of revenues), as compared to $72.3 million (9.9% of revenues) in the third quarter of 2013.

Financial expenses, net, were $23.4 million in the third quarter of 2014, as compared to $6.6 million in the third quarter of 2013.


 

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