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SEC Filings
6-K
ELBIT SYSTEMS LTD filed this Form 6-K on 11/14/2017
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 Earning Release
 
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ELBIT SYSTEMS LTD.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands of US Dollars, except for share and per share amount)
   
Nine Months Ended
September 30,
 
Three Months Ended 
 September 30,
 
Year Ended
December 31,
 
2017
 
2016
 
2017
 
2016
 
2016
 
Unaudited
 
Unaudited
 
Audited
Revenues
$
2,368,221

 
$
2,306,497

 
$
800,734

 
$
780,776

 
$
3,260,219

Cost of revenues
1,653,762

 
1,627,748

 
549,753

 
550,403

 
2,300,636

Gross profit
714,459

 
678,749

 
250,981

 
230,373

 
959,583

 
 
 
 
 
 
 
 
 
 
Operating expenses:
 
 
 
 
 
 
 
 
 
Research and development, net
192,598

 
188,814

 
67,092

 
65,578

 
255,792

Marketing and selling, net
199,003

 
182,252

 
66,934

 
60,926

 
271,037

General and administrative, net
107,160

 
113,754

 
34,791

 
36,138

 
151,353

Other operating income, net

 
(17,575
)
 

 
(10,543
)
 
(17,575
)
Total operating expenses
498,761

 
467,245

 
168,817

 
152,099

 
660,607

Operating income
215,698

 
211,504

 
82,164

 
78,274

 
298,976

 
 
 
 
 
 
 
 
 
 
Financial expenses, net
(24,810
)
 
(14,495
)
 
(9,333
)
 
(7,303
)
 
(23,742
)
Other income, net
37

 
3,942

 
5

 
32

 
3,967

Income before income taxes
190,925

 
200,951

 
72,836

 
71,003

 
279,201

 
 
 
 
 
 
 
 
 
 
Taxes on income
(30,151
)
 
(35,812
)
 
(14,579
)
 
(8,856
)
 
(45,617
)
 
160,774

 
165,139

 
58,257

 
62,147

 
233,584

 
 
 
 
 
 
 
 
 
 
Equity in net earnings of affiliated companies and partnerships
9,918

 
5,855

 
3,500

 
1,426

 
5,224

Net income
$
170,692

 
$
170,994

 
$
61,757

 
$
63,573

 
$
238,808

Less: net income attributable to non-controlling interests
(996
)
 
(1,197
)
 
(280
)
 
(195
)
 
(1,899
)
Net income attributable to Elbit Systems Ltd.'s shareholders
$
169,696

 
$
169,797

 
$
61,477

 
$
63,378

 
$
236,909

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share attributable to Elbit Systems Ltd.'s shareholders:
 
 
 
 
Basic net earnings per share
$
3.97

 
$
3.97

 
$
1.44

 
$
1.48

 
$
5.54

Diluted net earnings per share
$
3.97

 
$
3.97

 
$
1.44

 
$
1.48

 
$
5.54

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average number of shares (in thousands)
 
 
 
 
 
 
 
 
Shares used in computation of basic earnings per share
42,749

 
42,741

 
42,751

 
42,745

 
42,742

Shares used in computation of diluted earnings per share
42,753

 
42,751

 
42,753

 
42,753

 
42,752


9


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