Elbit Systems wins $15 mln Israel air force contract
Elbit wins $15 million defense contract to upgrade the IAF's Hercules aircarft
The contract will be carried out over two years, Elbit said in a statement.
Elbit will supply the air force with additional C-130H capabilities as a follow-on to a previous contract signed in 2012. The new capabilities will allow the aircraft to meet the international communications navigation and surveillance/air traffic management standard and operate in commercial airspace.
Israeli defense electronics firm Elbit Systems reported higher quarterly profit that beat estimates due to sales growth in airborne systems and unmanned aerial vehicles (UAVs) as well as cost cutting measures.
Elbit earned $1.32 per diluted share excluding one-time items in the third quarter, up from $1.18 a share a year earlier, the company said on Thursday.
Revenue grew to $730.6 million from $677.5 million. The company said sales were boosted by gains in its airborne and command, control, communications, computers, intelligence surveillance and reconnaissance (C4ISR) systems, which include UAVs - or drones - for defense and homeland security.
Elbit, Israel's largest publicly traded defense company, was forecast to earn $1.12 a share on revenue of $700.3 million, according to Thomson Reuters I/B/E/S.
