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Elbit Systems Reports Fourth Quarter and Full Year Results for 2005.

Article Excerpt
Record Revenues, Order Backlog and Operating Cash Flow

55% Increase in Backlog of Orders to $3.35 Billion

13.8% Increase in Annual Consolidated Revenues to $1.07 Billion

HAIFA, Israel, March 15 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (the "Company") , the international defense electronics company, today reported its consolidated results for the fourth quarter and year-ended December 31, 2005.

The Company's backlog of orders as of December 31, 2005 reached $3.35 billion, as compared to $2.15 billion at the end of 2004. 72% of the backlog relates to orders outside of Israel. Approximately 65% of the Company's backlog as of December 31, 2005 is scheduled to be performed during 2006 and 2007.

Consolidated revenues for the year ended December 31, 2005 increased by 13.8% to $1,070 million, as compared to $940 million in 2004.

Consolidated revenues for the fourth quarter of 2004 increased by 18.8% to $321.8 million, as compared to $270.8 million in the corresponding quarter of 2004.

Impact on 2005 results. As previously reported, the Company's 2005 financial results were expected to be effected by the acquisition of 40% of the shares of Tadiran Communications Ltd. ("Tadiran"), which were purchased in several stages in the fourth quarter of 2004 and during 2005, and by the purchase of 70% of the shares of Elisra Electronic Systems Ltd. ("Elisra") in the fourth quarter of 2005. As a result of the above purchases the Company...