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Author: TMFJMo Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1388  
Subject: Elbit 2Q2011 Earnings Date: 8/23/2011 10:20 PM
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Meant to post this a few days ago but got bogged down in the SA issue:

http://finance.yahoo.com/news/Elbit-Systems-2Q-earnings-apf-...

Nothing terribly extraordinary one way or another really. Revenue was up about 15% but earnings fell based on currency hedging and higher debt expenses. Such are the ways of companies that deal in other currencies. Backlog is up a bit and on the call management mentioned that this is the sixth consecutive quarter with an increase in backlog and "Approximately 62% of the backlog is scheduled to be performed during the rest of this year and 2012."

Management is optimistic about the coming year and mentioned the geographical diversity as a main strength. Particular areas include Asia-Pacific and Latin America as two fast growers. So while there may be some regions bringing in spending cuts, it's not a global movement and they also see additional opportunities with potential acquisitions even here in the U.S. And as defense continues the move toward more sophisticated products, Elbit stands a chance to shine as a leader in the field.

They actually beat estimates on the revenue side of things, so that is worth noting I think. This is one that will be in this portfolio indefinitely, so while it has obviously dipped from when I bought, I still think that's a bit overdone and I believe the stock will see plenty of brighter days ahead.

Foolish best,

Jason
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