JERUSALEM, March 26 (Reuters) - Israeli defence
electronics firm Elbit Systems reported lower
quarterly profit as an increase in ammunition supplies to
Israel's military pushed revenue higher.
One of Israel's largest defence contractors, Elbit said on
Tuesday it earned $1.56 per diluted share excluding one-time
items in the fourth quarter, down from $1.71 per share a year
earlier.
Elbit's bottom line in the October to December was hit by
$52 million of non-cash expenses related to the write-off of
uncollectible balance of contract assets due to a discontinued
project and for the discontinuing of a subsidiary's activities.