Elbit Systems Reports the Impact of the Acquisition of Tadiran Communications Shares on its Second Quarter 2007 Financial Result
July 12 2007 - 6:20AM
PR Newswire (US)
HAIFA, Israel, July 12 /PRNewswire-FirstCall/ -- Elbit Systems Ltd.
(NASDAQ:ESLT) announced today that, following the successful
completion of its Cash Tender Offer for the balance of the ordinary
shares of Tadiran Communications Ltd. on April 26, 2007, it expects
to record in the second quarter of 2007 acquisition expenses
related to In Process Research & Development write off and
Restructuring expenses, estimated at 25 - 30 million dollars. The
Company is in the process of finalizing its purchase price
allocation and the related expenses, charges and the on-going
amortization of the amounts allocated to tangible and intangible
assets acquired in accordance. The overall impact on the financial
results for the second quarter will be included in its report,
which is planned to be released in August 2007. Elbit Systems Ltd.
is an international defense electronics company engaged in a wide
range of defense-related programs throughout the world. The Elbit
Systems Group, which includes the company and its subsidiaries,
operates in the areas of aerospace, land and naval systems,
command, control, communications, computes, intelligence
surveillance and reconnaissance ("C4ISR"), advanced electro-optics
and space technologies, EW suites, airborne warning systems, ELINT
systems, data links and military communications systems and radios.
The Group also focuses on the upgrading of existing military
platforms and developing new technologies for defense and homeland
security applications. STATEMENTS IN THIS PRESS RELEASE WHICH ARE
NOT HISTORICAL DATA ARE FORWARD-LOOKING STATEMENTS WHICH INVOLVE
KNOWN AND UNKNOWN RISKS, UNCERTAINTIES OR OTHER FACTORS NOT UNDER
THE COMPANY'S CONTROL, WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE
OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE
RESULTS, PERFORMANCE OR OTHER EXPECTATIONS IMPLIED BY THESE
FORWARD-LOOKING STATEMENTS. THESE FACTORS INCLUDE, BUT ARE NOT
LIMITED TO, THOSE DETAILED IN THE COMPANY'S PERIODIC FILINGS WITH
THE SECURITIES AND EXCHANGE COMMISSION. Contacts: Company Contact:
Joseph Gaspar, Corporate VP & CFO Dalia Rosen, Director of
Corporate Communications Elbit Systems Ltd. Tel: +972-4-8316663
Fax: +972-4-8316944 E-mail: IR Contact: Ehud Helft/Kenny Green G.K.
Investor Relations Tel: +1-646-201-9246 Fax: +972-3-607-4711
E-mail: DATASOURCE: Elbit Systems Ltd CONTACT: Contacts: Company
Contact: Joseph Gaspar, Corporate VP & CFO, Dalia Rosen,
Director of Corporate Communications, Elbit Systems Ltd., Tel:
+972-4-8316663, Fax: +972-4-8316944, E-mail: , ; IR Contact: Ehud
Helft/Kenny Green, G.K. Investor Relations, Tel: +1-646-201-9246,
Fax: +972-3-607-4711, E-mail:
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