Elbit Systems, the international defense electronics company, reported its consolidated results for the fourth quarter and full year ended December 31, 2008. Consolidated revenues for the fourth quarter of 2008 increased by 18.1% to $697.9 million, from $591.1 million in the fourth quarter of 2007. Consolidated revenues for the year ended December 31, 2008 increased by 33.1% to $2,638 million, as compared to $1,982 million in 2007.
Operating income for the fourth quarter of 2008 increased 62.7% to $62.2 million (8.9% of revenues), as compared with operating income of $38.2 million (6.5% of revenues) in the fourth quarter of 2007. Operating income for the year ended December 31, 2008 grew 131% to $249 million (9.4% of revenues), from $108 million (5.4% or revenues) in 2007.
Consolidated net income for the fourth quarter was $105.3 million (15.1% of revenues) compared with net income of $31.9 million (5.4% of revenues) in the fourth quarter of 2007. Consolidated net income for 2008 were $204.2 million (7.7% of revenues), compared with $76.7 million (3.9% of revenues) in 2007.
