Elbit Systems Awarded $70 Million Contract to Provide EW Solution to an International Customer

Rhea-AI Summary

Elbit Systems Ltd. (NASDAQ:ESLT) has secured a contract worth approximately $70 million to deliver an Electronic Warfare (EW) solution to an international client. The contract spans two and a half years and includes ground-based EW and Signal Intelligence (SIGINT) units. These systems are designed to enhance situational awareness by providing comprehensive electronic operational capabilities. The increasing demand for such solutions underscores the critical importance of securing electromagnetic dominance in modern military operations.

Positive

• Awarded a significant contract worth approximately $70 million.
• Contract duration of two and a half years supports stable revenue flow.
• Strengthens Elbit Systems' position in the growing Electronic Warfare market.

Negative

• None.

HAIFA, Israel, June 27, 2022 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ:ESLT) and (TASE: ESLT) ("Elbit Systems") announced today that it was awarded an approximately $70 million contract to supply an Electronic Warfare (EW) solution to an international customer. The contract will be executed over a period of two and a half years.

Under the contract, Elbit Systems will provide ground-based EW and Signal Intelligence (SIGINT) units equipped with Electronic Support Measures, Electronic Counter Measures as well as Command and Control systems. These units will generate a comprehensive passive air and ground picture and provide an electronic order of battle, enabling effective response to both aerial and land based threats.

Oren Sabag, General Manager of Elbit Systems ISTAR & EW, said: "We witness a growing demand for our EW and SIGINT solutions as militaries across the globe increasingly recognize the critical importance of dominating the electromagnetic spectrum."

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: https://elbitsystems.com, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels.

Company Contacts:

Joseph Gaspar, Senior EVP – Business Management 
Tel:  +972-77-2948661
j.gaspar@elbitsystems.com

Dr. Yaacov (Kobi) Kagan, EVP & Chief Financial Officer
Tel:  +972-77-2946663
kobi.kagan@elbitsystems.com

Rami Myerson, Director, Investor Relations
Tel: +972-77-2948984
rami.myerson@elbitsystems.com

David Vaaknin, VP, Brand & Corporate Communications
Tel: +972-77-2946691
david.vaaknin@elbitsystems.com

IR Contact:

Ehud Helft
Kenny Green
GK Investor Relations 
Tel: 1-212-378-8040
elbitsystems@gkir.com

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business.  Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

 

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SOURCE Elbit Systems Ltd.

FAQ

What is the value of the contract awarded to Elbit Systems (ESLT)?

Elbit Systems was awarded a contract valued at approximately $70 million.

How long will the contract for the EW solution last?

The contract will be executed over a period of two and a half years.

What type of systems will Elbit Systems provide under the contract?

Elbit Systems will supply ground-based Electronic Warfare (EW) and Signal Intelligence (SIGINT) units.

Who is the customer of Elbit Systems for this contract?

The contract is awarded to Elbit Systems by an international customer.

What is the significance of the systems provided by Elbit Systems?

The systems will enhance electronic operational capabilities and situational awareness to respond to various threats.