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Elbit Systems ™ Earnings Release Backlog of orders at $ 11.8 billion ; Revenues of $ 1.1 billion ; Non - GAAP net income of $ 76 million ; GAAP net income of $ 73 million ; Non - GAAP net EPS of $ 1.72 ; GAAP net EPS of $ 1.64 Haifa , Israel , May 25 , 2021 Elbit Systems Ltd. ( the " Company " ) ( NASDAQ and TASE : ESLT ) , the international high technology company , reported today its consolidated results for the quarter ended March 31 , 2021 . ELBIT SYSTEMS REPORTS FIRST QUARTER 2021 RESULTS In this release , the Company is providing US - GAAP results as well as additional non - GAAP financial data , which are intended to provide investors a more comprehensive view of the Company's business results and trends . For a description of the Company's non - GAAP definitions see page 4 below , " Non - GAAP financial data " . Unless otherwise stated , all financial data presented is US - GAAP financial data . Management Comment : Bezhalel ( Butzi ) Machlis , President and CEO of Elbit Systems , commented : “ Our financial results for 2021 have started well , with revenues up 4.4 % over those of the first quarter last year . Sustained demand for our products and solutions from customers around the world led to a 9 % increase in our order backlog , reaching a record $ 11.8 billion . This backlog and a healthy pipeline of opportunities provide us with good visibility and confidence in the Company's prospects " . First quarter 2021 results : Revenues in the first quarter of 2021 were $ 1,118.3 million , as compared to $ 1,071.2 million in the first quarter of 2020 . * Non - GAAP ( * ) gross profit amounted to $ 286.2 million ( 25.6 % of revenues ) in the first quarter of 2021 , as compared to $ 295.4 million ( 27.6 % of revenues ) in the first quarter of 2020. GAAP gross profit in the first quarter of 2021 was $ 281.3 million ( 25.2 % of revenues ) , as compared to $ 289.4 million ( 27.0 % of revenues ) in the first quarter of 2020 . Research and development expenses , net were $ 84.3 million ( 7.5 % of revenues ) in the first quarter of 2021 , as compared to $ 80.4 million ( 7.5 % of revenues ) in the first quarter of 2020 . Marketing and selling expenses , net were $ 51.5 million ( 4.6 % of revenues ) in the first quarter of 2021 , as compared to $ 70.5 million ( 6.6 % of revenues ) in the first quarter of 2020 . see page 4 1