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Elbit Systems ™ Earnings Release Backlog of orders at $ 13.6 billion ; Revenues of $ 1.36 billion ; Non GAAP net income of $ 103 million ; GAAP net income of $ 92 million ; Non - GAAP net EPS of $ 2.33 ; GAAP net EPS of $ 2.08 Haifa , Israel , November 23 , 2021 – Elbit Systems Ltd. ( the " Company " ) ( NASDAQ and TASE : ESLT ) , the international high technology company , reported today its consolidated results for the quarter ended September 30 , 2021 . ELBIT SYSTEMS REPORTS THIRD 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 : “ We are pleased with our third quarter results that demonstrated the successful execution of our strategy to build a diverse global footprint , which contributed to the 20 % revenue growth , as well as successful implementation of efficiency measures that supported an improved operational performance . The third quarter results and sustained demand from our customers provide us with confidence in Elbit Systems ' long term strategy and future prospects . " Third quarter 2021 results : Revenues in the third quarter of 2021 were $ 1,363.6 million , as compared to $ 1,134.2 million in the third quarter of 2020. A major part of the growth was organic , in addition to the contribution of Sparton , which was acquired in the second quarter of 2021 . Non - GAAP ( * ) gross profit amounted to $ 370.7 million ( 27.2 % of revenues ) in the third quarter of 2021 , as compared to $ 302.3 million ( 26.7 % of revenues ) in the third quarter of 2020. GAAP gross profit in the third quarter of 2021 was $ 363.2 million ( 26.6 % of revenues ) , as compared to $ 237.4 million ( 20.9 % of revenues ) in the third quarter of 2020. The GAAP gross profit in the third quarter of 2020 was affected by non - cash expenses related to impairment of assets and inventory write - offs due to the impact of COVID - 19 , in the amount of approximately $ 60 million . * Research and development expenses , net were $ 101.5 million ( 7.4 % of revenues ) in the third quarter of 2021 , as compared to $ 91.3 million ( 8.0 % of revenues ) in the third quarter of 2020 . see page 4 1