UPDATE: Elbit Systems Posts Lower Q4 Profit

Israeli firm Elbit Systems ESLT reported a drop in its fourth-quarter profit. Elbit's quarterly earnings, excluding one-time items, declined to $1.26 per share, versus $1.62 per in the year-ago period. Its revenue fell to $811.5 million versus $843.9 million. However, analysts were expecting earnings of $1.41 per share on revenue of $840 million. For the fourth quarter, Elbit declared a dividend of $0.30 per share. Elbit shares closed at $61.91 yesterday.