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Elbit Systems (Nasdaq:  ESLT) today reported record results for the year 2006. revenues passed the $1.5-billion mark financing round the first time, the defense systems maker said.

At the end of 2006, Elbit Systems' backlog of orders was $3.8 billion, it said.

Sales rose 42% against the previous year and net profit doubled to $72 million, compared with $32.5 million in 2004.

Quarterly sales rose 45% against the same period of 2005 to $467.4 million.

Net profit increased by hundreds of percent to $24 million, compared with $5.7 million the year before.

Shares in Elbit Systems have risen 4% this year, slightly underperforming the benchmark TA-25 index which has gained 5% in that time. The company's market capitalization on Nasdaq and the Tel Aviv Stock Exchange is NIS 6.1 billion.

Elbit Systems also said it will be paying shareholders a dividend of 16 cents per share for the last quarter of 2006, on April 16.