IAI releases financial figures for 2nd quarter 2011

Israel Aerospace Industries reported that sales for the 2nd quarter of 2011 grew by 12% and totaled $938 million, compared to $839 million for the equivalent period last year. Export sales totaled $ 767 million, a growth of 16% compared to the 2nd quarter of 2010. Sales to the military market for the 2nd quarter of 2011 totaled approximately $673 million. Sales to the civilian market totaled approximately $265 million, an increase of 36% compared to the equivalent period in 2010. Profit from ordinary activities before costs associated with retirement of employees for 2nd quarter 2011 totaled $35 million, compared to $32 million in the equivalent period in 2010, an increase of 8%. Net profit for 2nd quarter 2011 totaled $ 33 million (4% of sales), compared to $38 (5% of sales) million for the equivalent period in 2010.