IAI posts second quarter net income of US$21m

Israel Aerospace Industries, Israel’s largest national military and civilian security defense company, has issued its consolidated financial statements for the quarter ended June 30, 2017. In the second quarter 2017, the Company reported a record growth in order backlog to US$11.1bn. The Company reported sales totaling US$859m in the second quarter of the year, as well as net income of US$21m and operating income of US$16m. The Company’s cash balances amounted to approximately US$1.7bn, with positive cash flows from operating activities of US$208m.