Israel Aerospace Industries, Israel’s national defense and Aerospace company, has issued its consolidated financial statements for the quarter ended June 30, 2018.
In the second quarter of 2018, the Company reported sales totaling US$895 million, representing an increase of 4.2% in sales compared to the corresponding quarter of last year, as well as net income of US$10 million and operating income of US$30 million. The Company has cash balances in an aggregate of US$1.6 billion and positive cash flows from operating activities totaling US$104 million.
Yossi Weiss, the outgoing CEO of IAI: “IAI concludes the second quarter of 2018 with the largest order backlog in its history, currently reaching almost USD 13 billion, also reflected in an increase in sales in the quarter, which is expected to continue into the next quarters. Concurrently, the growth trend in the various markets in which IAI operates is pursued, with emphasis on North America, Europe and Southeast Asia, and we continue offering our customers the most advanced tailored solutions for the constantly changing map of threats.
