IAI Reports Sales of $1 Billion in First Quarter

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The Israel Aerospace Industries reported it had earned $15 million during the first quarter of 2019. This is $1million more than IAI earned during first quarter of 2018. Sales of the company rose by 13.5% to $1 billion. The growth in sales was a result of increasing sales from Elta, its electronics division, and from successes in its missile and satellite division. However, the gross profits of the company were $122 million, a drop of 15% from the first quarter of 2018. The decline was attributed to a decrease in activities of its commercial aircraft division, which primarily converts passenger planes to cargo planes. This drop was temporary and caused mainly by the US government shut down.

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