Thursday, May 30, 2024
HomeHightechDefenseIAI Reports Sales of $1 Billion in First Quarter

IAI Reports Sales of $1 Billion in First Quarter

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.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments