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IAI Posts Higher Fourth Quarter Sales And Profit

Defense Daily Staff Defense Daily Staff
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Israel Aerospace Industries (IAI) yesterday reported higher fourth quarter sales and earnings while backlog and orders rose in 2012. Net income in the quarter was $23 million versus $1 million a year ago while sales increased 8 percent to $892 million from $826 million. Income increased on the higher sales. Free cash was a $74 million outflow in the quarter. Backlog at the end of 2012 stood at $9.7 billion versus $8.7 billion a year ago. IAI said that 85…

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