IAI Report Reflects 2006 as a Turnaround Year

Israel Aerospace Industries (IAI) raised today around US$250 million in merchantable bonds on the Tel Aviv stock exchange. It was the first time IAI is offering merchantable financial instruments on the open market. released today its financial results for the first quarter of 2007, and the entire year of 2006. The company reported a very successful results for 2006 and the first quarter of 2007, recording total sales of US$2.8 billion for 2006, up 20% from 2.34 billion in 2005. The net profit for 2006 soared 250% to $130 million (up from $2 million in 2005). In the first quarter of 2007 the company continued the profitable trend, with pre-tax profit of $60 million, compared to $24 in Q1/06. See more financial news on DEFENSE UPDATE.