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TODAY'S HEADLINES
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August 20, 2008
[Satellite Today 08-20-08] Israel Aerospace Industries’ (IAI) second quarter income was $19 million, an increase of 36 percent compared to a profit of $14 million for the second quarter of 2007, the company announced Aug. 19. The 2008 second quarter earnings were reduced by a $12 million provision for employee-related expenses and recording of accounting losses.
Sales increased 13 percent to $891 million, compared with $790 million from 2007. IAI's backlog also increased, growing 8 percent to $7.8 billion.
"I am particularly pleased that our operations in the civil market, which represent 40 percent of the company's total operations, increased by 15 percent,” Yair Shamir, IAI chairman, said in a statement.
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