July 30, 2014 5:25 PM ET

Aerospace and Defense

Company Overview of Israel Aerospace Industries Ltd.

Company Overview

Israel Aerospace Industries Ltd. develops and produces military and commercial aerospace and defense systems worldwide. It provides space systems, including communication and observation satellites, launchers, ground stations and systems, and subsystems and components; and unmanned air systems comprising electro-optical payloads, inertial systems, maritime solutions, ground control and airborne systems, and data terminals. The company also offers defense systems; military aircraft and helicopters maintenance and upgrade services, including services for special mission aircraft, aero structures and wiring, training solutions and systems, operational support products and services, airborne sys...

Ben Gurion International Airport

Lod,  70100

Israel

Founded in 1953

Phone:

972 3 935 3111

Key Executives for Israel Aerospace Industries Ltd.

Chief Executive Officer and President
Age: 63
Corporate Vice President of Operations
President of ELTA Systems Ltd and Vice President of IAI Corp
Age: 61
President of Europe Operations
Vice President and General Counsel
Compensation as of Fiscal Year 2014.

Israel Aerospace Industries Ltd. Key Developments

Israel Aerospace Industries Ltd. Announces Earnings Results for the First Quarter of 2014

Israel Aerospace Industries Ltd. announced earnings results for the first quarter of 2014. The company's sales in the first quarter of 2014 amounted to USD 979 million compared to USD 849 million in the first quarter of 2013, a 15% increase. The increase in sales in the first quarter of 2014 mainly arises from the growth in the Company's military divisions - Systems Missiles and Space division, the Military Aircraft division and Elta. The sales of the military divisions in the first quarter totaled USD 735 million compared to USD 615 million in the first quarter of 2013, a 20% increase. Operating income in the first quarter of 2014 amounted to USD 15 million (1.5% of sales) compared with USD 20 million (2.4% of sales) in the first quarter of 2013, a decrease of USD 5 million reflecting a decrease of 25%, arising from the weakening of the U.S. dollar exchange rate in relation to the NIS, the increase in in-house R&D expenses and the increase in selling and marketing expenses. EBITDA in the first quarter of 2014 amounted to USD 44 million compared with EBITDA of USD 51 million in the first quarter of 2013, a decrease of USD 7 million reflecting a decrease of 14%. Financial income, net in the first quarter of 2014 amounted to USD 1 million as opposed to financial expenses, net of USD 5 million in the first quarter of 2013, an increase of approximately USD 6 million resulting mainly from the decrease in financial expenses in respect of the Company's debentures mainly due to fluctuations in the U.S. dollar- NIS exchange rate. The Company's net income in the first quarter of 2014 amounted to USD 9 million (0.9% of sales) compared with USD 19 million (2.2% of sales) in the first quarter of 2013, a decrease of USD 10 million, reflecting a decrease of 53%, arising mostly from increased tax expenses and the increase in R&D expenses compared to the corresponding quarter of 2013.

Israel Aerospace Industries Ltd. and QinetiQ North America, Inc. Present SAHAR, an Autonomous Robotic Route Clearance System

Israel Aerospace Industries Ltd. presents SAHAR - an autonomous robotic route clearance system. SAHAR is a joint development of IAI, QinetiQ North America and Watairpoll. A model of the system will be presented at the Association for Unmanned Vehicle Systems International (AUVSI) exhibition in Orlando, Florida. SAHAR is a fully autonomous robotic system designed for the efficient performance of combat engineering missions. The system handles the process of route clearance including functions such as environmental terrain mapping, surveillance, removal of road blocks and disposal of IEDs. The system is designed to handle a variety of tasks, missions and threats autonomously. Combat engineering missions include route clearance, landmines and explosive device (ED) neutralization in diverse operational arenas. These missions are currently executed using manned and remote-controlled mechanical engineering equipment. The challenges of dealing with these missions using existing methods include: High risk to equipment operators and to the security forces providing protection. Specialized skills are required to operate the mechanical engineering equipment. Extremely high levels of accuracy are required which result in slow implementation of the required tasks. To overcome these challenges, the SAHAR was developed. The system's execution is based on pre-defined path plans. Its major features include a remotely-controlled platform, smart terrain awareness sensors, and an autonomous maneuvering and manipulator module.

Israel Aerospace Industries Ltd. Reports Earnings Results for the Year 2013

Israel Aerospace Industries Ltd. reported earnings results for the year 2013. For the year, the company posted a profit of ILS 271 million.

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