Rafael Advanced Defense Systems Ltd. announced earnings results for the year 2012. The company saw a fall in sales last year to ILS 6.8 billion, from ILS 7.1 billion in 2011. Rafael management said that the decline is sales was mainly a result of accounting policy that the company had introduced and was connected to a large project still at the stage of updating of the contract. Rafael's net profit rose to ILS 569 million in 2012, compared with ILS 397 million in 2011, representing an increase of 43%.

General Dynamics Armament And Technical Products, Inc. and Rafael Advanced Defense Systems Ltd. are offering the Samson line of Remote Weapons Stations (RWS) to the U.S. military. These cost-effective and field-proven remote weapons stations allow a gunner to remain protected inside the vehicle while operating a weapon remotely. The larger variant is lighter than manned turrets and does not require penetration into the vehicle hull, saving significant interior space for personnel and mission equipment. Four Samson variants will be offered, including the combat-proven MKI which is fielded in Afghanistan on Czech Army Pandurs. Samson configurations are also currently in service with the Israeli Defense Forces and other allied armed services. The RWS variants support a variety of weapons including 5.56mm to 0.50 caliber machine guns, 40mm grenade launchers and cannons up to 40mm, and can easily be integrated onto new or existing light to heavy combat vehicles.

Global Energy, Inc. entered into agreements with Covanta Energy Corporation and Rafael Advanced Defense Systems Ltd. for the purpose of developing a mobile unit of the KDV 150 system. All of these agreements described became material on August 20, 2012 upon signature by the Israel-U.S. Binational Industrial Research Foundation of the proposal for a 24 month research and development program submitted by the parties. In February 2012, Global entered into a Teaming Agreement with Covanta and RAFAEL, pursuant to which the parties agreed to submit a proposal to BIRDF for the purpose of obtaining a grant to develop a mobile reactor for biomass fuel which is to be based on the KDV 150 technology for converting waste into diesel fuel. The Teaming Agreement describes the participation of each of the parties in the R&D efforts, where RAFAEL is the lead developer under the BIRDF program. The program will have a projected total cost of $3 million. Global undertakes to participate in the program with a contribution of $300,000 and to be responsible for making payment to BIRDF of any royalties relating to the sales recorded by Covanta with respect to the KDV Mobile Unit. The parties agreed on marketing rights which will be governed by each party's territory rights as defined in the Teaming Agreement. Each party will have the right to manufacture the KDV Mobile Unit for sale in its territory subject to manufacturing rights as granted from time to time.