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February 07, 2016 5:43 AM 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: 64
Chief Financial Officer and Executive Vice President of Finance
Age: 45
Executive Vice President of Operations
President of Europe Operations
Executive Vice President of ELTA Systems Ltd. Group
Age: 62
Compensation as of Fiscal Year 2015.

Israel Aerospace Industries Ltd. Key Developments

Israel Aerospace Industries Ltd. Announces Consolidated Earnings Results for the Third Quarter Ended September 30, 2015

Israel Aerospace Industries Ltd. announced consolidated interim financial statements for the third quarter ended September 30, 2015. The company's sales in the third quarter 2015 amounted to USD 828 million compared with USD 934 million in the corresponding quarter of 2014, a decrease of 11%. The decrease in sales in the third quarter of 2015 compared with the corresponding quarter of last year is mainly a result of the decrease in the revenues of the ELTA Systems Ltd., the Systems Missiles & Space Group and the Commercial Aircraft Group in the area of business jets. Gross profit in the third quarter 2015 amounted to USD 86 million (10.4% of sales) compared with USD 163 million (17.5% of sales) in the corresponding quarter of 2014, a decrease of about 47% arising mainly from the decrease in the scope of sales and from recording a non-recurring expense of approximately USD 27 million for adjustment of the provision for a loss in a significant project. Operating loss in the third quarter 2015 amounted to USD 5 million compared with an operating income of USD 63 million in the corresponding quarter of 2014. EBITDA in the third quarter 2015 amounted to USD 21 million compared with USD 87 million in the third quarter 2014, a decrease of some 76%. The company's net loss in the third quarter 2015 amounted to USD 31 million compared with a net income of USD 4 million in the corresponding quarter of 2014. The Company's positive cash flows from operating activities in the third quarter 2015 amounted to USD 99 million compared with negative cash flows from operating activities of USD 253 million in the corresponding quarter of 2014. The positive cash flows from operating activities mainly arise from changes in items regarding the Company's working capital.

Israel Aerospace Industries Ltd. Signs Collaboration Deal with Retia

A new air defense cooperation agreement has been signed by Israel Aerospace Industries Ltd. (IAI) and Retia. Under the agreement IAI and Retia will jointly develop technologies. The agreement also includes the possibility of joint production of radar for the Iron Dome missile interception system.

Israel Aerospace Industries Ltd. to Unveil Drone Guard, a New System for Drone Detection, Identification and Flight Disruption at Seoul International Aerospace and Defense Exhibition

Israel Aerospace Industries Ltd. is unveiling the Drone Guard a new system for drone detection, identification and flight disruption at Seoul International Aerospace and Defense Exhibition (ADEX). IAI notes that the use of small drones has increased dramatically over the years, making them a potential threat to critical infrastructures, other aircraft and homeland security (HLS), due to their small size, low speed and low flight altitude. These drones may be used for a number of reasons, including hostile purposes such as intelligence gathering, smuggling, or as armed platforms. Drones are also difficult to detect or disrupt due to their low visibility and low Radar Cross Section (RCS). To meet this emerging challenge, IAI's Subsidiary and Group, ELTA Systems Ltd., offers especially 3D radars and Electro-Optical (EO) sensors for detection and identification, as well as dedicated Electronic Attack (EA) jamming systems for disrupting drone flights. To detect low signature, low-level and low-speed airborne targets, ELTA has adapted to this specific mission its 3D radars, which include the ELM-2026D, ELM-2026B and ELM-2026BF for short (10km), medium (15km) and long (20 km) ranges, respectively, with special drone detection and tracking algorithms, as well as adapting them with EO sensors for visual identification of the target. In order to disrupt the hostile UAV, ELTA has developed advanced adaptive jamming systems which can be used in concert with its detection and identification sensors, or as a continuously operated stand-alone system. The jamming disrupts the drone's flight and can either cause it to return to its point-of-origin (Return Home' function) or to shut down and make a crash landing.

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