January 21, 2017 4:22 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 and radar payloads, inertial systems, maritime solutions, ground control and airborne systems, and data terminals. The company also offers theater defense systems; military aircraft and helicopters maintenance and upgrade services, including services for special mission and military aircraft, aero structures and wiring, training solutions and systems, operational support prod...

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: 65
Chief Financial Officer and Executive Vice President of Finance
Age: 46
Executive Vice President of Operations
Executive Vice President of Bedek Aviation Group and General Manager of the Bedek Group
Executive Vice President of Commercial Aircraft Group
Age: 57
Compensation as of Fiscal Year 2016.

Israel Aerospace Industries Ltd. Key Developments

Israel Aerospace Industries Announces the Appointment of Eli Alfassi as Executive VP Marketing

Joseph Weiss, President and CEO of Israel Aerospace Industries (IAI) announced the appointment of Mr. Eli Alfassi as the company's Executive VP Marketing. Mr. Alfassi is currently Executive VP for IAI's operations in India and following his appointment to the position of Executive VP Marketing, the two operations will be merged under his responsibility. Alfassi is a Colonel (res.), who served for the last twelve years in a range of roles at IAI. During the last four years, he was Executive VP for India, a main target country for IAI's products and services. his capacity as Executive VP Marketing, Alfassi will direct all sales activities of the various IAI Groups and Divisions and relations with its many customers around the world.

Israel Aerospace Industries Ltd. Reports Consolidated Earnings Results for the Quarter Ended September 30, 2016

Israel Aerospace Industries Ltd. reported consolidated earnings results for the quarter ended September 30, 2016. The company reported sales of USD 893 million in the quarter compared with USD 828 million in the corresponding quarter of last year (a 7.9% increase) and a net loss of USD 94 million. The loss arises from a provision of USD 162 million for early retirement expenses for about 800 employees in the context of the growth agreement signed with the employee union on August 25, 2016. Gross profit in the quarter totaled USD 135 million compared with USD 86 million in the corresponding quarter of 2015. Operating income less early retirement expenses (adjusted operating income) in the quarter amounted to USD 30 million compared with a loss of USD 5 million in the third quarter of 2015. EBITDA less early retirement expenses (adjusted) totaled USD 58 million compared with USD 22 million in the corresponding quarter of last year. Net income less early retirement expenses in respect of the growth agreement signed by the company (adjusted net income) amounted to USD 28 million. The positive cash flows from operating activities in third quarter 2016 amounted to USD 72 million compared with positive cash flows from operating activities of USD 99 million in third quarter of 2015. The positive cash flows from operating activities mainly derive from changes in the Company's working capital items.

Israel Aerospace Industries Ltd Signs Contract Worth of $15 Million for Cyber-Intelligence System with Customer in Asia

Israel Aerospace Industries Ltd. announced that it has signed a contract worth $15 million for a cyber-intelligence system with a customer in Asia. The contract is for an advanced, national level, strategic cyber solution, which combines cellular systems and cyber and includes establishing an intelligence center and infrastructure and providing unique sensors. The contract will be executed by one of ELTA/IAI's cyber subsidiaries and development centers. Cyber security is a strategic sector and core competency for the company. The company is developing unique cyber solutions for intelligence, protection, monitoring, identification and accessibility. These advanced capabilities are possible due to the innovative technologies developed by the company's research, development and excellence centers, offering the company's customers a wide range of capabilities for dealing with evolving and ever growing cyber threats. the company operates four cyber development centers - one in Singapore, one in Switzerland, and two in Israel - the most recent of which was opened in Beersheva.

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