Strong Dollar Hits IAI Net Income

Israel Aerospace Industries (IAI) has confirmed a 79 per cent fall in net income to $2m for its Q1 2015 results, with the Tel Aviv-based MRO citing the strong dollar as a factor.

Israel Aerospace Industries (IAI) has confirmed a 79 per cent fall in net income to $2m for its Q1 2015 results, with the Tel Aviv-based MRO citing the strong dollar as a factor.

IAI’s sales fell by seven per cent to $910m and gross profits were also down by four per cent.

However, the company’s operating income was up to $20m compared with last year’s result of $15m.

IAI said its order backlog totalled $8.7bn compared with $9.1bn at the end of 2014, citing a delay in engagements in “mega projects” for the decrease.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish