Israeli company Rafael released its 2016 earnings on 20 March, with sales and profit rising as 45% of sales were earmarked for outside of Israel.
Sales for 2016 were USD2.2 billion, up from USD2 billion for 2015. Net profits grew as well, from USD118 million in 2015 to USD123 million in 2016.
The company's order backlog reached USD5.7 billion at the end of 2016, up from USD5 billion the year before.
Rafael completed a strategic review in 2016, and as part of an effort to invest more in research and development and look at potential acquisitions, issued USD400 million in bonds.
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