Defence technology and aviation manufacturer Israel Aerospace Industries (IAI) reported its financial results for the second quarter of 2017 (Q2 2017) on 17 August. In the three months to 30 June the company made sales of USD859 million, a fall of 2.1% year on year. However, net income rose sharply to USD21 million, compared to just USD6 million dollars in the same period in 2016.
Major contract wins in Q2 2017 included a USD630 million deal with Bharat Electronics Limited (BEL) to supply long-range surface-to-air missiles (LR-SAM) to the Indian Navy and a USD1.6 billion sale of medium-range surface-to-air missile (MR-SAM) to the Indian Army.
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