TEL AVIV [MENL] -- Israel's largest defense contractor reports a drop in
sales and earnings during 2003.The state-owned Israel Aircraft Industries said sales reached $904
million in the first half of 2003. This represented an 11 percent decrease
from sales during the same period last year.Net earnings dropped by 63 percent during the first half of 2003. The
company said net profits totaled $9 million, compared with $26 million in
the same period last year.The company reported an orders backlog of $4.5 billion at the end of
June 2003.
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