Dubai, Dubai Aerospace Enterprise (DAE) Ltd. recorded net income, excluding non-recurring items, of US$38.8 million (AED142.6 million) for full year 2010, an increase of 708 percent over the Net Income, excluding non-recurring items, of US$4.8 (AED17.6 million) for full year 2009.

Revenue for full year 2010 increased to US$1,612 million (AED5,922 million) from US$1,583 million (AED 5,816 million) for full year 2009. Net Income for full year 2010 was US$10.3 million.

DAE Chairman Sheikh Ahmed bin Saeed al-Maktoum HH said: "I am pleased with the way in which DAE responded to market conditions during the downturn to emerge in 2010 as a profitable company." DAE Managing Director Khalifa H. AlDaboos said: "The investments we have made in our core businesses in the last few years will position the company well to deliver superior performance in the future."

Source: Dubai Aerospace Enterprise