RADA Announces $4 Million in Radar Orders
August 06 2018 - 09:10AM
RADA Electronic Industries Ltd. (NASDAQ: RADA)
announced the receipt of $4 million in radar orders in the second
quarter.
The orders were for RADA’s software-defined
radars which will be used in today’s most advanced defense
applications. These include active protection systems (APS) for
armored vehicles, counter rocket artillery and mortar (C-RAM),
counter UAV and short range air defense (SHORAD). A third of these
orders were follow-on-sales from existing customers and the
remainder was from new and highly strategic customers. These new
customers are leading defense organizations and represent initial
sales from which RADA expects further follow-on orders in the
future.
Dov Sella, RADA’s CEO,
commented, "Our leading radar technologies are gaining
increased traction and these recent orders are the initial fruits
of our newly established presence in the United States along with
our global business development efforts. We expect the sales of our
radars to accelerate in the coming quarters as the market becomes
increasingly aware of the benefits of our products in providing
solutions for emerging needs.”
About RADA
RADA Electronic Industries Ltd. is an
Israel-based defense electronics contractor. The Company
specializes in the development, production, and sales of Tactical
Land Radars for Force and Border Protection, and Avionics Systems
(including Inertial Navigation Systems) for fighter aircraft and
UAVs.
Company Contact:Gil
Schwartz (VP, BD & Marketing)Tel: +972-9-892-1111
mrkt@rada.com www.rada.com |
Investor Relations
Contact:GK Investor RelationsEhud Helft/Gavriel FrohweinTel: 1 646
688 3559rada@gkir.com |
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