RADA Announces over $5 Million in Orders in the past 2 Months
June 07 2019 - 10:32AM
RADA Electronic Industries Ltd. (NASDAQ: RADA)
announced the receipt of over $5 million in new orders in the past
two months, which are expected to be delivered during 2019.
Out of these new orders, the majority were for
RADA’s software-defined AESA radars for international counter UAV
solutions. A large portion of these orders were follow-on orders
from existing defense customers which are beginning to expand their
deployments of their systems that incorporate RADA’s radars.
A third of the orders were follow-on orders for
RADA’s legacy avionics, including digital video recorders and
ongoing maintenance orders for RADA’s wide installment base of core
avionics for military airborne platforms.
Dov Sella, RADA’s CEO,
commented, "Our customer base continues to broaden and is
generating a solid momentum of orders as we progress through 2019,
both in our growth-engine radars as well as our legacy avionics
business. These new orders make me increasingly comfortable with
our forecast of over $40 million in revenues for 2019, implying
growth of over 40% year-over-year.”
About RADA
RADA Electronic Industries Ltd., an Israel-based
defense electronics 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.comwww.rada.com |
Investor Relations Contact:GK
Investor RelationsEhud Helft/Gavriel FrohweinTel: 1 646 688
3559rada@gkir.com |
Rada Electronics Industr... (NASDAQ:RADA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Rada Electronics Industr... (NASDAQ:RADA)
Historical Stock Chart
From Sep 2023 to Sep 2024