RADA Announces $7 Million in New Orders During June 2019
July 03 2019 - 10:49AM
RADA Electronic Industries Ltd. (NASDAQ: RADA)
announced the receipt of $7 million in new orders in the past
month. Most of these new orders are expected to be delivered in
2019.
Out of these new orders, five million are for
RADA’s software-defined AESA radars for counter UAV and vehicle
protection solutions. These new orders are a mixture of follow-on
orders from existing defense customers, which are beginning to
expand their deployments of their systems that incorporate RADA’s
radars, along with initial orders from new customers who are
expected to place repeated orders in the near future.
Two million are follow-on orders for RADA’s
legacy avionics, including digital video recorders, core avionics
units, and ongoing maintenance services for RADA’s wide installment
base of core avionics for military airborne platforms, both manned
and unmanned.
Dov Sella, RADA’s CEO,
commented, "The solid momentum of new orders along the
first half of 2019, especially for our tactical radars for the
maneuver force, is ensuring the 2019 revenues forecast of over $40
million which implies growth of over 40% year-over-year, and gives
us confidence that growth will continue in 2020 and onwards.”
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 |
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