RADA Announces $9 million in New Orders in July 2019
August 05 2019 - 5:32AM
RADA Electronic Industries Ltd. (NASDAQ: RADA)
announced that it has received $9 million in new orders in July
2019.
$8 million of the orders are for RADA’s radar
systems, while $1 million are avionics orders. Applications for the
radar systems are for C-UAV (counter UAV), VSHORAD (very
short-range air defense) and C-RAM (counter rocket artillery and
mortar) solutions.
The vast majority of the orders are follow-on
orders from customers that were acquired by RADA in the past two
years.
Dov Sella, RADA’s CEO,
commented, "We are seeing strong and increased momentum of
orders for our active defense systems. Furthermore, our counter-UAV
application in particular, has seen very strong interest following
recent counter-drone incidents, including the one in the Persian
Gulf. We are very pleased with these follow-on orders, mainly
because many of them come from some of our newer customers. This
demonstrates their satisfaction with the initial products and
orders they made with us, and we look forward to growing our sales
to them.”
Added Mr. Sella, “Following the
strong recent momentum of new orders and the good revenue
performance so far this year, we feel comfortable in increasing our
full year 2019 revenue guidance from above $40 million to above $43
million.”
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:Avi Israel, CFOTel: +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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