RADA Announces $10 Million in New Orders since mid-July 2020
NETANYA, Israel, Sept. 14, 2020 /PRNewswire/ -- RADA Electronic Industries Ltd. (NASDAQ: RADA) announced the receipt of
Out of the
RADA reiterates its recently increased guidance for 2020, provided on August 11, 2020, with revenues expected to grow to over
Dov Sella, RADA's CEO, commented, "We are very satisfied with the continuous growth of new orders. We expect that by year-end this sustained growth rate of new orders will establish significant backlog for 2021. While our radars' business is growing at a significant rate, the repeated orders for avionics from our loyal customer base also ensure stability of this business of ours. We reiterate our expectations of sequential quarterly growth and growing operating profit throughout the remainder of 2020 and into 2021."
About RADA
RADA is a global defense technology company focused on proprietary radar solutions and legacy avionics systems. The Company is a leader in mini-tactical radars, serving attractive, high-growth markets, including critical infrastructure protection, border surveillance, active military protection and counter-drone applications.
Company Contact: Avi Israel (CFO) Tel: +972-9-892-1111 mrkt@rada.com |
Investor Relations Contact: GK Investor Relations Ehud Helft Tel: 1 646 201 9246 |
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SOURCE RADA