RADA - RADA STOCK NEWS

RADA Electronic Industries Ltd. (NASDAQ: RADA) is a defense technology company based in Israel, specializing in software-defined tactical radars and avionics systems. Recently, the company released an investor brief related to Leonardo DRS. RADA is recognized for its mini-tactical radars catering to high-growth markets such as critical infrastructure, military protection, and counter-drone applications. The press release includes forward-looking statements, highlighting potential risks like defense budget changes, economic fluctuations, and product demand uncertainties.

RADA Electronic Industries announced an expected revenue of approximately $22.5 million for Q2 2022, consistent with Q1 performance. The company is withdrawing its full year 2022 revenue guidance due to the pending merger with Leonardo DRS, set to finalize in Q4. CEO Dov Sella noted a slower recovery from a U.S. Continuing Resolution pause affecting order flow. The merger aims to create a leading defense electronics entity, enhancing RADA's long-term growth potential amidst evolving military needs driven by recent global events.

Leonardo DRS and RADA Electronic Industries Ltd. are merging, enhancing Leonardo DRS’s capabilities in air defense and force protection. This all-stock merger values RADA shareholders at approximately 19.5% of the combined company. Expected to close in Q4 2022, the merger is projected to generate significant growth opportunities, especially in defense sectors aligned with U.S. Department of Defense budgets. The deal will give Leonardo DRS a strong foothold in international markets, particularly in short-range air defense and vehicle protection systems.

RADA Electronic Industries and Leonardo DRS have announced an all-stock merger, enhancing their positions in the defense technology sector. The merger combines RADA's advanced tactical radars with Leonardo DRS's capabilities, expected to drive strong growth in air defense and force protection markets. RADA shareholders will own approximately 19.5% of the new entity, which will maintain the name Leonardo DRS, listed under the symbol 'DRS'. The move is projected to be accretive to RADA's earnings in the first year and will create significant growth opportunities in U.S. and global defense markets.

RADA Electronic Industries reported Q1 2022 revenues of $22.5 million, down 11% from $25.2 million in Q1 2021. The net loss was $0.7 million compared to a net income of $3.8 million a year earlier. Gross profit decreased by 26%, totaling $7.3 million. Adjusted EBITDA was $1.3 million, down from $4.8 million in Q1 2021. Despite challenges due to a 5-month US budget delay, RADA reaffirms its 2022 revenue guidance of over $140 million, citing strong market demand driven by recent geopolitical events. The company ended the quarter with a net cash position of $65.9 million.

RADA Electronic Industries Ltd. will announce its Q1 2022 financial results on May 10, 2022. The investor conference call is set for 9:00 am ET the same day, hosted by CEO Dov Sella and CFO Avi Israel. Participants can call in using designated numbers or access a live webcast via the company's website. A replay will be available 48 hours post-call. RADA specializes in defense technology, focusing on radar solutions and avionics systems, primarily serving defense markets including military protection and infrastructure security.

RADA Electronic Industries Ltd. (NASDAQ: RADA) announced over $29 million in new business for Q1 2022, marking a year-over-year growth of over 22%. Over 95% of new bookings are for software-defined tactical radars aimed at Active Protection Systems and short-range air defense. The U.S. market contributed 80% of these orders. CEO Dov Sella noted that delays due to the U.S. Continuing Resolution impacted 2021 bookings but expressed optimism for 2022 revenue target exceeding $140 million, citing the ongoing global demand for radar solutions amid geopolitical tensions.

On March 24, 2022, RADA Electronic Industries Ltd. (Nasdaq: RADA) announced the filing of its annual report with the U.S. Securities and Exchange Commission, featuring audited financial statements for the year ending December 31, 2021. The comprehensive report is accessible on RADA's website, with hard copies available upon request for shareholders. RADA specializes in advanced radar solutions and avionics systems, positioning itself as a leader in mini-tactical radars, serving pivotal markets including infrastructure protection and military applications.

RADA Electronic Industries reported record revenues of $117.2 million for 2021, a 54% increase year-over-year. The gross margin improved to 41% from 37% in 2020, with net income reaching $25.1 million compared to $5.6 million in 2020. Q4 revenues were $31.8 million, up 36% year-over-year, with net income of $4.9 million. The company forecasts organic growth to $250 million in the next 3-4 years and aims for strategic mergers and acquisitions for additional growth.