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RADA Electronic Industries Ltd. (Nasdaq: RADA) announced its participation in two virtual investor conferences. Management will engage in a fireside discussion at the Jeffries Virtual Industrials Conference on August 3 at 8 am ET, followed by one-on-one meetings with investors. Additionally, RADA will present at the Canaccord Genuity Growth Conference on August 12 at 12:30 pm ET. Investors interested in participating can contact their bank or RADA's investor relations team.
RADA Electronic Industries Ltd. announced it will release its financial results for Q2 2021 on August 2, 2021, followed by a conference call at 9:00 am ET. CEO Dov Sella and CFO Avi Israel will present the results and answer questions. Participants can join via the provided U.S., Israeli, or international phone numbers. A live webcast will be available on RADA's website, with a replay option starting 48 hours post-call. RADA specializes in radar solutions and avionics systems, catering to high-growth sectors including critical infrastructure protection and counter-drone applications.
RADA Electronic Industries announced $32 million in new orders for Q2 2021, contributing to a total of $56 million for the first half of the year, reflecting a 37% year-over-year growth. Most orders (91%) were for software-defined tactical radars, with 64% from the U.S. market. CEO Dov Sella expressed confidence in upcoming growth, reiterating a revenue guidance of over $120 million for 2021, expecting stronger performance in the latter half of the year.
RADA Electronic Industries Ltd. (NASDAQ: RADA) announced a Letter of Intent with BeyondMinds to develop AI solutions for RADA’s tactical radars. This collaboration aims to enhance radar capabilities like accuracy and target classification through advanced AI and deep learning technologies.
RADA recognizes AI as a core capability and expects that BeyondMinds' expertise will solidify its market leadership. A definitive agreement is anticipated by the end of July 2021, enhancing RADA’s competitive edge in the growing defense technology market.
RADA Electronic Industries announces its radar systems' critical role during ongoing conflicts in Israel. The company received recognition from the Israel Defense Forces for its Sense & Warn network, which is operational in the Gaza Strip, effectively detecting & alerting against C-RAM threats. RADA assures stakeholders that its operations remain uninterrupted, despite recent hostilities. The company has adequate inventory to prevent shipment delays impacting future deliveries. CEO Dov Sella emphasized the product's value in safeguarding lives and assets.
RADA Electronic Industries Ltd. reported strong financial results for Q1 2021, achieving revenues of $25.2 million, a 67% increase year-over-year.
Net income surged to $3.8 million from $0.2 million last year, with an adjusted EBITDA of $4.8 million (19% margin).
Gross margin also improved to 40%. The company holds a net cash position of $96.2 million and reaffirmed its 2021 revenue guidance of over $120 million, indicating sustained growth momentum.
RADA Electronic Industries Ltd. announced its upcoming financial results for Q1 2021, scheduled for release on May 11, 2021. A conference call will follow at 9:00 am ET featuring CEO Dov Sella and CFO Avi Israel. Investors can join the call via specified phone lines or through a live webcast on RADA's website. The company's focus lies in advanced radar solutions for defense applications, such as border surveillance and counter-drone technologies, positioning it as a leader in mini-tactical radar.
RADA Electronic Industries Ltd. reported $24 million in new orders for Q1 2021, marking a 50% year-over-year growth compared to Q1 2020. Approximately 90% of these orders pertained to software-defined tactical radars for counter UAVs, SHORAD, and C-RAM, with a significant portion arising from non-US markets. CEO Dov Sella expressed confidence in maintaining a revenue guidance of over $120 million for 2021, supported by stable legacy avionics revenues of about $10 million annually.
RADA Electronic Industries Ltd. reported a strong start to 2021, securing over $15 million in new orders in January and February, a significant rise from $6 million during the same period in 2020. The company's secondary offering raised over $59 million, attracting substantial institutional interest. This financial boost, alongside a 150% increase in new orders, reinforces forecasts for exceeding $120 million in revenue for the year. RADA continues to lead in proprietary radar solutions for defense applications.
RADA Electronic Industries Ltd. (RADA) has successfully closed its public offering of 5,175,000 ordinary shares at a price of $11.50 per share, generating approximately $59.5 million in gross proceeds. This offering, which included the full exercise of an underwriters’ option for an additional 675,000 shares, will fund general corporate purposes. The offering was executed under an SEC effective shelf registration statement.
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