RADA Electronic Industries Ltd. (NASDAQ: RADA) announced record new orders totaling $102 million for 2020, marking a 70% increase from $60 million in 2019. Recent orders include $23 million for software-defined tactical radars, primarily for the IM-SHORAD Stryker program in collaboration with Leonardo DRS and the Elbit/IMI Iron Fist system. These contracts mark the start of a backlog that will drive growth into 2021. CEO Dov Sella emphasized the emerging market's potential and RADA's strong position within it.
RADA Electronic Industries Ltd. reported significant growth for Q3 2020, with revenues soaring 81% year-over-year to $20.4 million. The gross margin improved to 38%, and net income reached $2.1 million, compared to a loss in Q3 2019. Adjusted EBITDA also rose to $3.1 million, marking 15% of revenues. With a revenue guidance increase to over $75 million, RADA is optimistic about maintaining momentum into 2021 amidst rising order backlogs. Over nine months, revenues increased by 77% to $52.9 million, with substantial improvements across key financial metrics.
RADA Electronic Industries (NASDAQ: RADA) reported $20 million in new orders since mid-September 2020, contributing to an impressive $79 million total for the year—up 92% from $41 million in 2019. These orders for software-defined tactical radars cater to various segments, including counter-drone and short-range air defense. RADA's CEO, Dov Sella, expressed optimism about ongoing growth, anticipating continued operational profits into 2021. The company emphasizes its transition from urgent needs to a growing market phase, signaling strong future demand.
RADA Electronic Industries Ltd. (Nasdaq: RADA) has announced it will release its third quarter 2020 financial results on November 10, 2020. A conference call, hosted by CEO Dov Sella and CFO Avi Israel, will take place at 10:00 am ET. Participants can access the call via various numbers provided for the US, Israel, and international callers. For those unable to attend the live call, a replay will be available on RADA's website approximately 48 hours later. RADA specializes in radar solutions and avionics systems for defense applications.
RADA Electronic Industries Ltd. (NASDAQ: RADA) reported receiving $10 million in new orders since mid-July 2020, bringing total new orders to $59 million for the year, a 68% increase from $35 million in the same period of 2019. Notably, 70% of the recent orders are for RADA's tactical radars, primarily for counter UAV and counter fires. The company expects to achieve over $70 million in revenues for 2020, marking a 58% year-over-year growth. The CEO expressed confidence in sustained growth and increased backlog for 2021.
RADA Electronic Industries Ltd. (Nasdaq: RADA) will participate in two virtual investor conferences in September 2020. The company will present at the LD Micro 500 conference from September 1-4, with CEO Dov Sella speaking on September 2 at 10am ET. Additionally, RADA will present at the H.C. Wainwright 22nd Annual Global Investment Conference from September 14-16, with a presentation on September 16 at 3:30pm ET. The CEO and CFO Avi Israel will also conduct one-on-one virtual meetings with investors during these events. Interested parties can contact conference organizers for registration.
RADA Electronic Industries Ltd. reported a significant 75% year-over-year revenue growth in Q2 2020, totaling $17.5 million. The company achieved a net income of $0.7 million and Adjusted EBITDA of $1.7 million, marking a turnaround from losses in Q2 2019. For the first half of 2020, revenues reached $32.6 million, reflecting a 74% increase. RADA raised its 2020 revenue guidance to over $70 million, driven by strong demand for its radar solutions amid military modernization efforts. The company maintains $30 million in net cash to support future growth.
RADA Electronic Industries Ltd. (Nasdaq: RADA) will participate in two virtual investor conferences in August 2020. CEO Dov Sella will present at the Jeffries Industrial Conference on August 6 at 8:35am EDT and will also be available for one-on-one meetings on August 5 and 6.
Additionally, RADA will present at the Canaccord Genuity 40th Annual Growth Conference on August 13 at 2:30pm EDT, with one-on-one meetings available from August 11 to 13.
RADA Electronic Industries Ltd. (NASDAQ: RADA) will release its Q2 2020 financial results on August 11, 2020. The company will host a conference call at 9:00 am EDT, featuring CEO Dov Sella and CFO Avi Israel, who will address questions after the presentation. Participants can join via a provided US, Israel, or international call-in number. A webcast will also be available on RADA's website. RADA specializes in radar solutions and legacy avionics, focusing on growing sectors like border surveillance and counter-drone applications.
RADA Electronic Industries Ltd. (NASDAQ: RADA) has received $8 million in new orders since June 1, 2020, bringing total new orders in 2020 to $49 million, up from $31 million in the same period of 2019. Most new orders are for software-defined tactical radars, with expectations to grow revenues to over $65 million, a 47% increase year-over-year. CEO Dov Sella noted that the consistent flow of orders, even amid the COVID-19 crisis, supports their optimistic growth outlook.