Market Overview

RADA Announces $4 Million in Radar Orders


NETANYA, Israel, Aug. 06, 2018 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ:RADA) announced the receipt of $4 million in radar orders in the second quarter.

The orders were for RADA's software-defined radars which will be used in today's most advanced defense applications. These include active protection systems (APS) for armored vehicles, counter rocket artillery and mortar (C-RAM), counter UAV and short range air defense (SHORAD). A third of these orders were follow-on-sales from existing customers and the remainder was from new and highly strategic customers. These new customers are leading defense organizations and represent initial sales from which RADA expects further follow-on orders in the future.

Dov Sella, RADA's CEO, commented, "Our leading radar technologies are gaining increased traction and these recent orders are the initial fruits of our newly established presence in the United States along with our global business development efforts. We expect the sales of our radars to accelerate in the coming quarters as the market becomes increasingly aware of the benefits of our products in providing solutions for emerging needs."  

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:
Gil Schwartz (VP, BD & Marketing)
Tel: +972-9-892-1111 
Investor Relations Contact:
GK Investor Relations
Ehud Helft/Gavriel Frohwein
Tel: 1 646 688 3559 

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