Netanya, Israel, November 15, 2018 – RADA Electronic Industries Ltd. reestablishes its position as a world leader in advanced tactical radars solutions with Q3 financial results that bring revenue for 2018 to $30 million. Rada’s continued growth in revenue and in profit margin, as well as its increased investment in R&D are influenced by the company’s recent expanded presence in the United States marketplace. A $12 million sales announcement earlier this week and the recent orders of $ 5 million for its software-defined radars for counter rocket artillery and mortar (C-RAM) and counter UAV and short range air defense (SHORAD), demonstrate Rada's expansion both financially and technologically.
“2018 represents a year of solid progress for RADA, globally, but especially in the United States – where our continued investment throughout this year confirmed our business presence and improved our abilities to well respond to the market needs”, says Dov Sella, RADA's Chief Executive Officer. “Rada currently enjoys a positive momentum, having won some highly strategic as well as some follow-on orders with key customers”. Sella further notes that Rada expects follow-on orders to become a dominant part of the Rada total awarded contracts in the near future. “Our efforts and increased continues investment in both markets and technology produce satisfied customers who show their trust in us by placing follow-on orders”. According to Mr. Sella, this will influence results for next year and years to come. “2017 was one of Rada’s strongest years, with a record revenue, an achievement mainly based on a specific large order. 2018’s revenue is more diversified, and we expect it to be proven an even better year than 2017. Yet our real excitement lies with 2019 and the years to follow, during which – as we begin to realize – our full potential will materialize”, he concludes.
About RADA Electronic Industries Ltd.
RADA Electronic Industries Ltd. is an Israel-based defense electronics company. The Company specializes in the development, production, and sales of tactical land radar for force and border protection, and avionics systems (including inertial navigation systems) for fighters and UAVs.
Gil Schwartz (VP, BD & Marketing)