RADA Reports New Orders of $9 Million During First Half of 2013
NETANYA, Israel, July 2, 2013 (GLOBE NEWSWIRE) -- RADA Electronic Industries
Ltd. (Nasdaq:RADA) announced today that it had received new orders totaling $9
million along the first half of 2013.
The vast majority of these new orders are for mission data recording and
debriefing systems, along with various avionics systems and aircraft upgrade
Of significant importance are new orders for radar systems, both for the
Compact Hemispheric Radar (CHR) and for the Multi-Mission Hemispheric Radar
Zvika Alon, RADA CEO, commented: "The new orders for recording systems
emphasize our global presence and market recognition of the quality and
affordability of our solutions. We are very pleased with the initial orders
for our advanced radar systems. We expect that our recorders and avionics
product lines will demonstrate stable sales, while future growth will come
from radars and inertial navigation systems."
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, Inertial Navigation
Systems for air and land applications, and Avionics Systems and Upgrades.
Certain statements in this press release are "forward-looking statements"
within the meaning of the Private Securities Litigation Act of 1995. Such
statements involve known and unknown risks, uncertainties and other factors
that may cause actual results to differ materially. Such risk uncertainties
and other factors include, but are not limited to, changes in general economic
conditions, risks in product and technology developments, market acceptance of
new products and continuing product demand, level of competition and other
factors described in the Company's Annual Report on Form 20-F and other
filings with the Securities and Exchange Commission.
CONTACT: Company Contact:
Dubi Sella (CBDO)
Press spacebar to pause and continue. Press esc to stop.