rada electronic inds ltd (RADA) Key Developments
RADA Electronics Receives Radar Order
Jul 1 15
RADA Electronic Industries has announced it is to produce a tactical air surveillance radar system for an unidentified European defense contractor. The value of the contract and the number of Multi-mission Hemispheric Radars to be supplied were not disclosed but the company said the order would be fulfilled by the end of this year. RADA's Multi-mission Hemispheric Radar, or MHR, is an S-band, software-defined, pulse-Doppler, active electronically scanned array radar with advanced signal processing. It detects and tracks multiple aerial targets -- fighters and transports to small unmanned aerial vehicles.
RADA Electronic Industries Ltd. Wins Contract for Upgrade and Production of UAV Avionic Unit
Jul 1 15
RADA Electronic Industries Ltd. announced that it was awarded a contract from a Israeli defense contractor to upgrade a previously designed UAV (unmanned aerial vehicle) avionics unit and to supply additional production units. The total order value is $1.5 million with deliveries expected during the next 24 months.
RADA Electronic Industries Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 26 15
RADA Electronic Industries Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenue of $3,648,000 against $5,347,000 a year ago. Operating loss was $458,000 against operating income of $447,000 a year ago. Net loss attributable to the company was $777,000 against net income attributable to the company of $158,000 a year ago. Basic and diluted net loss per share was $0.09 against basic and diluted earnings per share of $0.02 a year ago.
RADA Electronic Industries Ltd. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Audited Consolidated Earnings Results for the Full Year Ended December 31, 2014
Apr 29 15
RADA Electronic Industries Ltd. announced unaudited consolidated earnings results for the fourth quarter and audited consolidated earnings results for the full year ended December 31, 2014. For the quarter, the company’s Revenues totaled $5.9 million, a 12% decrease when compared with $6.7 million in the fourth quarter of 2013. Operating income totaled $0.3 million, a 45% decrease when compared to operating income $0.6 million in the fourth quarter of 2013. The company reported a net loss of $0.132 million, or $0.01 per share compared to a net income of $39,000 or $0.004 per share, for the fourth quarter of 2013.
For the full year, the company’s revenues totaled $22.5 million, a 3% increase when compared with $21.8 million in 2013. Operating income totaled $1.4 million, compared with an operating loss of $0.7 million in 2013. The company reported net income of $0.2 million, or $0.02 per share, compared with a net loss of $2.635 million, or $0.30 per share, for the year ended December 31, 2013.
DRS Technologies Inc. Signs Strategic Teaming Agreement with RADA Electronic Industries
Apr 2 15
DRS Technologies Inc. announced that it has signed a strategic teaming agreement with RADA Electronic Industries Ltd. to bring the company's tactical active electronically scanned array radar technology into the North American market. Under this agreement, DRS will market, sell, produce and support tactical AESA radars as part of its tactical radar portfolio. The combination of RADA's technology along with DRS market presence, customer awareness, engineering, and production capabilities is expected to produce significant interest in the North American defense industry market.