RADA Announces $6 Million in New Orders
RADA Electronic Industries Ltd. - Ordinary Shares (RADA)
US:NASDAQ Investor Relations:
rada.com/corp/corporate-ir.html
Company Research
Source: GlobeNewswire
NETANYA, Israel, Oct. 10, 2019 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ: RADA) announced that it has received $6 million in new orders during August and September of 2019. Over 90% of the new orders are for RADA’s multi-mission, software-defined tactical radar systems. Applications for the radar systems are mainly for C-UAV (counter UAV/drones) solutions, and for V-SHORAD (very short-range air defense) and APS (active protection systems) solutions. The vast majority were follow-on orders from recent customers that have become RADA customers in the past two years. The remainder were from new customers whose orders were smaller in scale – bringing promising prospects for further larger orders in the near term. Since the beginning of 2019, RADA has received a total of $41 million in new orders, out of which $32 million have been for RADA’s multi-mission tactical radars. Dov Sella, RADA’s CEO, commented, "We see very strong interest for our drone detection radars,
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