RADA Announces New Orders Amounting to $12.5 million
RADA Electronic Industries Ltd. - Ordinary Shares (RADA)
US:NASDAQ Investor Relations:
rada.com/corp/corporate-ir.html
Company Research
Source: GlobeNewswire
NETANYA, Israel, Dec. 06, 2019 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ: RADA) announced that it has received a total of $12.5 million in new orders during the months of October and November of 2019. This level of over $53 million new orders received so far in 2019, is an all-time record for the Company and demonstrates the market acceptance of our radar growth engine. Over 90% of the new orders are for RADA’s growth engine: multi-mission, software-defined tactical radar systems. Applications for these radar systems are mainly for C-UAV (counter UAV/drones) solutions, for V-SHORAD (very short-range air defense) and APS (active protection systems) solutions. Half of the orders were growing follow-on orders from customers that have become a RADA customer in the past two years, and half were from altogether new customers. Dov Sella, RADA’s CEO, commented, "2019 has been a year of significant growth in our radar business, while avionics remain stable. This co
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