RADA Electronic Industries Announces Q1 2017 Results: YoY Revenue Growth of 91%; Return to Profitability
RADA Electronic Industries Ltd. - Ordinary Shares (RADA)
US:NASDAQ Investor Relations:
rada.com/corp/corporate-ir.html
Company Research
Source: GlobeNewswire
NETANYA, Israel, May 24, 2017 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ:RADA) announced today its financial results for the quarter ended March 31, 2017.Management CommentsDov Sella, RADA's Chief Executive Officer commented, “We are very pleased with our significant revenue growth, which is almost double that of the first quarter of last year. These results, combined with our improved balance sheet, are evidence that the turnaround of the company, focused towards sales of our radar technology is beginning to mature. Looking ahead and given the timing of certain orders, we expect the second quarter to be strong. On the back of our expectations of a particularly strong first half of 2017, we are increasing our full year revenue guidance towards $20 million for 2017, representing a year over year growth of over 50%. Furthermore, we expect to return to profitability in 2017 on a full-year basis.”Continued Mr. Sella, “Strategically, we have also made significant progre
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