Company
Rada
+ 3.4%
Base:4,201
opening:4,358
High:4,375
low:4,310
change:1,234,454
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Earned $ 2.6 million in the fourth quarter of 2020 compared to a loss of $ 0.3 million in the same quarter in 2019. Revenue in the fourth quarter of 2020 was $ 23.3 million, a 62% jump compared to revenue of $ 14.4 million in the corresponding quarter.
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Gross profit in the fourth quarter of 2020 was $ 9 million (39% of revenue), compared to gross profit of $ 5.1 million (36% of revenue) in the fourth quarter of 2019.
In 2020, revenues totaled $ 76.2 million, an increase of 72% compared to revenues of $ 44.3 million in 2019. Gross profit in 2020 amounted to $ 28.3 million (37% of revenues), compared to gross profit of $ 15.9 million (36% of revenues ) In 2019.
Operating profit in 2020 amounted to $ 5.5 million, compared to an operating loss of $ 2.1 million in 2019. Net income attributable to Rada shareholders in 2020 amounted to $ 5.6 million, or 13 cents per fully diluted share, compared to a net loss of $ 2.0 million $, Or 5 cents per fully diluted share, in 2019. EBITDA in 2020 totaled $ 9.7 million, compared to EBITDA of $ 0.4 million in 2019.
Bear Rock, Rada CEO said: “We are particularly pleased with our performance in 2020, and the 72% growth in the company’s all-time record revenue of $ 76.2 million. Moreover, despite the significant investments we have made in our infrastructure and the establishment of a new production line and presence in the US, we have generated EBITDA of close to $ 10 million during the year. Higher”.
“Today we report the signing of a memorandum of understanding for the acquisition of 12% of RADSee Technologies for $ 3 million. RADSee Technologies is an Israeli company, in the early stages, that deals with advanced radar technologies for the existing and autonomous commercial vehicle market. We see many technological synergies in this investment, as well as potential for expanding our target markets in the future. When we realize that the solution is due and the market potential of the company is realized, we have an option to increase the holdings in the company. At this point, we will be a minority shareholder, which will allow us to continue to focus on the massive growth potential in our current core business. ”
Mr. Sela concluded, “Our strong ordering momentum, which began in mid-2019 and continued through 2020, has strengthened our confidence that we will reach revenues of over $ 120 million in 2021. Also, in light of the maturation of the plans we provide radars, we anticipate that trend Revenue growth will continue beyond 2021. “
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