Holdings data in the stock of RADA ELECTRONIC INDUSTRIES LTD
According to FUNDER website data,
86 mutual funds hold shares in RADA ELECTRONIC INDUSTRIES LTD amounting to NIS 65.96 million
Funds that hold significant holdings in the stock – for the full list of holdings
Below is a change in the holdings of the mutual funds in the share of RADA ELECTRONIC INDUSTRIES LTD according to data from FUNDER-MVF
RADA Electronic Industries Ltd. (NASDAQ & TASE: RADA), a global leader in the development and production of tactical radar for the maneuvering force, today reports its financial results for the fourth quarter and the year ended December 31, 2020.
Summary of results for 2020
• Revenue of $ 76.2 million, an increase of 72% over last year;
• Net income of $ 5.6 million, compared to a net loss of $ 2.3 million in 2019;
• EBITDA of $ 9.7 million, compared to EBITDA of $ 0.4 million last year;
• The cash position at the end of the year amounted to approximately $ 35.8 million;
Summary of the results of the fourth quarter of 2020
• Record revenue for the quarter of $ 23.3 million, an increase of 62% over the same quarter last year;
• Gross profitability rate of 39%, an increase compared to 36% in the fourth quarter of 2019;
• Net income of $ 2.6 million, compared to a net loss of $ 0.3 million in 2019;
• EBITDA of $ 3.9 million and EBITDA of 17%.
Management response
Dov Sela, CEO of Rada, told FUNDER : “We are particularly pleased with our performance in 2020, and a 72% growth in the company’s all-time high of $ 76.2 million. Furthermore, despite the significant investments we have made in our infrastructure and the establishment of a new production line and presence in the US, $ 10 million during the year. Given the growing sales volume and the significant investments behind us, we expect continued strong revenue growth, with higher profitability rates. “
“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 The increase in revenue will continue beyond 2021. “
Summary of the results of the fourth quarter of 2019
Revenue in the fourth quarter of 2020 totaled $ 23.3 million, a 62% jump compared to revenue of $ 14.4 million in the fourth quarter of 2019.
Gross profit in the fourth quarter of 2020 amounted to $ 9.0 million (39% of revenue), compared to gross profit of $ 5.1 million (36% of revenue) in the fourth quarter of 2019.
Operating profit for the fourth quarter of 2020 was $ 2.8 million, compared to an operating loss of $ 0.2 million for the fourth quarter of 2019.
Net income attributable to Rada shareholders in the fourth quarter of 2020 totaled $ 2.6 million, or 6 cents per fully diluted share, compared to a net loss of $ 0.3 million, or 1 cent per full diluted share, in the fourth quarter of 2019.
EBITDA in the fourth quarter of 2020 was $ 3.9 million, compared to EBITDA of $ 0.6 million in the fourth quarter of 2019.
Summary of results for 2020
Revenue in 2020 totaled $ 76.2 million, an increase of 72% compared to revenue of $ 44.3 million in 2019.
Gross profit in 2020 totaled $ 28.3 million (37% of revenue), compared to gross profit of $ 15.9 million (36% of revenue) in 2019.
Operating profit in 2020 totaled $ 5.5 million, compared to an operating loss of $ 2.1 million in 2019.
Net income attributable to Rada shareholders in 2020 totaled $ 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 totaled $ 9.7 million in 2020, compared to EBITDA of $ 0.4 million in 2019.
The Company’s cash balance and cash value as of December 31, 2020 amounted to $ 35.8 million compared to $ 13.8 million as of December 31, 2019.