Rada: Expect revenues of more than $ 120m in 2021 – 60% increase – capital market

Company

Rada
+ 5.6%

closure:0

opening:9.12

Tall:9.52

low:8.99

cycle:–

Page Quote News Graphs Company Profile Recommendations


More articles on the subject:




The Israeli traded on the Nasdaq is updating its forecast for 2021 and expects revenues of over $ 120 million, improved profitability and continuous quarterly growth. The forecast is based on the pace of new orders, as well as those expected, most of which will come from sales to the US Tasks.

The company is also basing its forecast on the growing market demand for the products it has developed. Just last weekend, Rada reported new orders totaling $ 23 million during the months of November and December 2020 alone. Since the beginning of the year, the total number of new orders has accumulated from the beginning of 2020 to a peak of $ 102 million – more than 70% higher than the $ 60 million it entered in 2019.

Rada, headquartered in Netanya, operates worldwide in the field of military technologies and focuses on unique radar solutions and avionics legacy systems. Rada’s developments are used to protect critical facilities, borders, maneuvering forces and anti-skimmer applications.

“We continue to experience an unprecedented period of growth, driven by our new and growing market of tactical radars,” he said. Said Dov Sela, CEO of Rada. “The new orders received in the past year, together with the accumulation of opportunities answered by employees, provide us with excellent visibility for 2021 and great confidence that our current growth rate, at over 60%, will continue. In addition, given our profitability rates and operating expenses, we We expect a significant improvement in our profitability. “