These orders are new sale penetrations at strategic defense customers
NETANYA, Israel, Oct. 10, 2018 — RADA Electronic Industries Ltd. (NASDAQ: RADA) announced the receipt of approximately $5 million in new radar orders, in recent weeks.
The orders were for RADA’s software-defined radars for counter rocket artillery and mortar (C-RAM) and counter UAV and short range air defense (SHORAD). All orders were from new and strategic customers. These new customers are leading defense organizations and represent initial sales from which RADA expects significantly greater further follow-on orders in the future.
Deliveries of these orders will be completed in 2018.
Dov Sella, RADA’s CEO, commented, “These are the result of the growing fruits of our ongoing business development efforts globally. The fact that these orders represent an initiation penetration of new customers, it also brings with it a strong potential for future orders at a much greater scale. The market for our tactical radars is new and very much in the emerging phase, and the early orders we have sold in the past year across our customer base present significant potential for follow-on orders in the near future.”
RADA Electronic Industries Ltd., an Israel-based defense electronics company, specializes in the development, production, and sales of Tactical Land Radars for Force and Border Protection, and Avionics Systems (including Inertial Navigation Systems) for fighter aircraft and UAVs.
|Company Contact: Gil Schwartz (VP, BD & Marketing) Tel: +972-9-892-1111 [email protected] www.rada.com||Investor Relations Contact: GK Investor Relations Ehud Helft/Gavriel Frohwein Tel: 1 646 688 3559 [email protected]|