rada electronic inds ltd (RADA) Key Developments
MOD Selects RADA's Tactical Radars for its National Alert System
Dec 4 14
RADA Electronic Industries Ltd. announced the selection of its MHR-based tactical radars by a leading MOD of for its national alert system. The radars will detect and alert from short-range threats such as mortars, rockets, UAVs and alike. Deliveries are expected to be completed during 2015. The MHR - an S-Band, Software-Defined, Pulse-Doppler, AESA radar - has sophisticated beam forming capabilities and advanced signal processing, provides multiple missions on each radar platform, and offers unprecedented performance-to-price ratio. It is compact and mobile, delivering ideal organic, tactical surveillance solutions for force and border protection applications such as C-UAS, C-RAM, GMTI, air surveillance, and more.
RADA Electronic Industries Ltd. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
Nov 28 14
RADA Electronic Industries Ltd. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of USD 4,818,000 against USD 4,453,000 a year ago. Operating income was USD 93,000 against loss of USD 113,000 a year ago. Loss attributable to RADA shareholders was USD 202,000 or USD 0.02 per basic and diluted share against USD 576,000 or USD 0.06 per basic and diluted share a year ago.
For the nine months period, the company reported revenue of USD 16,602,000 against USD 15,045,000 a year ago. Operating income was USD 1,181,000 against loss of USD 1,291,000 a year ago. Income attributable to RADA shareholders was USD 338,000 or USD 0.04 per basic and diluted share against loss of USD 2,675,000 or USD 0.3 per basic and diluted share a year ago.
RADA Electronic Industries Ltd., Annual General Meeting, Nov 27, 2014
Oct 23 14
RADA Electronic Industries Ltd., Annual General Meeting, Nov 27, 2014., at 10:00 Israel Standard Time. Location: 7 Giborei Israel Street. Agenda: To reelect Mr. Adrian Berg as a Class C director for an additional term of three years expiring at 2017 Annual General Meeting of Shareholders; and to ratify and approve the reappointment of Kost Forer Gabbay & Kasierer, registered public accounting firm, a member firm of Ernst & Young Global, as independent registered public accountants for the year ending December 31, 2014, and to authorize the Audit Committee to determine their compensation.
RADA Electronic Industries Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and the Six Months Ended June 30, 2014; Provides Earnings Guidance for the Year 2014
Sep 8 14
RADA Electronic Industries Ltd. reported unaudited consolidated earnings results for the second quarter and the six months ended June 30, 2014. For the quarter, the company reported revenues of $6.4 million, 23% increase compared to $5.2 million in the second quarter of 2013. Net income was $385,000, or $0.04 per basic and diluted share compared to a net loss of $935,000 or $0.10 per basic and diluted share, for the second quarter of 2013. Operating profit was $642,000 compared to operating loss of $488,000 a year ago.
For the six months period, revenues totaled $11.8 million, 11% increase compared to $10.6 million for the same period in 2013. Net income was $542,000 or $0.06 per basic and diluted share compared with a net loss of $2,100,000 or $0.23 per basic and diluted share, for the comparable period in 2013. Operating profit was $1,089,000 compared to operating loss of $1,179,000 a year ago.
The company expects to continue the year 2014 with similar gross margins and therefore maintain expectation for favorable 2014 results.
US Navy Office of Naval Research Selects RADA Electronic Industries RPS-42 Tactical Volume Surveillance Radar System
Jun 12 14
RADA Electronic Industries Ltd. announced the selection of its RPS-42 Tactical Volume Surveillance Radar System by the US Navy Office of Naval Research (ONR). The system was selected for the Ground-Based Air Defense (GBAD) Directed Energy (DE) On-The-Move (OTM) Development Program as part of ONR's plans to increase the US Marine Corps' current low-altitude air-defense capabilities in dealing with new threats, specifically Unmanned Aerial Systems (UAS). Delivery of the system to the US Navy is planned for July 2014. The GBAD DE OTM is a Future Naval Capability development program, aimed at demonstrating a vehicle-mounted on-the-move short-range air-defense laser system to defeat Low Observable/Low Radar Cross Section (LO/LRCS) threats to Marine Corps forces, such as UAS. RADA's RPS-42 Tactical Volume Surveillance Radar System, based on its Multi-Mission Hemispheric Radar (MHR), detects, tracks and classifies micro and mini UAS (Groups 1&2) at ranges of up to 10km. It accurately tracks the threats up to very high elevation angles, operates on-the-move, and introduces unprecedented performance-to-price ratio. In addition to UAVs and short-range RAM (Rockets, Artillery and Mortars), the system also detects and tracks other aerial targets, including fighter and transporter aircraft, helicopters, etc. The uniqueness of the RPS-42 system lies in its ability to detect exceptionally small, low and slow-flying UAS - categorized as significant tactical threats to maneuver forces - which cannot be detected by most existing air defense radars. Advanced VSHORAD systems, especially those based on Directed Energy, require compact tactical radars that are able to detect these and other threats, operate on-the-move, and provide vital real-time threat information to the fire control system. All these critical capabilities are provided by the RPS-42 system - delivering volume surveillance and detection of multiple threat types, including the smallest threats. The MHR an S Band, Software-Defined, Pulse-Doppler, AESA radar is a digital radar platform which is GaN based and introduces sophisticated beam forming capabilities and advanced signal processing. It provides multiple missions on each radar platform and can combine C-UAS and C-RAM operational missions on the same radar, thus delivering ideal organic, tactical surveillance solutions for force protection systems.