RADA - RADA Electronic rallies on FY21 revenue growth at 60%+

RADA Electronic Industries (RADA) +7.7% PM,  expects FY21 revenue to be over $120M, with sequential Q/Q revenue and profitability growth throughout the year.Guidance is based on the growing market acceptance of RADA's tactical radars, the recent level of new and expected orders, as well as the backlog which RADA has started to build for 2021 and onwards.A major portion of revenues will be derived from RADA's growth engine: multi-mission, software-defined tactical radar systems, especially in the U.S. market."The new orders received throughout the past year, along with our very healthy pipeline for our tactical radars' growth engine, give us excellent visibility into 2021 and strong confidence that our 60%+ revenue growth rate will continue. Furthermore, given our improving gross margins and operating expense structure, we expect to significantly improve our profitability," CEO Dov Sella commented.

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RADA Electronic rallies on FY21 revenue growth at 60%+