RADA - RADA Electronics gains after reporting 33% rise in new orders for Q2

sitox/E+ via Getty Images RADA Electronic Industries (RADA) jumps 7% premarket after announcing that it has received $32M worth of new orders in Q2 2021, an increase of 33.3% Q/Q from $24M in Q1 2021, with majority of deliveries expected in H2 2021. The total amount of new orders in H1 was $56M, +37% Y/Y. Of the new orders in H1, 91% were for RADA’s software-defined tactical radars for counter UAV, short-range air defense and counter fires - 64% U.S. orders, 27% rest of the world. The remaining orders were for RADA’s legacy avionics products. “We have good momentum going into the second half of 2021... Accordingly, we are reiterating our revenue guidance of over $120 million for 2021 and expect our growth momentum to continue into 2022,” Dov Sella, RADA’s CEO, commented.

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RADA Electronics gains after reporting 33% rise in new orders for Q2