RADA - RADA receives $20M in new orders since mid-September

RADA Electronic Industries ([[RADA]] +1.3%) received $20M in accumulated new orders since mid-September 2020; YTD, total amount of new orders stood at $79M vs. $41M in year ago period.New orders are for software-defined tactical radars for the U.S. market, demonstrating immediate needs for RADA's tactical radars in all of the relevant market segments that these radars are addressing.Order deliveries are planned to be spread along 1H21.Strong growth estimated to continue into 2021 with recent orders building a significant backlog."..we are still expecting additional orders during the remainder of 2020, with emphasis on the US Army IM-SHORAD program, which was recently awarded to General Dynamics and is in process of reaching RADA as well. We reiterate our expectations of continued Q/Q growth and growing operating profit throughout the remainder of 2020 and also into 2021," CEO Dov Sella commented.

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RADA receives $20M in new orders since mid-September