RADA Electronic Industries Announces Q2 2017 Resul
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Posted On: 09/09/2017 4:20:10 PM
RADA Electronic Industries Announces Q2 2017 Results
Netanya, Israel, August 10, 2017 - RADA Electronic Industries Ltd. (Nasdaq: RADA), announced today its financial results for the quarter ended June 30, 2017.
Improvements Across all Parameters; Increasing Revenue Guidance for 2017 to $25M, YoY growth of 100%
Management Comment
Dov Sella, RADA's Chief Executive Officer commented, “We are very pleased with our results of the second quarter, showing an almost doubling of revenues (compared to Q2 2016) and a strong turnaround back to profitability. The primary driver of our growth is our software-defined tactical radar sales which are becoming the majority of our revenues, while the avionics business is stable. As we progress through 2017, we are now finally seeing the fruits of our significant investments over the years in the radar product line, which is generating strong interest amongst customers in our target markets, especially in the United States.”
Continued Mr. Sella, “Based on our backlog and pipeline, we are increasing our full year revenue guidance towards $25 million for 2017, representing a year over year growth of almost 100%.”
Concluded Mr. Sella, “We still believe we are at the early stages of unleashing the very significant long-term potential of our radar technology. We look forward to realizing it, in the years ahead.”
2017 Second Quarter Summary
Revenues totaled $5.3 million in the second quarter of 2017, up 94% compared to revenues of $2.7 million in the second quarter of 2016.
Gross Profit totaled $1.7 million in the second quarter of 2017 (gross margin of 31.3%) compared to gross profit of $0.2 million (gross margin of 7.4%) in the second quarter of 2016.
Operating income was $0.5 million in the second quarter of 2017 compared to an operating loss of $1 million in the second quarter of 2016.
Net income attributable to RADA’s shareholders in the second quarter of 2017 was $0.5 million, or $0.02 per share, compared with a net loss of $1.6 million, or $0.13 per share, in the second quarter of 2016.
https://www.rada.com/corp/news/219-pr-2107-q2-results.html
Netanya, Israel, August 10, 2017 - RADA Electronic Industries Ltd. (Nasdaq: RADA), announced today its financial results for the quarter ended June 30, 2017.
Improvements Across all Parameters; Increasing Revenue Guidance for 2017 to $25M, YoY growth of 100%
Management Comment
Dov Sella, RADA's Chief Executive Officer commented, “We are very pleased with our results of the second quarter, showing an almost doubling of revenues (compared to Q2 2016) and a strong turnaround back to profitability. The primary driver of our growth is our software-defined tactical radar sales which are becoming the majority of our revenues, while the avionics business is stable. As we progress through 2017, we are now finally seeing the fruits of our significant investments over the years in the radar product line, which is generating strong interest amongst customers in our target markets, especially in the United States.”
Continued Mr. Sella, “Based on our backlog and pipeline, we are increasing our full year revenue guidance towards $25 million for 2017, representing a year over year growth of almost 100%.”
Concluded Mr. Sella, “We still believe we are at the early stages of unleashing the very significant long-term potential of our radar technology. We look forward to realizing it, in the years ahead.”
2017 Second Quarter Summary
Revenues totaled $5.3 million in the second quarter of 2017, up 94% compared to revenues of $2.7 million in the second quarter of 2016.
Gross Profit totaled $1.7 million in the second quarter of 2017 (gross margin of 31.3%) compared to gross profit of $0.2 million (gross margin of 7.4%) in the second quarter of 2016.
Operating income was $0.5 million in the second quarter of 2017 compared to an operating loss of $1 million in the second quarter of 2016.
Net income attributable to RADA’s shareholders in the second quarter of 2017 was $0.5 million, or $0.02 per share, compared with a net loss of $1.6 million, or $0.13 per share, in the second quarter of 2016.
https://www.rada.com/corp/news/219-pr-2107-q2-results.html
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