Company
Rada
-0.67%
Base:4,892
opening:4,892
High:4,898
low:4,833
change:713,614
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Engaged in the development and manufacture of tactical radars for the maneuvering force, reports receipt of new orders totaling over $ 29 million in the first quarter of 2022. The new orders received represent an increase of more than 22% compared to the corresponding quarter of 2021.
Over 95% of all orders received are for the company’s software-based tactical radars for use in active defense systems (APS), unmanned aerial vehicles, short-term air defense (SHORAD) and spot defense solutions for strategic bases and facilities. 80% of orders received from the market American, and the rest other global marketers.
Dov Sela, CEO of Rada, stated: “We ended 2021 with a book-to-bill ratio slightly higher than 1, a ratio that was lower than we had. Failure to transfer the budget in the US and continued budgeting based on the previous year, which lasted almost 6 months and ended at 11 In March this year, were the main causes of the relative decline in new orders in the US during this period and also affected our revenues in 2021. However, starting from the end of this situation we are experiencing renewed momentum in accepting new orders in the US, which is our main market. The delays in orders and revenues caused by the non-transfer of the budget will be compensated during the rest of 2022. In light of the positive momentum, and alongside the highlighted needs for radars from our product to enable air defense and active defense solutions as reflected in the current and ongoing war in Ukraine, we $ 140 million in 2022. ”
Rada has been in a positive trend since the beginning of 2022, when the share price jumped by 60% since the beginning of the year, in the fourth quarter of 2021 the company reported revenues that amounted to about $ 31.8 million, an increase of about 36% compared to the same period then amounted to about $ 23.3 million , And above analysts’ expectations of about $ 31.6 million. Net income attributable to Rada’s shareholders was $ 4.9 million, or 11 cents a share, and below market expectations of 12 cents a share, compared to net income of $ 2.6 million, or 6 cents a share, in the same period last year.
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