NETANYA, Israel, Aug. 17, 2022 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ:RADA, TASE: RADA))) announced today its financial results for the three and six month periods ended June 30, 2022. Highlights of the second quarter of 2022 Quarterly revenues of $23.0 million;Gross margin of 35%;Previously announced merger with DRS proceeding as expected - merger expenses of $2.6 million incurred in the second quarter;Operating loss of $3.0 million;Net loss of $4.4 million;Adjusted EBITDA of $1.8 million representing margin of 7.7%;Quarter-end net cash position of $55.7 million. Management Comments Dov Sella, RADA's Chief Executive Officer commented, "As we announced a few weeks

NETANYA, Israel, Aug. 08, 2022 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (Nasdaq: RADA & TASE: RADA) announced that it would be releasing its financial results for the second quarter of 2022 on Wednesday, August 17, 2022. The Company will host a conference call on the same day, starting at 09:00 am ET. Dov Sella, Chief Executive Officer and Avi Israel, Chief Financial Officer, will host the call and will be available to answer questions after presenting the results. To participate, please call one of the following telephone numbers a few minutes before the start of the call: US:1-888-723-3164at 9:00 am Eastern TimeIsrael:03-918-0610at 4:00 pm Israel TimeInternational:+972-3-918-

All-stock merger combines Leonardo DRS, a leading U.S.-based mid-tier defense technology provider, and RADA Electronic Industries Ltd., a leading Israel-based provider of small-form tactical radars. RADA's advanced tactical radars improve Leonardo DRS's position as an air defense, counter-UAS and vehicle protection integrator, accelerating its transformation into a provider of integrated sensor systems and leader in advanced sensing and force protection markets.The Combined Company will be aligned with some of the fastest growing segments of the U.S. Department of Defense budget and positioned to pursue global opportunities through the worldwide presence of Leonardo DRS's parent company, Leo

All-stock merger combines Leonardo DRS, a leading U.S.-based mid-tier defense technology provider, and RADA Electronic Industries Ltd., a leading Israel-based provider of small-form tactical radars. RADA's advanced tactical radars improve Leonardo DRS's position as an air defense, counter-UAS and vehicle protection integrator, accelerating its transformation into a provider of integrated sensor systems and leader in advanced sensing and force protection markets. The Combined Company will be aligned with some of the fastest growing segments of the U.S. Department of Defense budget and positioned to pursue global opportunities through the worldwide presence of Leonardo DRS's parent com

NETANYA, Israel, May 10, 2022 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ: RADA & TASE: RADA) announced today its financial results for the quarter ended March 31, 2022. Highlights of the first quarter of 2022 The financial results were significantly impacted by the over 5-month US budget delay and the Continuing Resolution (CR) with respect to government appropriations to federal agencies which ended March 11, 2022;Strong bookings of over $29 million, represents over-22% year-over-year growth in new business;Quarterly revenues amounted to $22.5 million;Net loss of $0.7 million compared with net income of $3.8 million in Q1 2021;Adjusted EBIDTA of $1.3 million;Qua

NETANYA, Israel, May 04, 2022 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (Nasdaq: RADA & TASE: RADA) announced that it would be releasing its financial results for the first quarter of 2022 on Tuesday, May 10, 2022. The Company will host a conference call on the same day, starting at 09:00 am ET. Dov Sella, Chief Executive Officer and Avi Israel, Chief Financial Officer, will host the call and will be available to answer questions after presenting the results. To participate, please call one of the following telephone numbers a few minutes before the start of the call: US:1-888-723-3164at 9:00 am Eastern TimeIsrael:03-918-0610at 4:00 pm Israel TimeInternational:+972-3-918-0610

NETANYA, Israel, Feb. 09, 2022 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ:RADA, TASE: RADA))) announced today its financial results for the year and quarter ended December 31, 2021. Highlights of Full Year 2021 Record revenues of $117.2 million, up 54% year-over-year;Gross margin of 41% up from 37% in 2020;Net income of $25.1 million compared to $5.6 million net income in 2020;Adjusted EBITDA of $27.3 million (23% margin) compared to $9.7 million (13% margin) in 2020;Year-end net cash position of $78.8 million. Highlights of Q4 2021 Quarterly revenues of $31.8 million, up 36% year-over-year;Gross margin of 41%, up from 39% in Q4 of 2020;Net income of $4.9 million compa

NETANYA, Israel, Feb. 02, 2022 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ:RADA, TASE: RADA))) announced that it would be releasing its financial results for the fourth quarter and full year 2021 on Wednesday, February 9, 2022. The Company will host a conference call later that same day, starting at 9:00 am ET. Dov Sella, Chief Executive Officer and Avi Israel, Chief Financial Officer, will host the call and will be available to answer questions after presenting the results. To participate, please call one of the following telephone numbers a few minutes before the start of the call: US:1-888-723-3164at 9:00 am Eastern TimeIsrael:03-918-0610at 4:00 pm Israel TimeInternati

NETANYA, Israel, Nov. 03, 2021 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ:RADA, TASE: RADA))) announced today its financial results for the three-month and nine-month periods ended September 30, 2021. Highlights of the third quarter of 2021 Quarterly revenues up 57% year-over-year and a sequential 13% increase to $32 millionStrong gross margin improvement to 41% compared with 38% in the year-ago quarterOperating profit more than tripled to $6.3 million compared with $2.0 million in the year-ago quarterNet income of $6.0 million, up 184% compared with $2.1 million in the year-ago quarterAdjusted EBITDA of $8.2 million, an increase of 162% compared to $3.1 million in t

NETANYA, Israel, Oct. 21, 2021 /PRNewswire/ -- RADA Electronic Industries Ltd. (NASDAQ:RADA) (TASE: RADA) announced that it would be releasing its financial results for the third quarter of 2021 on Wednesday, November 3, 2021. The Company will host a conference call later that same day, starting at 9:00 am ET. Dov Sella, Chief Executive Officer and Avi Israel, Chief Financial Officer, will host the call and will be available to answer questions after presenting the results. To participate, please call one of the following telephone numbers a few minutes before the start of the call: US:         1-888-723-3164 at 9:00 am Eastern Time Israel:    03-918-0610 at 3:00 pm Israel Time Internat

Leonardo DRS, Inc. ("DRS"), a leading mid-tier defense technology provider, today announced that on October 24, 2022, DRS and RADA Electronic Industries Ltd. (NASDAQ & TASE: RADA) ("RADA") received regulatory approval from The Committee on Foreign Investment in the United States ("CFIUS"), representing one of the more important regulatory approvals required as a condition to close the previously announced merger of the two companies. With this key regulatory approval and the previously announced RADA shareholder approval, closing of the transaction is now expected to occur at the end of November or beginning of December, subject to remaining regulatory approvals. Upon closing of the merger,

 On October 19, 2022, RADA Electronic Industries Ltd. (the "Company") held an Extraordinary General Meeting of Shareholders (the "Meeting") at the Company's offices located at 7 Giborei Israel Street, Netanya, Israel.   At the Meeting, the following resolutions were adopted as follows: The approval and adoption of the Agreement and Plan of Merger, dated as of June 21, 2022 (the "Merger Agreement"), by and among Leonardo DRS, Inc. ("DRS"), RADA and Blackstart Ltd, a company organized under the laws of the State of Israel and a wholly owned subsidiary of DRS ("Merger Sub"); (ii) the merger contemplated by the merger agreement (the "Merger"), by which Merger Sub will be merged with and into

Leonardo DRS, Inc. ("DRS") announced today that it has received a contract to produce its next-generation thermal weapon sights for the U.S. Army. The firm-fixed-price contract from the U.S. Army Contracting Command is valued at $579 million over five years. The Leonardo DRS Electro-Optical Infrared Systems (EOIS) business will produce advanced Family of Weapons Sights – Individual (FWS-I) systems for its U.S. Army customer. Using DRS' uncooled thermal imaging technology, FWS-I is a stand-alone, clip-on weapon sight that connects wirelessly to helmet-mounted vision systems including the enhanced night vision goggle binoculars (ENVG-B) and the next-gen integrated visual augmentation system (

On CNBC’s "Mad Money Lightning Round," Jim Cramer said Rada Electronic Industries Ltd (NASDAQ:RADA) is "way too expensive." He added, "I’m sorry, I can’t endorse it." When asked about Stem Inc (NYSE:STEM), Cramer said, "A company that does not make a lot of money with a high stock in an era when the Fed wants to crunch inflation is not a stock you can own." The "Mad Money" host said he is not going to recommend Annaly Capital Management Inc (NYSE:NLY). Cramer recommended selling Enovix Corp (NASDAQ:ENVX) as it "costs too much money." He recommended not buying Wolfspeed Inc (NYSE:WOLF) as the stock doesn’t make money.

Leonardo DRS, Inc.(DRS) announced today that it has received contracts to provide its advanced thermal weapon sights for the Swedish Ministry of Defense (MOD). The firm-fixed-price contracts are worth approximately $50 million. The DRS Electro-Optical Infrared Systems (EOIS) business will provide more than 4,600 thermal weapon sights including Individual Weapon Sight (IWS) and Individual Weapon Sight- Long Range (IWSLR) variants. The DRS EOIS production team in Melbourne FL, delivered over 1100 weapons sights to the Swedish Ministry of Defense within 30 days of contract receipt. The IWS family provides the ability to acquire targets day or night and in smoke or fog and gives the operator b

RADA Electronic Industries Ltd (NASDAQ:RADA) reported a second-quarter revenue decline of 18.4% year-over-year to $23.06 million, missing the consensus of $29.13 million. Gross profit declined by 29.2% to $7.98 million, and margin contracted by 527 bps to 34.6%. EPS was $(0.09), down from $0.20 in 2Q21. RADA recorded an operating loss of $(3.02) million, compared to a profit of $4.5 million a year ago. Also Read: RADA Agrees To All-Stock Merger With Leonardo DRS Dov Sella, RADA's Chief Executive Officer, commented, "the pending merger with U.S.-based DRS is proceeding as planned, and we are actively working to identify top-line synergies within our businesses to actualize post-merger