Releases guidance for 2019: expecting revenues to exceed $40 million
For 2018, full year revenues of $28 million expected
NETANYA, Israel, Feb. 04, 2019 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (Nasdaq: RADA) announced that it would be releasing its financial results for the fourth quarter of 2018 on Wednesday, March 20, 2019.
The Company will host a conference call on the same day, starting at 10:00 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:||1-888-668-9141||at 10:00 am Eastern Time|
|UK:||0-800-917-5108||at 2:00 pm UK Time|
|Israel:||03-918-0609||at 4:00 pm Israel Time|
RADA’s management also provided a guidance update for 2018 and 2019. Due to logistical issues in the US towards year-end 2018, approximately $2.5 million of deliveries to the USA, which were ready for delivery by year-end, were delayed and are expected to be delivered during the first quarter of 2019.
Subsequently, 2018 revenues are expected to be in excess of $28 million, while 2019 revenues are expected to exceed $40 million, approximately 43% higher.
RADA Electronic Industries Ltd. is an Israel-based defense electronics contractor. The Company specializes in the development, production, and sales of Tactical Land Radars for the maneuver Forces & Border Protection and Avionics Systems (including Inertial Navigation Systems) for fighter aircraft and UAVs.
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such risk uncertainties and other factors include, but are not limited to, changes in general economic conditions, risks in product and technology developments, market acceptance of new products and continuing product demand, level of competition and other factors described in the Company's Annual Report on Form 20-F and other filings with the Securities and Exchange Commission.