RADA Electronic Industries Announces Record Fourth Quarter and Full Year 2019 Results
RADA Electronic Industries Ltd. - Ordinary Shares (RADA)
US:NASDAQ Investor Relations:
rada.com/corp/corporate-ir.html
Company Research
Source: GlobeNewswire
NETANYA, Israel, March 10, 2020 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ: RADA) announced today its financial results for the year and quarter, ended December 31, 2019. Highlights of 2019 Record revenues of $44.3 million up 58% year-over-year;Full year gross margin of 36%;Net loss of $2.0 million and positive EBITDA of $0.4 million; Year-end net cash position of $13.8 million; secondary offering in January 2020 adds an additional $23.5 million to the cash position. Management Comment Dov Sella, RADA's Chief Executive Officer commented, “We are exceptionally pleased with our performance in 2019, growing our top line by 58% to an all-time record of $44.3 million. Furthermore, even while making the significant investments in our infrastructure and in establishing a new production line and a presence in the United States, our EBITDA was positive in the second half of the year.” Continued Mr. Sella, “Our strong order momentum since m
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