Rada wins $12m radar orders

RADA radar Photo: PR
RADA radar Photo: PR

The Israeli defense company's orders since early August have totalled $24.6 million.

Israeli defense company Rada Electronic Industries Ltd. (Nasdaq: RADA) today reported new orders amounting to $12 million. It appears that the company is continuing its momentum in recent months; it has announced orders totaling $24.5 million since early August (including those announced today).

The tactical radar for land forces that RADA manufactures are its main growth engine, but the company also provides avionics solutions. More than $5 million of the orders reported by the company today are for its C-RAM software-based radar for protection against mortar shells, missiles, and artillery; counter-UAV systems; and SHORAD short-range air defense. The company says that most of the orders were received from new strategic customers, with potential for follow-on orders. The remaining orders that are not for tactical radar are follow-on orders for RADA's avionics products, including UAV systems.

RADA CEO Dov Sella says, "As these orders indicate, our avionics activity remains stable and profitable. The orders we received give us confidence that this activity will remain stable in the coming years. Beyond that, our growth engine, the software-based radar sector, is still gathering steam, including new initial orders with significant future potential obtained from strategic customers. Furthermore, we see that new customers we started working with at the beginning of the year are starting to make follow-on orders. I again emphasize that our tactical radar market is still in an initial growth phase and we see that it is gaining momentum. We believe that our leading position in the tactical radar market for land forces will produce results in the near future."

RADA's market cap is $92 million. Its controlling shareholder is the DBSI private investments fund, controlled by Yossi Ben-Shalom and Barak Dotan, which currently holds 27% of RADA's shares. DBSI first invested in RADA in 2016, investing a few million dollars when RADA had liquidity problems and its market cap was only $6 million. After the share price shot up in the ensuing months, DBSI sold off some of its holdings at a handsome profit.

Published by Globes, Israel business news - en.globes.co.il - on November 12, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

RADA radar Photo: PR
RADA radar Photo: PR
Orit Strook  credit: Marc Israel Sellem/The Jerusalem Post Finance C'ttee approves NIS 300m coalition funds distribution

The money will mainly go to Religious Zionist party minister Orit Strook's Ministry of Settlements and National Missions.

Dangoor Academy  credit: British Embassy in Tel Aviv British Embassy showcases Israeli healthcare startups

The nine startups participated in the Dangoor HealthTech Academy, a program that connects Israeli startups with the UK healthcare system.

NextVision Stabilized Systems  credit: Shlomi Yosef/Tali Bogdanovsky Next Vision shareholders make NIS 230m exit

A British hedge fund has bought a 2.5% stake in the stabilized cameras company.

Energean CEO Mathios Rigas at the Israel Business Conference   credit: Shlomi Yosef Energean's $1b gas fields sale at risk

The sale of the energy company's asset portfolio in Egypt, Italy and Croatia may fall through because of the buyer's difficulties with the Italian regulator.

Kela Technologies founders Jason Manne, Hamutal Meridor, Alon Dror and Omer Bar Ilan  credit:  Yosef Haim Alterman Defense tech co Kela raises $39m

In response to the events of October 7, Kela has developed a platform for rapid integration of commercial technologies into military systems.

Benjamin Netanyahu  credit: ‎Alex Kolomoisky, Yediot Aharonot Firing the Shin Bet chief: The hurdles

Prime Minister Benjamin Netanyahu says he has "lost trust" in Shin Bet head Ronen Bar. Will this be enough to overcome legal challenges to his dismissal?

Emiliano Calemzuk  credit: PR CEO and "investor group" buying out Reshet 13

CEO Emiliano Calemzuk and the other investors will hold 74% of the television channel, while Len Blavatnik’s Access Industries and WBD will remain with 26%.

Inflation  credit: Tali Bogdanovsky Unexpectedly low February CPI reading cuts inflation

While inflation in Israel in the 12 months to the end of February 2025 is lower than forecast, housing prices continue to rise.

Yitzhak Tshuva credit: Gidon Levy and Tali Bogdanovsky Competition Authority allows Delek takeover of Isracard

The Competition Authority is considered the easier of the two regulatory hurdles that the deal must overcome, the other being the Supervisor of Banks.

David Amsalem  credit  Noam Moskowitz, Knesset Spokesperson's Office Rafael to pay state NIS 444m dividend

The minister in charge of the Government Companies Authority, David Amsalem, has approved the payment by the defense company.

Barak MX air defense system  credit: IAI IAI profit jumps 55%

Israel Aerospace Industries posted a net profit of $493 million for 2024, and ended the year with an all-time high orders backlog of $25 billion.

A TSG system in tactical use  credit: PR TSG signs cooperation agreement with US defense co

The agreement includes the integration of TSG's advanced technologies into sensor-based defense systems, which will be integrated into the operational systems of US defense units.

Bria CEO Yair Adato credit: Kseniia Poliak Israeli visual generative AI co Bria raises $40m

Bria’s Visual Generative AI platform empowers businesses to create predictable, controllable, and on-brand content that aligns with their visual language.

Amnon Shashua and Aviram Ziv credit: Eyal Izhar OrCam stymied by investor dispute with Shashua

Demands by institutional investors are blocking the visual and hearing impairment device developer's recovery plan.

Work on the Green Line credit: Bar Lavi Egged wins tender to operate TA light rail Purple, Green Lines

NTA awarded the tender to Egged, which already operates the Red Line, despite government ministry opposition to one operator for the entire network.

Gabi Seroussi illustration: Gil Gibli Board chooses Seroussi as IAI chair as Erdan freezes candidacy

Israel Aerospace Industries board chose Gabi Seroussi as chair even though he did not to go through the preliminary process of the Government Companies Authority appointments review committee.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018