RADA Reaches $56M New Orders In First Half; Backs FY21 Revenue Outlook

Rada Electronics Industries Ltd RADA bagged $32 million of new orders in the Q2 of 2021.
The total amount of new orders in the first half of 2021 was $56 million representing 37% year-over-year growth.
The majority of the new orders are likely to be delivered during the second half of 2021.
Around 91% of the first-half's orders cater to RADA's software-defined tactical radars for counter UAVs, short-range air defense (SHORAD), and counter fires (C-RAM).
The U.S. accounted for 64% of the radar orders, while the rest of the world generated 27%.
RADA's legacy avionics products accounted for the remaining.
Outlook: Rada reiterated its FY21 revenue guidance of over $120 million versus analysts' estimate of $122.40 million.
The company expects its growth momentum to continue into 2022.
Price action: RADA shares traded higher by 6.13% at $12.30 in the premarket session on the last check Tuesday.