Rada Electronic Clocks 36% Revenue Growth In Q4

Rada Electronic Industries Ltd RADA reported fourth-quarter FY21 sales growth of 36% year-on-year, to $31.76 million, beating the analyst consensus of $31.60 million.
EPS of $0.11 missed the analyst consensus of $0.12.
The gross margin for the quarter expanded 200 basis points Y/Y to 41%, and the gross profit rose 45% Y/Y to $13.06 million.
The operating margin was 18.9%, and operating income for the quarter more than doubled to $6 million.
Adjusted EBITDA was $8.0 million, with the margin at 25% versus 17% last year.
The company held $78.8 million in cash and equivalents as of December 31, 2021.
"As our guidance implies, we expect strong revenue growth to continue into 2022 and accelerate thereafter with our forecast to organically reach $250 million in three to four years," said CEO Dov Sella.
Price Action: RADA shares are trading lower by 0.20% at $10.20 in premarket on the last check Wednesday.