RADA Electronic Industries (RADA) Announces Receipt of $1.1M MHR Order from Key Customer
- Nasdaq hits record; bank earnings validate Wall St. rally
- Intrawest Resorts (SNOW) Exploring a Possible Sale - Reuters
- Alibaba (BABA) Has No Plans to Acquire Rest of Groupon (GRPN) - Source
- Time (TIME) Said to Soon Begin Discussions with Interested Buyers - Bloomberg
- JPMorgan (JPM) Reports Q4 EPS of $1.71
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
RADA Electronic Industries Ltd. (Nasdaq: RADA) announced that it has received initial purchase orders to provide its advanced Multi-Mission Hemispheric Radars (MHR) to a highly strategic Asian customer. The value of these orders are over $1.1 million, and deliveries are expected to be completed within the first half of 2017.
The customer has placed initial orders with RADA for operational evaluation of the radars and immediate gap filling. The market potential for such tactical radars to this customer is expected to be very significant.
The orders are for various operational applications, which demonstrate the range of missions and flexibility of RADA's radar technology: detection of fires, drones, surface targets, and combinations of these missions. RADA’s MHR radar platform is technologically advanced using an S-band, software-defined, Pulse-Doppler radar with active electronically scanned array (AESA) antenna and the most advanced GaN amplifiers. These compact, multi-mission radars offer an unprecedented performance-to-price ratio and are ideal solutions for force and border protection needs.
Dov Sella, RADA's CEO, commented: "We have invested years of focused marketing activity and demonstrations to this highly valued customer. We are very pleased that our efforts have come to fruition with the receipt of these initial orders. We anticipate that the ongoing near-term usage of our radars will more than prove their viability to the customer, and will pave the way for significant future orders".
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Norwood Financial Corp (NWFL) Names William Davis, Jr. as Chairman of the Board
- Vail Resorts (MTN) Reports Season-to-Date Ski Season Metrics
- Prologis (PLD) Plans to Consolidates Two European Funds
Create E-mail Alert Related CategoriesCorporate News, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!