RADA Electronic Industries (RADA) Reports Q1 Loss of $0.12/Share

RADA Electronic Industries (NASDAQ: RADA) reported Q1 EPS of ($0.12), versus ($0.09) reported last year. Revenue for the quarter came in at $2.6 million, versus $3.6 million reported last year.

RADA announced that its Board of Directors has approved the nomination of Mr. Yossi Ben-Shalom as the Chairman of the Board, replacing Gen. Herzle Bodinger, who will remain a board member and was appointed as president of the company.

RADA’s Board of Directors exercised its option to obtain a $3.2 million loan from DBSI Investments Ltd ("DBSI"), whose Managing Partners are Mr. Ben-Shalom and Mr. Barak Dotan. The loan will replace an existing loan from RADA’s previous major shareholder. The terms of the new loan, which is expected to be funded shortly, has more favorable terms than the loan it replaces.

For earnings history and earnings-related data on RADA Electronic Industries (RADA) click here.

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