RADA Electronic Industries (RADA) Reports Q3 Revenues Beat; Lifts FY18 Revenue Guidance Above Consensus

RADA Electronic Industries (NASDAQ: RADA) reported Q3 EPS of $0.00, versus $0.03 reported last year. Revenue for the quarter came in at $7.05 million versus the consensus estimate of $6.93 million.

Dov Sella, RADA's Chief Executive Officer commented, “2018 represents a year of solid progress for RADA, globally and also in the United States where we established and continue to invest in our presence and capabilities this year. We have already built positive momentum, winning some highly strategic initial orders with key customers, as well as some early follow-on orders from certain of those customers. Looking out over the coming quarters, we believe that follow-on orders will dominate, with significant potential over the initial orders. We expect to see the fruits of our investments to truly begin to accrue to RADA, next year and beyond.”

Continued Mr. Sella, “From a revenue perspective, 2018 has been strong and based on our increased guidance of $30 million which we are announcing today, we will end the year with record revenue, up around 15% over those of last year, one of the strongest years ever for RADA. Furthermore, we achieved last year’s record revenue on the back of one specific large order, while in 2018 our revenue base is much more diversified. 2018 has shaped up to be a very good year for RADA, but our real excitement is as we begin to realize on our significant potential in 2019 and beyond,” concluded Mr. Sella.

GUIDANCE:

Meritor sees FY2018 revenue of $30 million, versus the consensus of $27 million.

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

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