RADA wins $3 million Order for Advanced Recorders Program

New orders for RADAs recorders and avionics during the past few months have totaled $10 million

GlobeNewswire 15-Feb-2018 9:16 AM

NETANYA, Israel, Feb. 15, 2018 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd.(Nasdaq:RADA) announced today that RADAs avionics business has won a first $3 million order for its cutting-edge, full-HD Digital Video Recorders (HD-DVR) for advanced trainer aircraft.

The HD-DVR implements recordings of multiple digital video channels, enabling high bandwidth, low latency, uncompressed digital video recording and playback. This advanced recorder, which is in the forefront of recording and debriefing technology for fighters and trainer aircraft, is currently being considered by several other aircraft manufacturers, to be incorporated in fighters and trainers having full digital cockpit displays.

Including this new order, orders for RADAs Avionics business during the past few months have amounted to $10 million. The vast majority of these orders are expected to be delivered during 2018.

Dov Sella, RADAs CEO, commented, "While our Radar business is the growth engine of our Company with year-over-year revenues more than doubling in 2017, we are also pleased with the recent performance of our avionics business. This first order for our most advanced HD-DVR along with our current pipeline for these advanced recorders, give us increased confidence in the long-term stability of the avionics business. This, combined with ongoing growth from our software-defined, AESA tactical radars, as the market for these products continues to develop, gives us increased confidence for the years ahead.

About RADA

RADA Electronic Industries Ltd. is an Israel-based defense electronics contractor. The Company specializes in the development, production, and sales of Tactical Land Radars for Force and Border Protection and Avionics Systems (including Inertial Navigation Systems) for fighter aircraft and UAVs.

Company Contact:Gil Schwartz (VP, BD & Marketing)Tel: +972-9-892-1111 mrkt@rada.comwww.rada.com Investor Relations Contact:GK Investor RelationsEhud Helft, PartnerTel: 1 617 318 3096ehud@gkir.com

Source: RADA Electronic Industries Ltd.

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