RADA ELECTRONIC INDUSTRIES LTD.

(RADA)
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Delayed Nasdaq  -  04:00 2022-08-12 pm EDT
11.19 USD   +1.73%
08/08RADA ELECTRONIC INDUSTRIES : Schedules Second Quarter 2022 Results Release & Conference Call on Wednesday, August 17, 2022 - Form 6-K
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08/08RADA Schedules Second Quarter 2022 Results Release & Conference Call on Wednesday, August 17, 2022
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08/03RADA ELECTRONIC INDUSTRIES : Filing of a Form S-4 by Leonardo DRS, Inc - Form 6-K
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Rada Electronic Shares Tumble Premarket on Revenue Miss

07/06/2022 | 04:44am EDT

By Colin Kellaher


Shares of Rada Electronic Industries Ltd. fell more than 10% in premarket trading Wednesday after the provider of tactical radars said its second-quarter revenue would fall well short of expectations.

The Netanya, Israel, company said it expects to report quarterly revenue of about $22.5 million to $59.4 million, well below the $85 million to $95 million it forecast in May and the $88.5 million analysts polled by FactSet, on average, were expecting.

Rada said it is still feeling the effects of the U.S. budget delay and the resulting U.S. continuing-resolution pause earlier this year, with orders coming slower than originally planned.

The company, which last month agreed to be acquired by a unit of Italy's Leonardo SpA, said it is pulling its full-year revenue guidance in light of the pending deal.

Rada shares, which closed Tuesday at $9.04, were recently down 10.4% to $8.10 in premarket trading.


Write to Colin Kellaher at colin.kellaher@wsj.com


(END) Dow Jones Newswires

07-06-22 0644ET

Stocks mentioned in the article
ChangeLast1st jan.
LEONARDO S.P.A. -1.46% 8.926 Delayed Quote.41.68%
RADA ELECTRONIC INDUSTRIES LTD. 1.73% 11.19 Delayed Quote.18.79%
All news about RADA ELECTRONIC INDUSTRIES LTD.
08/08RADA ELECTRONIC INDUSTRIES : Schedules Second Quarter 2022 Results Release & Conference Ca..
PU
08/08RADA Schedules Second Quarter 2022 Results Release & Conference Call on Wednesday, Augu..
AQ
08/03RADA ELECTRONIC INDUSTRIES : Filing of a Form S-4 by Leonardo DRS, Inc - Form 6-K
PU
08/03RADA reports Filing of a Form S-4 by Leonardo DRS, Inc.
AQ
08/01RADA ELECTRONIC INDUSTRIES : & Leonardo DRS to Participate in Upcoming Jeffries and Canacc..
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08/01Leonardo DRS and RADA Announce Upcoming Conference Participation
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08/01RADA ELECTRONIC INDUSTRIES : Leonardo DRS and RADA Announce Upcoming Conference Participat..
PU
08/01Leonardo DRS and RADA Announce Upcoming Conference Participation
AQ
07/14RADA ELECTRONIC INDUSTRIES : ANNOUNCES RESULTS OF ANNUAL MEETING - Form 6-K
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07/14RADA ELECTRONIC INDUSTRIES : 6-K announces results of June 14 2022 AGM
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Financials (USD)
Sales 2022 128 M - -
Net income 2022 19,1 M - -
Net Debt 2022 - - -
P/E ratio 2022 29,4x
Yield 2022 -
Capitalization 556 M 556 M -
Capi. / Sales 2022 4,34x
Capi. / Sales 2023 3,35x
Nbr of Employees 308
Free-Float 89,3%
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Mean consensus BUY
Number of Analysts 4
Last Close Price 11,19 $
Average target price 14,67 $
Spread / Average Target 31,1%
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Managers and Directors
Dov Sella Chief Executive Officer
Avi Israel Chief Financial Officer
Yossi Ben-Shalom Executive Chairman
Oleg Kiperman Chief Technology Officer
Yaniv Dorani Chief Operating Officer