RADA Announces $10 Million in New Orders since mid-July 2020

NETANYA, Israel, Sept. 14, 2020

Out of the $10 million new orders, 70% were for RADA's growth-engine, software-defined tactical radars, for counter UAV and counter fires (C-RAM). Most of the new radar orders were follow-ons from existing customers. Deliveries of these orders are planned to be concluded within the next six months. The rest of the orders were for digital video recorders and debriefing stations for fighter aircraft, along with maintenance orders for RADA's avionics installed base.

RADA reiterates its recently increased guidance for 2020, provided on August 11, 2020, with revenues expected to grow to over $70 million and representing an increase of over 58% year-over-year.

Dov Sella, RADA's CEO, commented, "We are very satisfied with the continuous growth of new orders. We expect that by year-end this sustained growth rate of new orders will establish significant backlog for 2021. While our radars' business is growing at a significant rate, the repeated orders for avionics from our loyal customer base also ensure stability of this business of ours. We reiterate our expectations of sequential quarterly growth and growing operating profit throughout the remainder of 2020 and into 2021."

About RADA

RADA is a global defense technology company focused on proprietary radar solutions and legacy avionics systems. The Company is a leader in mini-tactical radars, serving attractive, high-growth markets, including critical infrastructure protection, border surveillance, active military protection and counter-drone applications.

Company Contact: ARIVA.DE Börsen-Geflüster Kurse Rada Electronic Industries -   0,00% Avi Israel (CFO) Tel: +972-9-892-1111        mrkt@rada.com www.rada.com

Investor Relations Contact: GK Investor Relations Ehud Helft Tel: 1 646 201 9246 rada@gkir.com

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SOURCE RADA