This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

RADA Electronic Industries Announces Third Quarter And First Nine Months 2012 Results

Stocks in this article: RADA

NETANYA, Israel, Dec. 10, 2012 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (Nasdaq:RADA) today announced its financial results for the third quarter and first nine months ended Sep 30, 2012.

201 2 third quarter Results

Revenues increased 85% to $6.3 million in 2012 third quarter compared with $3.4 million in 2011 third quarter.

Gross Profit increased 323% to $1.27 million in 2012 third quarter, compared with $0.3 million in 2011 third quarter.

Operating expenses increased 3% to $1.7 million in 2012 third quarter.

Financial Expenses increased to $250,000 in 2012 third quarter, compared with financial expenses of $175,000 in 2011 third quarter.

As a result, the Company reported a net loss of $648,000, or $0.07 per share, for 2012 third quarter compared to a net loss of $1.5 million or $0.17 per share, for 2011 third quarter.

First nine months 2012 Results

Revenues totaled $15 million for 2012 first nine months, an 11% decrease when compared with $16.9 million for the same period in 2011.

Gross profit totaled $3.8 million for 2012 first nine months, a 19% decrease when compared with $4.7 million for the same period in 2011.

Operating expenses totaled $4.8 million 2012 the first nine months, a 9% decrease when compared with $5.3 million for the same period in 2011

Financial expenses totaled $749,000 for 2012 first nine months compared with financial expenses of $358,000 for the same period in 2011.

As a result, the Company reported a net loss of $1.8 million, or $0.20 per share, for the nine months ended Sep 30, 2012, compared with net loss of $971,000, or $0.11 per share, for the comparable period in 2011.

Management Comment

Commenting on the results, Zvika Alon, RADA's Chief Executive Officer said, "The increase in revenues during this quarter compared to 2012 second quarter as well as 2011 third quarter is the result of the first of two delayed major programs 'coming back on track.' We believe the second program will resume full pace during the fourth quarter of 2012. In the third quarter we also succeeded in increasing our gross margin to 20%, compared to 10% during the third quarter of 2011. Our R&D investment during this quarter remained high and we are progressing as planned with the development of our inertial navigation and tactical radar products. Our tactical radar products are being continuously demonstrated to increasing number of potential customers, and have recently been the highlight of our presentation in the Association of the US Army annual conference in Washington DC during October 2012. We hope to secure our first order for our tactical radar products in the first half of 2013."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs