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Benzinga
Benzinga
Business
Shivani Kumaresan

Rada Electronic Clocks 36% Revenue Growth In Q4

  • Rada Electronic Industries Ltd (NASDAQ:RADA) reported fourth-quarter FY21 sales growth of 36% year-on-year, to $31.76 million, beating the analyst consensus of $31.60 million.
  • EPS of $0.11 missed the analyst consensus of $0.12.
  • The gross margin for the quarter expanded 200 basis points Y/Y to 41%, and the gross profit rose 45% Y/Y to $13.06 million.
  • The operating margin was 18.9%, and operating income for the quarter more than doubled to $6 million.
  • Adjusted EBITDA was $8.0 million, with the margin at 25% versus 17% last year.
  • The company held $78.8 million in cash and equivalents as of December 31, 2021.
  • "As our guidance implies, we expect strong revenue growth to continue into 2022 and accelerate thereafter with our forecast to organically reach $250 million in three to four years," said CEO Dov Sella.
  • Price Action: RADA shares are trading lower by 0.20% at $10.20 in premarket on the last check Wednesday.
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