Rada, which develops tactical radars shows it's stock soared 30 percent

Rada, which develops tactical radars, is showing record results after its stock soared 30 percent since the beginning of 2021, and 480 percent since the March slump. Per share, compared to a loss of $ 295,000 in the same quarter in 2019 - one cent per share.
Rada's revenue grew 62% in the fourth quarter of 2020 compared to the same quarter in 2019, and peaked at $ 23 million. Rada's revenues increased by 72% in the whole of 2020 compared to 2019 and amounted to $ 76 million, $ 1 million higher than the forecast that Rada provided to the market.
Rada develops radars to detect and neutralize threats such as skimmers, anti-tank missiles and other armored vehicles; as well as surface-to-air missiles and mortar shells. Armored combat vehicle in the US, Israel and the Netherlands.
Rada's gross profit increased by 76% in the fourth quarter of 2020 compared to the same quarter in 2019, and amounted to $ 9 million, which is 38.5% of turnover - compared to 35.6% of turnover in the corresponding quarter. The strong growth in revenue and gross profit moved Rada to an operating profit of $ 2.8 million, which is 11.0% of turnover, compared to an operating loss of $ 209,000 in parallel in 2019.
The company signed a memorandum of understanding to acquire 12% of the Israeli start-up RADSee Technologies - which deals with advanced radar technologies for the existing and autonomous commercial vehicle market - for $ 3 million.
According to Sela, there are many technological synergies in the investment, and potential for expanding Rada's target markets in the future. Sela noted that Rada has been given an option to increase its holdings in RADSee, when it is realized that the company's technological solution is due and the market potential is realized. According to him, Rada will at this point be a minority shareholder in the start-up, and will be able to continue with the great growth potential in its current core business.