The company has received orders for digital recorders and cameras.
Defense technology company RADA Electronic Industries (Nasdaq: RADA) has won a $6.2 million contract to supply its airborne video and data recording system to an unnamed fighter aircraft maker as part of an upgrade package to one of its leading aircraft. The company will also supply its HUD Cameras as part of this upgrade. RADA said the adaptation phase will be performed during 2009. Deliveries will commence from 2009 through 2012, in accordance with the aircraft modification schedule
RADA president and CEO Zvi Alon said, "This is one of the most significant programs for the company in recent years, and affects the company backlog for a few years to come. This agreement reinforces the confidence of the market in RADA's advanced recording solutions".
RADA specializes in avionics systems digital video recorders, ground debriefing stations, mission computers, and flight data recorders. The company's share closed at $1.60 on Nasdaq yesterday, giving a market cap of $14.2 million.
Published by Globes [online], Israel business news - www.globes-online.com - on September 23, 2008
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