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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Rada Electronics Industries Limited | NASDAQ:RADA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 9.87 | 10.00 | 9.38 | 0 | 01:00:00 |
99.1
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Press Release: RADA Electronic Industries Announces Third Quarter and First Nine Months 2014 Results dated November 28, 2014
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Rada Electronic Industries Ltd.
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(Registrant)
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By: /s/Herzle Bodinger
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Herzle Bodinger
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President and Chairman
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EXHIBIT NO.
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DESCRIPTION
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99.1
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Press Release: RADA Electronic Industries Announces Third Quarter and First Nine Months 2014 Results dated November 28, 2014
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September 30, 2014
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December 31, 2013
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Unaudited
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Audited
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ASSETS
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CURRENT ASSETS:
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Cash and cash equivalents
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$ | 2,235 | $ | 2,137 | ||||
Restricted cash
|
453 | 1,033 | ||||||
Trade receivables (net of allowance for doubtful accounts of $ 23 and $ 36 at September 30, 2014 and at December 31, 2013 respectively)
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2,818 | 4,890 | ||||||
Costs and estimated earnings in excess of billings on uncompleted contracts
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1,966 | 2,031 | ||||||
Other accounts receivables and prepaid expenses
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572 | 412 | ||||||
Inventories
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7,876 | 6,798 | ||||||
Total current assets
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15,920 | 17,301 | ||||||
LONG-TERM RECEIVABLES AND OTHER DEPOSITS
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1,290 | 1,133 | ||||||
PROPERTY, PLANT AND EQUIPMENT, NET
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2,841 | 2,986 | ||||||
OTHER ASSET - GOODWILL
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587 | 587 | ||||||
Total assets
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20,638 | $ | 22,007 | |||||
LIABILITIES AND SHAREHOLDERS' EQUITY
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CURRENT LIABILITIES:
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Bank credit
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$ | 1,573 | $ | 1,887 | ||||
Trade payables
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1,661 | 2,909 | ||||||
Convertible note from a shareholder
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3,000 | 3,000 | ||||||
Loans from shareholders, net
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5,120 | 5,307 | ||||||
Other accounts payable and accrued expenses
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4,304 | 4,350 | ||||||
Total current liabilities
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15,658 | 17,453 | ||||||
LONG-TERM LIABILITIES:
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Accrued severance pay and other long term liability
|
692 | 569 | ||||||
Total long-term liabilities
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692 | 569 | ||||||
RADA SHAREHOLDERS' EQUITY
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Share capital -
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Ordinary shares of NIS 0.015 par value - Authorized: 16,333,333 shares at September 30, 2014 and December 31, 2013; Issued and outstanding: 8,988,396 at September 30, 2013 and 8,918,647 at December 31, 2013 respectively.
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119 | 119 | ||||||
Additional paid-in capital
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70,884 | 70,884 | ||||||
Accumulated other comprehensive income
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527 | 547 | ||||||
Accumulated deficit
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(67,860 | ) | (68,200 | ) | ||||
Total RADA shareholders’ equity
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3,670 | 3,350 | ||||||
Non-controlling interest
|
618 | 635 | ||||||
Total equity
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4,288 | 3,985 | ||||||
Total liabilities and equity
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20,638 | $ | 22,007 |
Nine months
ended Sep 30,
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Three months
ended
SEP 30,
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Year ended
December 31,
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(Unaudited) | Audited | |||||||||||||||||||
Revenues
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$ | 16,602 | $ | 15,045 | $ | 4,818 | $ | 4,453 | $ | 21,761 | ||||||||||
Cost of revenues
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11,638 | 12,523 | 3,509 | 3,560 | 17,160 | |||||||||||||||
Gross profit
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4,964 | 2,522 | 1,309 | 893 | 4,601 | |||||||||||||||
Operating expenses:
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Research and development
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566 | 1,082 | 187 | 266 | 1,459 | |||||||||||||||
Marketing and selling
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1,733 | 1,290 | 526 | 305 | 1,959 | |||||||||||||||
General and administrative
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1,484 | 1,441 | 503 | 435 | 1,919 | |||||||||||||||
Total operating expenses:
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3,783 | 3,813 | 1,216 | 1,006 | 5,337 | |||||||||||||||
Operating Income (loss)
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1,181 | (1,291 | ) | 93 | (113 | ) | (736 | ) | ||||||||||||
Financial expense, net
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855 | 1,404 | 299 | 471 | 1,907 | |||||||||||||||
Consolidated Income (loss)
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326 | (2,695 | ) | (206 | ) | (584 | ) | (2,643 | ) | |||||||||||
Less: Net loss attributable to Non-controlling interest
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12 | 20 | 4 | 7 | 8 | |||||||||||||||
Income (Loss) attributable to RADA shareholders | $ | 338 | $ | (2,675 | ) | $ | (202 | ) | $ | (576 | ) | $ | (2,635 | ) | ||||||
Income (Loss) per share:
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Basic and diluted loss per share
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$ | 0.04 | $ | (0.3 | ) | $ | (0.02 | ) | $ | (0.06 | ) | $ | (0.30 | ) | ||||||
Weighted average number of Ordinary shares used for computing basic and diluted loss per share
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8,988,396 | 8,918,647 | 8,988,396 | 8,918,647 | 8,918,647 |
1 Year Rada Electronics Industr... Chart |
1 Month Rada Electronics Industr... Chart |
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