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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 2015 First Quarter Results dated May 26, 2015
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Rada Electronic Industries Ltd.
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(Registrant)
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By: /s/Zvi Alon
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Zvi Alon
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Chief Executive Officer
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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 2015 First Quarter Results dated May 26, 2015
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March 31, 2015
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December 31, 2014
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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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$ | 1,880 | $ | 1,786 | ||||
Restricted cash
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349 | 349 | ||||||
Trade receivables (net of allowance for doubtful accounts of $ 10 and $ 24 at March 31, 2015 and at December 31, 2014 respectively)
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3,467 | 3,455 | ||||||
Costs and estimated earnings in excess of billings on uncompleted contracts
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2,317 | 2,657 | ||||||
Other receivables and prepaid expenses
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468 | 428 | ||||||
Inventories
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6,810 | 6,651 | ||||||
Total current assets
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15,291 | 15,326 | ||||||
LONG-TERM RECEIVABLES AND OTHER DEPOSITS
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1,388 | 1,394 | ||||||
PROPERTY, PLANT AND EQUIPMENT, NET
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2,912 | 2,790 | ||||||
GOODWILL
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587 | 587 | ||||||
Total assets
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$ | 20,178 | $ | 20,097 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY
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CURRENT LIABILITIES:
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Bank Credit
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$ | 2,212 | $ | 1,589 | ||||
Trade payables
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1,665 | 1,315 | ||||||
Convertible note and Loans from shareholders, net
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8,120 | 8,120 | ||||||
Other accounts payable and accrued expenses
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4,149 | 4,267 | ||||||
Total current liabilities
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16,146 | 15,291 | ||||||
LONG-TERM LIABILITIES:
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Accrued severance pay and other long term liability
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636 | 634 | ||||||
Total long-term liabilities
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636 | 634 | ||||||
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 March 31, 2015 and December 31, 2014;
Issued and outstanding: 8,988,396 at March 31, 2015 and at December 31, 2014 respectively. |
119 | 119 | ||||||
Additional paid-in capital
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70,884 | 70,884 | ||||||
Accumulated other comprehensive income
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546 | 536 | ||||||
Accumulated deficit
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(68,769 | ) | (67,992 | ) | ||||
Total RADA shareholders’ equity
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2,780 | 3,547 | ||||||
Non-controlling interest
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616 | 625 | ||||||
Total equity
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3,396 | 4,172 | ||||||
Total liabilities and equity
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$ | 20,178 | $ | 20,097 |
Three Months ended March 31, | Year ended December 31, | |||||||||||
2015 | 2014 | 2014 | ||||||||||
Unaudited | (audited) | |||||||||||
Revenues
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$ | 3,648 | $ | 5,347 | $ | 22,481 | ||||||
Cost of revenues
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3,013 | 3,733 | 15,944 | |||||||||
Gross profit
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635 | 1,614 | 6,537 | |||||||||
Operating expenses:
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Research and development
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171 | 230 | 789 | |||||||||
Marketing and selling
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530 | 470 | 2,392 | |||||||||
General and administrative
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392 | 467 | 1,901 | |||||||||
Total operating expenses
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1,093 | 1,167 | 5,082 | |||||||||
Operating income (loss)
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(458 | ) | 447 | 1,455 | ||||||||
Financial expenses, net
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330 | 293 | 1,254 | |||||||||
Net income (loss)
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(788 | ) | 154 | 201 | ||||||||
Less: loss attributable to Non-controlling interest
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11 | 4 | 7 | |||||||||
Net income (loss) attributable to RADA Electronic Industries’ shareholders
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$ | (777 | ) | $ | 158 | $ | 208 | |||||
Basic and diluted net earnings (loss) per share
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$ | (0.09 | ) | $ | 0.02 | $ | 0.02 | |||||
Weighted average number of Ordinary shares used for computing basic and diluted net earnings (loss) per share
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8,988,396 | 8,918,647 | 8,944,803 |
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