RADA Electronic Industries, an Israeli avionics and defense electronics company reported today revenues of $6.8 million gained in the second quarter of 2010, reflecting an increase by 125% over last year’s second quarter. The increase in sales moved the company into the black, writing an operating profit of $338,000 compared with operating loss of $647,000 million in the second quarter of 2009.  The improving performance contributed to a symbolic net income of $70,000 ($0.01 per share.),  compared with a nearly a million dollar net year over year.

Zvuka Alon, CEO, RADA

Zvika Alon, RADA’s Chief Executive Officer attributed the improvement to the significant increase in backlog during the first half of 2010, which was first reported in July 2010, indicates continuous growth and encouraging prospects for the future. “The growth in revenue is the result of higher volume programs, including major aircraft upgrades performed this past year, which we expect to leverage for our future business.” New products that matured in the recent year are expected to contribute to maintaining the momentum, among these are navigation systems and the new ‘Sentinel’ radar, designed for Active Protection Systems, which will be marketable to existing as well as new key customers.

For the first six months of 2010 revenues totaled $11.3 million, and operating profit totaled $91,000, compared with operating loss of $704,000 for the same period in 2009. The company decreased the reported net loss for the first half with $448,000 ($0.05 per share) compared with a net loss of $909,000 or $0.10 per share, for the comparable period in 2009.