- RADA Electronic Industries (NASDAQ:RADA) said on Wednesday that it estimates Q2 revenue guidance to be ~$22.5 million vs. consensus of $36.09M, at a similar level to that of the first quarter of this year.
- In light of the pending merger with Leonardo DRS, which is expected to be completed during the upcoming fourth quarter, RADA is withdrawing its full year 2022 guidance.
- Dov Sella, RADA’s CEO, commented, "It is taking longer for RADA to recover from the U.S. Continuing Resolution (CR) pause with orders coming slower than originally planned for and revenues from the U.S. similarly impacted."
- Shares are down 1.33% after-hours.
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