SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of
July 2004
RADA ELECTRONIC INDUSTRIES LIMITED
(Name of Registrant)
7 Giborei Israel Street, Netanya 42504, Israel
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F __
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):__
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):__
Indicate by check mark whether by furnishing the information
contained in this Form, the registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes__ No X
If "Yes" is marked, indicate below the file number assigned to
the registrant in connection with Rule 12g3-2(b): 82-_____________
This Form 6-K is being incorporated by reference into the Company's
Form F-3 Registration Statements File Nos. 333-12074 and 333-115598.
RADA ELECTRONIC INDUSTRIES LTD.
6-K Items
1. Press Release re RADA Electronic Industries Ltd. Six Months Results for
June 30, 2004 dated July 29, 2004.
ITEM 1
Press Release Source: RADA Electronic Industries Ltd.
RADA Electronic Industries Ltd. Six Months Results for June 30, 2004
Wednesday July 28, 12:19 pm ET
NETANYA, Israel, July 28 /PRNewswire-FirstCall/ --
RADA Electronic Industries Ltd. (Nasdaq SmallCap: RADIF - News) today reported
its financial position and results of operations for the six months ended June
30, 2004. The company reported $6.9 million in revenues, an increase of 50
percent compared to $4.5 million for the first half of 2003. Net income for the
first six months of 2004 was $163,000, compared to a loss of $550,000 in the
first six months of 2003.
"Our results demonstrate an improvement in all of our economic and business
indicators, and is a reflection of the growth trend in RADA over the past three
years" said Adar Azancot, CEO of RADA. "The six months financial report confirms
RADA's continues progress from the turnaround period to a period of growth. RADA
completed a $5.88 million private placement of its securities on July 12th. The
proceeds will provide us with financing necessary to initiate our strategic
growth plan"
About RADA
RADA Electronic Industries Ltd. is an Israel based company involved in the
military and commercial aerospace industries with a staff of 90 persons. The
company specializes in Avionics, Ground Debriefing Stations (Video, ACMI and
Maintenance) and Automatic Test Equipment.
Note: Certain statements in this press release are "forward-looking statements"
within the meaning of the Private Securities Litigation Act of 1995. Such
statements involve known and unknown risks, uncertainties and other factors that
may cause actual results to differ materially. Such risk uncertainties and other
factors include, but are not limited to, changes in general economic conditions,
risks in product and technology developments, market acceptance of new products
and continuing product demand, level of competition and other factors described
in the Company's Annual Report on Form 20-F and other filings with the
Securities and Exchange Commission.
UNAUDITED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands, except share and per share data
June 30, December 31,
2004 2003
ASSETS
Current Assets $ 5,939 $ 5,262
Long-Term Receivables And Deposits 2,722 2,572
Property And Equipment, Net 4,465 4,728
Intangible Assets, Net 1,848 1,987
Total Assets $ 14,974 $ 14,549
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities: $ 8,249 $ 7,978
Long-Term Liabilities: 3,250 3,268
Minority Interests 407 425
Shareholders' Equity:
Share Capital
Ordinary Shares Of Nis 0.005 Par Value -
Authorized: 45,000,000 Shares At June 30, 2004
And December 31, 2003; Issued And Outstanding:
18,510,716 Shares At June 30, 2004 And December
31, 2003 118 108
Additional Paid-In Capital 59,156 59,139
Warrants 1,405 1,405
Accumulated Deficit (57,611) (57,774)
Total Shareholders' Equity 3,068 2,878
Total Liabilities And Shareholders' Equity $ 14,974 $ 14,549
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
U.S. dollars in thousands, except share and per share data
For the Six months ended
June 30,
2004 2003
Revenues:
Products $ 5,210 $ 2,885
Services 1,708 1,662
6,918 4,547
Cost of revenues:
Products 4,360 2,426
Services 873 1,202
5,233 3,628
Gross profit 1,685 919
Operating expenses:
Marketing, selling, general and
administrative expenses 1,378 1,307
Operating income (loss) 307 (388)
Financial income (expenses), net (172) (231)
Other expenses, net 10 62
145 (557)
Minority interests in losses of
subsidiary 18 7
Net income (loss) $ 163 $ (550)
Earnings (loss) per share:
Basic net earnings (loss) per share $ 0.01 $ (0.03)
Diluted net earnings (loss) per share $ 0.01 $ (0.03)
Contact: Elan Sigal- CFO
RADA Electronic Industries Ltd.
Tel: +972-9-8921129
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Rada Electronic Industries Ltd.
(Registrant)
By: /s/Herzle Bodinger
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Herzle Bodinger, Chairman
Date: July 29, 2004