Rada Electronic has best day since 2003 after results

NEW YORK (Reuters) - Rada Electronic Industries Ltd , a maker of electric components for the defense industry, is having its best day in more than 10 years on Monday, soaring on its heaviest-ever one-day volume in the wake of its second-quarter results.

The stock is up 62 percent at $4.07, the biggest one-day jump since October 2003. Volume is 17.29 million shares, a level not only many times its 50-day average of about 250,000 shares, but more than 10 times the amount it traded in all of 2013.

This is the third straight day of strong gains for the stock, which is up more than 160 percent over that period.

In its results, released after the market opened on Monday, the company reported revenue growth of 23 percent and said it expects to continue the year with similar gross margins, affirming its expectation for "favorable" 2014 results.

Based on its Friday closing price, Rada has a market cap of $22.47 million.

(Editing by Nick Zieminski)