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TAT Technologies Reports Fourth Quarter And Full Year 2011 Results

GEDERA, Israel, March 22, 2012 /PRNewswire/ --

TAT  Technologies  Ltd. (NASDAQ: TAT), a leading provider of services and products to the commercial and military aerospace and ground defense industries, reported today its results for the three month and twelve month periods ended December 31, 2011.

Financial Highlights:

TAT announced revenues of $23.4 million and net income of $0.1 million for the three months ended December 31, 2011 compared to similar revenues of $23.8 million with a net loss of $3.1 million for the three months ended December 31, 2010.

During the fourth quarter of 2011, total revenues were impacted by (i) the increase in revenues in the Heat Transfer Services and Products operating segment; and (ii) the increase in revenues in the MRO Services for Aviation Components operating segment; offset by (iii) the decrease in revenues in the OEM of Heat Management Solutions operating segment; and (iv) the decrease in revenues in the OEM of Electric Motion Systems operating segment.  

Revenue breakdown by the operating segments for the three-month and twelve-month periods ended December 31, 2011 and 2010, respectively, was as follows:

                           Three Months Ended December 31,
                                                                                                             
                           2011                     2010             % of
                  Revenues        % of     Revenues        % of     Change
                     in          Total        in          Total     Between
                  Thousands     Revenues   Thousands     Revenues   Periods
                        Unaudited                Unaudited
    Revenues
    OEM of Heat
    Management
    Solutions       $ 8,424        36.0%     $ 9,021        37.9%     (6.6)%
    Heat
    Transfer
    Services and
    Products *        7,638        32.7%       6,872        28.9%     11.1%
    MRO services
    for Aviation
    Components *      5,343        22.8%       4,630        19.4%     15.4%
    OEM of
    Electric
    Motion
    Systems           3,103        13.3%       4,480        18.8%    (30.7)%
    Eliminations     (1,118)       (4.8)%     (1,186)       (5.0)%    (5.7)%
    Total
    revenues       $ 23,390       100.0%    $ 23,817       100.0%     (1.8)%
                          Twelve Months Ended December 31,
                                                                     
                                                                    
                                                                    
                           2011                     2010            % of 
                  Revenues        % of     Revenues        % of     Change
                     in          Total        in          Total     Between
                  Thousands     Revenues   Thousands     Revenues   Periods
                        Unaudited                Unaudited
    Revenues
    OEM of Heat
    Management
    Solutions      $ 30,020        35.2%    $ 29,651        37.2%      1.2%
    Heat
    Transfer
    Services and
    Products *       27,603        32.3%      24,469        30.7%     12.8%
    MRO services
    for Aviation
    Components *     20,146        23.6%      16,332        20.4%     23.4%
    OEM of
    Electric
    Motion
    Systems          11,658        13.6%      13,046        16.4%    (10.6)%
    Eliminations     (4,030)       (4.7)%     (3,743)       (4.7)%     7.7%
    Total
    revenues       $ 85,397       100.0%    $ 79,755       100.0%      7.1%

 

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