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.
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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