As of September 30, 2012, TAT had cash and cash equivalents and short-term bank deposits of $25.3 million, marketable securities of $1.8 million and restricted cash of $3.0 million, which equals $30.1 million of financial assets, compared with cash and cash equivalents and short-term deposits of $28.4 million, short term investments and marketable securities of $2.5 million and restricted cash of $4.5 million, which equals $35.4 million of financial assets as of September 30, 2011. Financial assets, net of debt were $24.7 million in September 30, 2012 compared to $23.8 million in September 30, 2011On May 21, 2012, TAT's Board of Directors approved a stock repurchase plan under Rule 10b5-1 of the Securities Exchange Act of 1934. The plan was for a period of 6 months (subject to extension) and provided for the purchase of shares in an aggregate amount of up to $0.5 million U.S. dollars. Such plan replaced and superseded a prior repurchase plan approved by TAT's Board of Directors' on February 21, 2012. As of September 30, 2012, the Company had purchased 9,733 shares for approximately $41 thousands (average of $4.19 per share) constituting less than 0.1% of TAT's issued shares. On November 21, the term of such stock repurchase plan ended. As of such date, the Company had purchased 16,433 shares for approximately $71 thousands (average of $4.32 per share).
TAT Technologies Reports Year 2012 Third Quarter Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts