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 March 2008
TAT TECHNOLOGIES LTD.
(Name of Registrant)
P.O.BOX 80, Gedera 70750 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-_______
TAT Technologies Ltd.
6-K Items
1. Press release re TAT Technologies Reports Fourth Quarter 2007 Results
dated March 19, 2008.
ITEM 1
Press Release Source: TAT Technologies Ltd
TAT Technologies Reports Fourth Quarter 2007 Results
Wednesday March 19, 9:14 am ET
GEDERA, Israel, March 19 /PRNewswire-FirstCall/ -- TAT Technologies Limited
(NASDAQ: TATTF - News), which is engaged in the manufacture, repair and overhaul
of heat transfer equipment and other various accessories mainly in aircraft,
reported today net profit of US$1,173,305 on revenues of US$19,750,938 in the
fourth quarter ended December 31, 2007 compared to a net profit of US$1,661,906
on sales of US$ 23,758,990 for the same period of 2006.
For the year ended December 31, 2007, the Company reported a net profit of
US$6,954,295 on revenues of US$88,704,475 compared to a net profit of
US$6,073,170 on revenues of US$77,532,879 for the same period of 2006.
The revenues in 2007 (US$ 88,704,475) increased by 14.4% compared to revenues in
2006 (US$ 77,532,879).
The company revenues for the three months ended December 31, 2007 of
US$19,750,938 have decreased by 16.9% compared to revenues of US$23,758,990 for
the three months ended December 31, 2006.
The net income for the year of US$6,954,295 has increased by 14.5% compared to
net income of US$6,073,170 for the year of 2006.
The net income of US$1,173,305 for the fourth quarter ended December 31, 2007
has decreased by 29.4% compared to the net profit of US$1,661,996 for the fourth
quarter ended December 31, 2006.
This decrease is a result of two reasons. The first one is decrease in revenues.
The second one is a result of the IPO of Limco-Piedmont Inc. by way of a
reduction of ownership of the company to 62% (equivalent to a reduction of
US$770,854).
In addition the company also recognize a net capital gain of US$25,025,543 for
the year and US$218,225 for the quarter related to the sale of common stock by
Limco and the company's sale of Limco common stock during 2007.
TAT Technologies, together with its subsidiaries is principally engaged in the
manufacture, repair and overhaul of heat transfer equipment, such as heat
exchangers, precoolers and oil/fuel hydraulic coolers used in aircraft, defense
systems, electronic equipment and other applications. In addition, the Company
manufactures and overhauls aircraft accessories and systems such as pumps,
valves, Power Systems, Turbines, etc.
TAT TECHNOLOGIES LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(amounts in thousands U.S. dollars)
Year Ended Three Months Ended
December 31 December 31
2007 2006 2007 2006
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Revenues $88,704 $77,533 $19,751 $23,759
Gross profit 23,640 19,894 4,692 5,355
Income from operations
before income taxes and
minority 9,730 9,321 1,064 2,589
Income taxes 2,005 3,248 (412) 927
Minority interest 771 -- 303 --
Net income 6,954 6,073 1,173 1,662
Net capital gain 25,026 -- 218 --
Total net income 31,980 6,073 1,391 1,662
Basic income per share $4.94 $1.004 $0.21 $0.248
Diluted income per share $4.98 $0.984 $0.21 $0.239
Weighted average number of
basic shares outstanding 6,474,178 6,042,671 6,542,671 6,042,671
Weighted average number of
diluted shares outstanding 6,538,440 6,163,025 6,558,689 6,283,186
Company Contact
Mr. Israel Ofen
Executive Vice-President and Chief Financial Officer
+972-8-859-5411
SIGNATURE
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.
TAT TECHNOLOGIES LTD.
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(Registrant)
By: /s/Israel Ofen
Israel Ofen
Executive Vice President and
Chief Financial Officer
Date: March 19, 2008