logo
  Join        Login             Stock Quote

TAT Technologies (TATT) Swings To 3Q Profit On Higher Revenue, Margins

 November 23, 2012 07:44 AM


(By Balaseshan) TAT Technologies Ltd. (NASDAQ: TATT), an Israel-based provider of products and services to aerospace and defense industries, swung to a quarterly profit on higher revenue across three of its segments and gross margins.

Earnings for the third quarter were $1.77 million or $0.20 per share, compared to a loss of $3.28 million or $0.37 per share last year. The last year results included a $5.76 million write down of inventories and impairment charges of long lived assets.

Revenue rose 6.6% to $22.08 million, on an increase in revenues from the OEM of Heat Management Solutions, OEM of Electric Motion Systems and MRO Services for Aviation Components. The rise in revenue was partially offset by the decrease in revenues in the Heat Transfer Services and Products segment.

Revenues from OEM of Heat Management Solutions rose 5% to $8 million, while Heat Transfer Services and Products revenue declined 3.4% to $6.66 million.

MRO Services for Aviation Components revenue grew 20.1% to $6.03 million, while OEM of Electric Motion Systems revenue increased 20.2% to $2.44 million.

Gross margin for the third quarter was a positive of 26.3%, compared to a negative of 6.5% in the previous year quarter.

"The results of the 2012 third quarter reflect the trend of continuous improvement Year over Year as we continued to increase revenues and gross margins compared to the corresponding periods in 2011. These improvements are attributed to the increase in our marketing and sales efforts during 2011 through 2012 as well as to our rigorous and continuing activity in improving our production flow and yields," said Itsik Maaravi, Chief Executive of TAT.

The company said it continues to focus on its core capabilities and expects that its efforts would sustain the trend of improved performance for the remainder of 2012 and in 2013.

TATT closed Wednesday's regular session up 0.20% at $5. The stock has been trading between $3.63 and $5.19 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageIntegrated Device Technology Inc. (IDTI) Q1 Earnings Preview: Another Beat and Pop?

Integrated Device Technology Inc. (NASDAQ:IDTI) will issue first quarter 2015 financial results on July 28, read on...

article imageHerbalife Ltd. (NYSE:HLF) Q2 Earnings Preview: The Potential To Shock?

Herbalife Ltd. (NYSE:HLF) will release its second quarter 2014 financial results after the close of trading read on...

article imageHealth Net, Inc. (HNT): Potential to Be Huge Winners Says Bank of America

As of this keystroke, Health Net, Inc. (NYSE: HNT) shares are up around 4% on the day. The managed health read on...

article imageHomeAway, Inc. (AWAY) Q2 Earnings Preview: Top and Bottom Line Bullish Surprise?

HomeAway, Inc. (NASDAQ:AWAY) will report its financial results for the second quarter ended June 30, 2014 read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Recent Articles by Balaseshan
More Articles on: Aerospace



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.