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 2006
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. Tat Technologies Ltd. Press Release re TAT Technologies Reports Fourth
Quarter 2005 Results dated March 30, 2006.
ITEM 1
Press Release Source: TAT Technologies Ltd.
TAT Technologies Reports Fourth Quarter 2005 Results
Thursday March 30, 9:10 am ET
GEDERA, Israel, March 30 /PRNewswire-FirstCall/ -- TAT Technologies Ltd.
(NASDAQ/NMS: TATTF - News), which is engaged in the manufacture, repair and
overhaul of heat transfer equipment and other various accessories mainly in
aircraft, reported today a net profit of $1,533,381 pre-tax and 976,806 after
tax on revenues of $17,307,460 in the fourth quarter ended December 31, 2005
compared to a net profit of $1,255,153 pre-tax and $908,285 after tax on sales
of $ 8,070,231 for the same period of 2004.
For the year ended December 31, 2005 the company reported a net profit of
$5,659,019 pre-tax and $3,523,338 after tax on revenues of $49,060,951 compared
to a net profit of $5,408,335 pre-tax and $3,741,514 after tax on revenues of
$33,242,686 for the same period of 2004.
The revenues in 2005 ($ 49,060,951) increased by 47.6% compared to revenues in
2004 ($33,242,686), mainly as a result of the recent acquisition by the Company
of Piedmont Aviation Component Services ("Piedmont").
The net, pre-tax profit ($ 5,659,019) represents an increase of 4.64% compared
to the net, pre-tax profit in 2004 ($5,408,335). In conjunction herewith, it is
noted that in view of the short period that evolved since the acquisition of
Piedmont the current profitability for the said subsidiary cannot as yet be
considered as representative.
The change in revenues is mainly due to increase in our repair and overhaul
activities in the USA through our subsidiary there.
The increase in net profit pre-tax results mainly from increases in revenues and
gross profit.
TAT, 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 $, Unaudited)
Three Months Ended Year Ended
December 31 December 31
2004 2005 2004 2005
($) ($) ($)
Revenues 8,070 17,307 33,243 49,061
Gross Profit 2,903 3,907 11,077 13,525
R&d Expenses 26 17 124 71
Other Income 7 75 54 286
Income from Operations
before Income Taxes 1,255 1,533 5,408 5,659
Income Tax 347 556 1,667 2,136
Net Income 908 977 3,741 3,523
Earnings Per Share $ 0.15 0.16 $ 0.73 0.58
Weighed Average Shares
Outstanding 6,042,671 6,042,671 5,149,689 6,042,671
AT THE COMPANY
Mr. Israel Ofen
Executive Vice-President and Chief Financial Officer
+972-8-859-5411
SIGNATURES
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
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Israel Ofen
Executive Vice President and
Chief Financial Officer
Date: March 30, 2006