SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
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 May 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-__________
6-K Items
1. Press Release re TAT Technologies Limited reports the first quarter
2008 results dated May 15, 2008.
ITEM 1
Press Release Source: TAT Technologies Limited
TAT Technologies Limited Reports the First Quarter 2008 Results
Thursday May 15, 5:25 pm ET
GEDERA, Israel, May 15 /PRNewswire-FirstCall/ -- TAT Technologies Limited
(Nasdaq: TATTF - News), a leader in the manufacture, repair and overhaul of heat
transfer equipment and other various accessories used in aircraft, today
reported revenues of $22,243,347 and net profit of $1,498,958 in the quarter
ended March 31, 2008 compared to revenues of $25,026,987 and net profit of
$2,585,242 for the same period in 2007.
The Company's revenues of $22,243,347 in the first quarter of 2008 decreased by
11.1% compared to revenues of $25,026,987 in the same period in 2007.
Net profit in the first quarter of 2008 has decreased by 52% to $1,498,958
compared to net profit of $2,585,242 in the same period of 2007. The decrease in
revenues and profit is due in part to the reduction in the Company's ownership
interest in its U.S. -- based subsidiary, Limco-Piedmont Inc., from 100% to 62%
as a result of Limco-Piedmont's IPO in 2007.
About TAT Technologies Ltd.
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.
Certain matters discussed in this news release are forward-looking statements
that involve a number of risks and uncertainties including, but not limited to
statements regarding expected results in future quarters, risks in product and
technology development, product demand, the impact of competitive pricing,
changing economic conditions and other risk factors detailed in the Company's
filings with the United States Securities and Exchange Commission.
TAT TECHNOLOGIES LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(amounts in thousands U.S. dollars)
Three Months Ended
March 31,
2007 2008
(unaudited)
Revenues $25,027 $22,243
Gross profit 6,601 5,837
Income from operations before Income Taxes 3,074 2,272
Income taxes 489 389
Minority interest -- 384
Net income 2,585 1,499
Basic income per share $0.39 $0.23
Diluted income per share $0.39 $0.23
Weighed average number of basic
shares outstanding 6,542,671 6,542,671
Weighed average number of diluted
shares outstanding 6,558,689 6,557,089
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.
---------------------
(Registrant)
By: /s/Israel Ofen
--------------
Israel Ofen
Executive Vice President and
Chief Financial Officer
Date: May 15, 2008