TAT Technologies Reports Third Quarter 2006 Results

GEDERA, Israel, November 29 /PRNewswire-FirstCall/ -- TAT Technologies Limited (NASDAQ: TATTF; ISRQ: TATTF), reported today a net profit of $1,675,300 on sales of $18,976,730 in the third quarter ended September 30, 2006 compared to a net profit of $859,919 on sales of $14,403,370 for the same period of 2005.

For the first nine months the company reported a net profit of $4,411,264 on sale of $53,773,889 compared to a net profit of $2,546,532 on sale of $31,753,490 for the same period of 2005.

Sales for the third quarter increased by 30.5% and net profit increased by 94.8% compared to the same quarter last year. These improvements have been mainly generated by TAT's subsidiaries.

On October 2006, the company signed a letter of intent with Stork N.V. and its aerospace subsidiary Fokker Services B.V. to sale 51% of Piedmont Aviation Components Services, LLC and 49% of Limco Airepair Inc. (the company subsidiaries) for $38,375,000. The closing is expected to be in January 2007.

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 APU's, Landing Gears, Propellers, pumps, valves, Power Systems, Turbines, etc.

                              TAT TECHNOLOGIES LTD.

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                     (Amounts in Thousands U.S $, Unaudited)


                                Nine Months Ended     Three Months Ended

                                   September 30         September 30
                                 2006        2005       2006       2005

                                  ($)       ($)        ($)         ($)
    Revenues                      53,774    31,753     18,977      14,403
    Gross Profit                  14,539     9,618      5,201       3,842
    Income from Operations         6,731     4,126      2,556       1,354
    before Income Taxes
    Income Tax                     2,320     1,579        881         494
    Net Income                     4,411     2,547      1,675         860
    Basic and Diluted Earnings
    Per Share
                                  $ 0.73    $ 0.42     $ 0.28      $ 0.14
    Weighed Average Basic and
    Diluted Shares
    Outstanding
                               6,042,671  6,042,671   6,042,671   6,042,671



    AT THE COMPANY
    Mr. Israel Ofen
    Executive Vice-President and Chief Financial Officer
    +972-8-859-5411