Press Release: TAT Technologies Grows Revenue by 36%, Increases Net Income by 78% and increased adjusted EBITDA by 69%, for the Second Quarter of 2024

                    ------------  ------------  -----------  ------------  ----------- 
Supplemental 
disclosure of 
cash flow 
information: 
                    ------------  ------------  -----------  ------------  ----------- 
 
Interest paid              (410)         (267)        (852)         (512)      (1,438) 
                    ------------  ------------  -----------  ------------  ----------- 
 
 
                      TAT TECHNOLOGIES AND ITS SUBSIDIARIES 
 
            RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP) 
---------------------------------------------------------------------------------- 
                                   (UNAUDITED) 
---------------------------------------------------------------------------------- 
                                  (In thousands) 
 
 
 
                    Three 
                   months 
                    ended    Six months ended               Year ended 
                   -------  ------------------  ---------------------------------- 
                    June 
                     30,         June 30,                  December 31, 
                   -------  ------------------  ---------------------------------- 
                    2024     2023      2024         2023              2023 
                   -------  -------  ---------  ------------  -------------------- 
 
 
Net income (Loss)  $ 2,617  $ 1,475     $4,727       $ 2,133                $4,672 
 
Adjustments: 
   Share in 
    results and 
    sale of 
    equity 
       investment 
    of affiliated 
    companies        (234)    (153)      (432)         (221)                 (503) 
   Taxes on 
    income (tax 
    benefit)            44     (63)      (109)          (90)                   576 
   Financial 
    expenses 
    (income), 
    net                306      272        755           658                 1,330 
   Depreciation 
    and 
    amortization     1,468    1,006      2,898         2,140                 4,902 
    Share based 
     compensation      148       30        189           120                   159 
                   -------  -------  ---------  ------------  -------------------- 
 
Adjusted EBITDA    $ 4,349  $ 2,567  $   8,028  $      4,740  $             11,136 
                   =======  =======  =========  ============  ==================== 
 
 
 

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/ Ehud Ben-Yair

Ehud Ben-Yair

Chief Financial Officer

Date: August 28, 2024

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SOURCE TAT Technologies Ltd.

(END) Dow Jones Newswires

August 28, 2024 19:35 ET (23:35 GMT)