TAT Technologies Lost Profits Aviation Industry Weakness

Aviation supplier and defense contractor TAT Technologies Ltd. said Monday it lost $1 million in the fourth quarter because of general weakness in the aviation industry.

The loss, which amounts to 12 cents per share, compares with a net income of $700,000, or 12 cents per share, a year earlier. TAT, based in Israel, said its revenue dropped 41 percent to $18.4 million.

For the full year, TAT reported net income of $1.8 million, or 22 cents per share, down from profit of $4.3 million, or 65 cents per share, in 2008. Its full-year revenue fell 20 percent to $83.1 million.
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