TAT TECHNOLOGIES LTD Files Amendment to Annual Report

TL;DR

<b>TAT TECHNOLOGIES LTD filed an amendment to its 2023 annual report, confirming its listing on NASDAQ and share structure.</b>

AI Summary

TAT TECHNOLOGIES LTD (TATT) filed a Amended Foreign Annual Report (20-F/A) with the SEC on March 7, 2024. Filing is an Amendment No. 1 to the Annual Report on Form 20-F for the fiscal year ended December 31, 2023. Ordinary Shares, NIS 0.90 Par Value, are traded on the NASDAQ Global Market under the symbol TATT. As of December 31, 2023, TAT TECHNOLOGIES LTD had 10,102,612 Ordinary Shares outstanding. The company is incorporated in Israel and its principal executive offices are located in Netanya. Ehud Ben-Yair is the Chief Executive Officer.

Why It Matters

For investors and stakeholders tracking TAT TECHNOLOGIES LTD, this filing contains several important signals. This amendment clarifies the company's reporting status and confirms details about its share structure and exchange listing. It provides an update on the number of outstanding ordinary shares as of the end of the fiscal year.

Risk Assessment

Risk Level: low — TAT TECHNOLOGIES LTD shows low risk based on this filing. The filing is an amendment to a routine annual report, indicating no significant new risks or material changes are being disclosed at this time.

Analyst Insight

Review the full amended filing for any specific details or disclosures that may have prompted this amendment.

Key Numbers

• 10,102,612 — Ordinary Shares Outstanding (As of December 31, 2023)
• 2023-12-31 — Fiscal Year End (Period covered by the report)
• 0-16050 — Commission File Number (SEC filing identifier)

Key Players & Entities

• TAT TECHNOLOGIES LTD (company) — Registrant
• NASDAQ Global Market (company) — Exchange where shares are registered
• TATT (company) — Trading Symbol
• Ehud Ben-Yair (person) — Chief Executive Officer
• December 31, 2023 (date) — Fiscal year end
• 10,102,612 (dollar_amount) — Number of outstanding Ordinary Shares
• Israel (location) — Jurisdiction of incorporation
• Netanya (location) — Address of principal executive offices

FAQ

Industry Context

TAT TECHNOLOGIES LTD operates in the aircraft engines and engine parts industry.

Regulatory Implications

The company is filing an annual report on Form 20-F, which is a standard requirement for foreign private issuers under the Securities Exchange Act of 1934.

What Investors Should Do

1. Verify if the amendment introduces any new material information beyond routine updates.
2. Note the number of outstanding shares for potential per-share analysis.
3. Confirm the company's continued listing and trading on the NASDAQ Global Market.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the annual report.
• 2024-03-07: Filing Date — Date this amendment was filed with the SEC.

Year-Over-Year Comparison

This is an amendment (No. 1) to the previously filed 2023 annual report on Form 20-F.

Key Financial Figures

• $113.8 million — 31, 2022 Revenues. Total revenues were $113.8 million for the twelve months ended December 31
• $84.5 million — hs ended December 31, 2023, compared to $84.5 million for the twelve months ended December 31
• $27.6 million — rom this operating segment increased to $27.6 million for the year ended December 31, 2023, f
• $21.8 million — the year ended December 31, 2023, from $21.8 million for the year ended December 31, 2022, a
• $33 million — olutions operating segment increased to $33 million for the year ended December 31, 2023, f
• $24.8 million — the year ended December 31, 2023, from $24.8 million for the year ended December 31, 2022, a
• $50.7 million — mponents operating segment increased to $50.7 million for the year ended December 31, 2023, f
• $35.9 million — the year ended December 31, 2023, from $35.9 million for the year ended December 31, 2022, a
• $6.8 million — engine components segment increased to $6.8 million for the year ended December 31, 2023, f
• $5.8 million — the year ended December 31, 2023, from $5.8 million for the year ended December 31, 2022 an
• $91.3 million — Cost of revenues. Cost of revenues was $91.3 million for the twelve months ended December 31
• $68.6 million — hs ended December 31, 2023, compared to $68.6 million for the twelve months ended December 31
• $20.2 million — revenues for this operating segment was $20.2 million for the year ended December 31, 2023, c
• $18.8 million — ar ended December 31, 2023, compared to $18.8 million for the year ended December 31, 2022, a
• $30.1 million — olutions operating segment increased to $30.1 million for the year ended December 31, 2023 fr

Filing Documents

• zk2431113.htm (20-F/A) — 376KB
• exhibit_12-1.htm (EX-12.1) — 8KB
• exhibit_12-2.htm (EX-12.2) — 8KB
• exhibit_13-1.htm (EX-13.1) — 5KB
• exhibit_13-2.htm (EX-13.2) — 5KB
• 0001178913-24-000866.txt (&nbsp;) — 747KB
• tatt-20231231.xsd (EX-101.SCH) — 5KB
• tatt-20231231_cal.xml (EX-101.CAL) — 91KB
• tatt-20231231_def.xml (EX-101.DEF) — 19KB
• tatt-20231231_lab.xml (EX-101.LAB) — 24KB
• tatt-20231231_pre.xml (EX-101.PRE) — 19KB
• zk2431113_htm.xml (XML) — 9KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No The registrant's auditor is Kesselman & Kesselman , Tel-Aviv , Israel (PCAOB ID Number 1309 ) EXPLANATORY STATEMENT This Amendment No. 1 on Form 20-F/A (the "Amendment") to the annual report on Form 20-F for the fiscal year ended December 31, 2023, filed on March 6, 2024 (the "Original Filing"), is being filed by TAT Technologies Ltd. (the "Company") solely to correct a typographical errors in Item 5 "Operating and Financial Review and Prospects" in the Original Filing. As required by Rule 12b-15 of the Securities and Exchange Act of 1934, as amended, the Company is also filing or furnishing the certifications required under Section 302 and Section 906 of the Sarbanes-Oxley Act of 2002 as exhibits to this Amendment No. 1. This Amendment makes no other changes to the Original Filing other than as described above.

Operating and

Item 5. Operating and Financial Review and Prospects Operating Results The following discussion of our results of operations should be read together with our consolidated financial statements and the related notes, which appear elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our current plans, estimates and beliefs and involve risks and uncertainties. Our actual results may differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include those discussed below and elsewhere in this annual report. Overview TAT is reliant on the robustness of the commercial and military aerospace and ground defense industries. Any downturn in these industries could weaken demand for its solutions and services and negatively impact its financial results. The commercial airline industry is cyclical and has historically been subject to fluctuations due to general economic and political conditions, such as fuel and labor costs, price competition, downturns in the global economy and national and international events. TAT's cost of revenues for OEM operations and MRO services consists of component and material costs, direct labor costs, quality assurance costs, shipping expenses, royalties, overhead related to manufacturing and depreciation of manufacturing equipment. TAT's gross margin is affected by the proportion of its revenues generated from each of its operational segments. The principal factors that affect the operating income of TAT's four segments, in addition to their gross profit, is the expenditure on selling and marketing expenses and general and administrative expenses. While TAT closely monitors its operating expenses to prevent unnecessary spending, we believe that these operating expenses may increase in the future in accordance with our plans to grow the business. TAT's research and development expenses are related to new products an

View Full Filing

View this 20-F/A filing on SEC EDGAR