TAT Technologies Reports Record $52.9 Million Quarterly Revenue

TAT Technologies reported record second-quarter revenue of $52.9 million, up 22.8% from $43.1 million a year earlier, as demand stayed strong and supply-chain conditions eased. Gross profit rose 23% to $13.3 million, while operating income increased 26.8% to $5.6 million. Net income reached $8.1 million, including a $4.3 million after-tax gain from the sale of a minority interest; excluding that one-time benefit, net income increased 35.2% to $4.66 million. Backlog and long-term agreements rose to a company record of approximately $615 million at June 30.