Israel’s TAT Technologies, a supplier of OEM products and MRO services to both the commercial and military segments of the aerospace industry, reported revenue of $26.8 million in the second quarter, an increase of 29% over the same period a year earlier. 

Net income reached $1.5 million in the April to June period, or $0.15 earnings per share (EPS), compared to a loss of $0.01 EPS in the second quarter of 2022. 

“We are enjoying an increase in OEM purchase orders and MRO intake,” TAT CEO and President Igal Zamir said in an Aug. 29 press release, citing the positive recovery trend in the supply chain and availability of materials.  

Given TAT’s strong order backlog, the company is “very optimistic” about its prospects in the second half of the year, Zamir said. He noted that TAT is ready to implement the second wave of its landing gear contracts with two strategic customers, while the company has also completed operational preparations that will allow it to bid for requests for proposals (RFPs) to support both the APU (auxiliary power unit) 331-500 and APU 131 product lines—which serve a global fleet of more than 17,000 aircrafts.

In August, TAT announced that its Oklahoma-based subsidiary TAT Limco had signed a $7.5 million contract to repair a thermal component of Boeing 747 jets for a “major European cargo carrier.” In a press release, Zamir attributed Limco winning the contract to a unique capability to repair the component under FAA and EASA certification. 

The contract is expected to begin contributing to TAT’s revenue in the third quarter, he added.