TAT Technologies Ltd. (NASDAQ: TATT) reported first quarter of 2016 total revenue of USD23.6 million compared to USD20.5 million in the first quarter of 2015, the company said.
Operating income was USD0.3 million compared to USD1.1 million in the first quarter of 2015.
Net income totaled USD0.04 million compared to USD1.9 million in the first quarter of 2015.
TAT Technologies provides services and products to the commercial and military aerospace and ground defense industries.
During the three months ended March 31, 2015 the Company recognized a gain from the revaluation to fair value of the remaining holding in the investment in First Aviation Services Inc. The capital gain from the revaluation was USD254. During the three months period ended December 31, 2015 the Company adjusted the gain from the revaluation reported in the three months period ended March 31, 2015.