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BK Technologies Corporation (NYSE American: BKTI) is a distinguished leader in the public safety communications industry, catering to the needs of government agencies and public safety professionals worldwide. Headquartered in West Melbourne, Florida, the company specializes in the design, manufacturing, and marketing of high-specification communications equipment known for their exceptional reliability and value.
BK Technologies operates through two primary business units: the Radio business unit, which focuses on two-way land mobile radios (LMRs) for government and public safety markets, as well as industrial and commercial enterprises; and the SaaS business unit, which enhances first responders' safety and efficiency through innovative public safety smartphone applications.
The company’s product portfolio includes the BKR Series, featuring the BKR 5000 and BKR 9000 multiband radios, known for their compliance with APCO Project 25 specifications. These radios are utilized globally under the BK Radio and Relm brand names, supporting lifecycle upgrades and critical operations for various public safety agencies.
Recently, BK Technologies has experienced significant growth, as evidenced by their financial results for the third quarter of 2023, which saw a 68% increase in revenue and a return to profitability. The company has secured major purchase orders from prominent agencies such as the National Interagency Incident Communications Division and the Bureau of Land Management, reinforcing the demand and trust in their products.
In addition to their robust product lineup, BK Technologies continues to innovate with the introduction of the BKRplay IntelliPTT feature, which enables push-to-talk-over-broadband capabilities between smartphones and BKR Series radios. This advancement is set to enhance the operational capabilities of first responders significantly.
The company’s strategic move to outsource manufacturing to East West Manufacturing aims to simplify supply chain management, reduce production costs, and focus on core competencies in development and marketing. This transition is expected to improve gross margins and ensure uninterrupted production and shipping.
BK Technologies remains committed to serving public safety professionals with superior communications solutions. Their dedication to innovation, quality, and reliability continues to drive their growth and market presence.
For more information, visit their website at www.bktechnologies.com or contact them at 1-800-821-2900.
BK Technologies (NYSE American:BKTI) reported Q3 2024 financial results with revenue of $20.2 million, consistent with Q3 2023. The company achieved significant improvements with gross margin reaching 38.8%, up from 31.9% year-over-year. GAAP earnings were $0.63 per diluted share, while order backlog stood at $27.0 million. The company raised its full-year 2024 GAAP earnings target to exceed $1.65 per share from the previous $1.50. The completion of manufacturing outsourcing to East West Manufacturing has positively impacted gross margins, with expectations of continued improvement.
BK Technologies (NYSE American:BKTI) announced it will host an investor conference call with a slide presentation to discuss its third quarter and nine months operating results ended September 30, 2024. The event is scheduled for Thursday, November 14, 2024, at 9:00 a.m. ET. Financial results will be released prior to the call. Shareholders can participate by dialing (888) 506-0062 (US) or (973) 528-0011 (international) using access code 682603. The presentation will be webcast and available for replay until November 21, 2024.
BK Technologies has received a $3.3 million purchase order from the Florida Forest Service for their BKR 9000 multiband portable radios. The order comes after field testing both BKR 5000 and BKR 9000 models, with the customer choosing the BKR 9000 for its multiband capabilities and superior interoperability with city and county trunked systems. The radios will be used for wildland fire operations, controlled burns, and research activities. The order was processed through the National Association of State Procurement Officials (NASPO) contract vehicle.
BK Technologies (NYSE American:BKTI) announced that its BKR 9000 multiband radio has received approval from the National Interagency Fire Center (NIFC) for use in federal wildland fire operations. This approval qualifies the radio for purchase by the Department of the Interior and use by federal employees and contractors. The BKR 9000 offers multiband capability, operating on all four Land Mobile Radio frequency bands in various settings, from urban centers to rural communities. It provides superior interoperability across federal, state, and local agencies. This approval follows the NIFC approval of BK Technologies' BKR 5000 single band radio in March 2021, expanding the company's offerings for wildland fire operations.
BK Technologies (NYSE American:BKTI) has announced that its CEO, John Suzuki, will attend the 4th Annual CEO Networking Event hosted by Semco Capital. The event is scheduled for August 15, 2024, at the Wildfire Restaurant in Chicago. Suzuki will participate in a fireside chat hosted by Scott Weis of Semco Capital and will be available for questions.
This annual event brings together leading microcap companies with strong management teams and growth potential. Investors interested in attending can contact Scott Weis at scott@semcocapital.com for more information.
BK Technologies (NYSE American:BKTI) announced strong Q2 2024 results, with revenue increasing 7% to $20.3 million and GAAP EPS of $0.47. The company saw improved gross margins of 37.3% and a growing order backlog of $26.9 million. Key highlights include:
- Significant orders from CalFire and Mississippi Forestry Commission
- Successful transition to outsourced manufacturing with East West Manufacturing
- Patent issued for InteropONE™ voice dispatch interoperability solution
- Reaffirmed full-year 2024 GAAP EPS target exceeding $1.50
CEO John Suzuki expressed confidence in the company's performance and future outlook, citing increased market demand for their products and the positive impact of their outsourced manufacturing model on margins.
BK Technologies (NYSE American: BKTI) has announced it will host an investor conference call with a slide presentation on Thursday, August 8, 2024, at 9:00 a.m. ET to discuss its operating results for the second quarter and six months ended June 30, 2024. The company plans to release its financial and operating results prior to the call on the same day. Shareholders and interested parties can participate by dialing specific numbers for domestic and international callers. The call and accompanying slide deck will also be webcast, with an online archive available for thirty days following the call on the company's website. A replay of the conference call will be accessible until Thursday, August 15, 2024.
On June 25, 2024, BK Technologies announced the election of Ellen O. O'Hara to its Board of Directors following the 2024 Annual Meeting of Stockholders held on June 20, 2024. O'Hara boasts over 40 years of experience in mobile communications, having held senior leadership roles at Zetron, EF Johnson, and Motorola. Her extensive background encompasses sales, marketing, finance, engineering, and supply chain management. As Chairman of the Board and Strategic Advisor at Zetron, she significantly contributed to the mission-critical communications sector. BK Technologies anticipates leveraging O'Hara's expertise to support its growth into a comprehensive hardware and software communications provider.
BK Technologies announced receiving two purchase orders worth $9.1 million from the California Department of Forestry and Fire Protection (CAL FIRE) for BKR 5000 portable radios. These orders are part of CAL FIRE's lifecycle replacement program, transitioning from the KNG Series Portables since 2022. CAL FIRE has acquired over 6,500 BKR 5000 radios to date. CEO John Suzuki highlighted the longstanding partnership and the company's role in providing reliable communication technology important for wildfire management and various emergency services. CAL FIRE oversees 31 million acres of wildlands in California and provides emergency services in 36 counties.
BK Technologies (NYSE American:BKTI) announced first quarter 2024 results with an EPS of $0.19 and adjusted EBITDA of $1.4 million. Revenue was $18.2 million, essentially consistent with the previous year but up 12% sequentially. The company saw a decrease in gross profit margin, reduced inventory by $1.4 million, transferred production to East West Manufacturing, and introduced a new product development program for the BKR 9500 multiband mobile radio. Operating income improved, and net income was positive compared to a loss in the previous year. Non-GAAP Adjusted EBITDA was $1.4 million. The company is confident in achieving its full-year target of $1.50 per share.
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