BK Technologies Awarded $2.5 Million Purchase Order from the USDA Forest Service for BKR 5000

Rhea-AI Summary

BK Technologies Corporation (NYSE American: BKTI) announced a significant $2.5 million purchase order from the United States Department of Agriculture Forest Service for its BKR 5000 portable communications technology. This order is part of a 5-year Blanket Purchase Agreement established in May 2021. President Tim Vitou emphasized the importance of reliable communication technology in managing wildfires, highlighting the agency's confidence in BK Technologies' equipment. The company is committed to supporting public safety professionals with high-quality, American-made communications solutions.

Positive

• Secured a $2.5 million order from the USDA Forest Service.
• Part of a 5-year Blanket Purchase Agreement, indicating long-term partnership.
• Strengthens its position in the public safety communications market.

Negative

• None.

WEST MELBOURNE, FL / ACCESSWIRE / August 10, 2021 / BK Technologies Corporation (NYSE American:BKTI) today announced that it has received a purchase order valued at $2.5 million from the United States Department of Agriculture Forest Service (USFS) for its new BKR 5000 portable communications technology. The purchase order is part of the Company's 5-year Blanket Purchase Agreement (BPA) with the U.S. Department of Agriculture, announced in May 2021.

Tim Vitou, President of BK Technologies commented, "We are pleased to continue our longstanding partnership with the USFS by providing our new BKR 5000 portable communications technology as the agency implements a National Cohesive Wildland Fire Management Strategy, which includes the transition to new mobile equipment and technology. As wildland fire management has evolved to combat longer fire seasons, bigger fires and the coordination of response efforts across both rural and urban settings, reliable and accurate communications technology has become even more critical to field operations. We're pleased to have the opportunity to provide our communications technology to the USFS and believe this order demonstrates their confidence in the reliability and value of our equipment. We look forward to further expanding our long-term relationship with USFS."

The United States Forest Service is an agency of the U.S. Department of Agriculture that administers the nation's 154 national forests and 20 national grasslands. The Forest Service manages 193 million acres of land.

About BK Technologies

BK Technologies Corporation is an American holding company deeply rooted in the public safety communications industry, with its operating subsidiary manufacturing high-specification, American-made communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies. BK Technologies is honored to serve our public safety heroes with reliable equipment when every moment counts. The Company's common stock trades on the NYSE American market under the symbol "BKTI". Maintaining its headquarters in West Melbourne, Florida, BK Technologies can be contacted through its website at www.bktechnologies.com or directly at 1-800-821-2900.

Forward-Looking Statements

This press release contains certain forward-looking statements that are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company's operations, economic performance, and financial condition and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors and risks, some of which have been, and may further be, exacerbated by the COVID-19 pandemic, include, among others, the following: changes or advances in technology; the success of our land mobile radio product line; successful introduction of new products and technologies, including our ability to successfully develop and sell our anticipated new multiband product and other related products in the planned new BKR Series product line; competition in the land mobile radio industry; general economic and business conditions, including federal, state and local government budget deficits and spending limitations, any impact from a prolonged shutdown of the U.S. Government, and the ongoing effects of the COVID-19 pandemic; the availability, terms and deployment of capital; reliance on contract manufacturers and suppliers; risks associated with fixed-price contracts; heavy reliance on sales to agencies of the U.S. Government and our ability to comply with the requirements of contracts, laws and regulations related to such sales; allocations by government agencies among multiple approved suppliers under existing agreements; our ability to comply with U.S. tax laws and utilize deferred tax assets; our ability to attract and retain executive officers, skilled workers and key personnel; our ability to manage our growth; our ability to identify potential candidates for, and consummate, acquisition, disposition or investment transactions, and risks incumbent to being a noncontrolling interest stockholder in a corporation; impact of the COVID-19 pandemic on the companies in which the Company holds investments; impact of our capital allocation strategy; risks related to maintaining our brand and reputation; impact of government regulation; rising health care costs; our business with manufacturers located in other countries, including changes in the U.S. Government and foreign governments' trade and tariff policies, as well as any further impact resulting from the COVID-19 pandemic; our inventory and debt levels; protection of our intellectual property rights; fluctuation in our operating results and stock price; acts of war or terrorism, natural disasters and other catastrophic events, such as the COVID-19 pandemic; any infringement claims; data security breaches, cyber-attacks and other factors impacting our technology systems; availability of adequate insurance coverage; maintenance of our NYSE American listing; risks related to being a holding company; and the effect on our stock price and ability to raise equity capital of future sales of shares of our common stock. Certain of these factors and risks, as well as other risks and uncertainties, are stated in more detail in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and in the Company's subsequent filings with the SEC. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.

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Company Contact:
IMS Investor Relations
John Nesbett/Jennifer Belodeau
bktechnologies@imsinvestorrelations.com
(203) 972-9200

SOURCE: BK Technologies Corporation

View source version on accesswire.com:
https://www.accesswire.com/659086/BK-Technologies-Awarded-25-Million-Purchase-Order-from-the-USDA-Forest-Service-for-BKR-5000

FAQ

What recent order did BK Technologies (BKTI) receive from the USDA?

BK Technologies received a $2.5 million purchase order from the United States Department of Agriculture Forest Service.

What is the BKR 5000 technology provided by BK Technologies?

The BKR 5000 is a portable communications technology aimed at enhancing communication during wildland fire management.

How does the USDA Forest Service's order impact BK Technologies' business?

The order highlights a strong partnership with the USDA, reinforcing BK Technologies' role in public safety communications.

When was the Blanket Purchase Agreement between BK Technologies and USDA announced?

The Blanket Purchase Agreement was announced in May 2021.

What is the significance of BK Technologies' order for investors?

The $2.5 million order indicates ongoing revenue generation and a stable relationship with a government agency, which may positively impact investor confidence.