BK Technologies Awarded Contract Extension from Alberta Health Services
BK Technologies Corporation (NYSE American: BKTI) has announced a one-year extension of its contract with Alberta Health Services (AHS) for the provision of critical P25 800MHz communication technology. Initially established in 2015, this contract is now valid through March 31, 2022. AHS is Canada's largest health care provider, using about 3,000 communication devices across various facilities. BK's President, Tim Vitou, expressed optimism about the extension, viewing it as a testament to AHS's confidence in BK. This partnership is seen as a stepping stone for BK's international growth ambitions.
- Contract extension with Alberta Health Services enhances revenue stability.
- AHS's significant user base (3,000 devices) indicates potential for increased sales.
- The contract extension supports BK's international growth strategy.
- No guaranteed purchase quantities under the contract may limit revenue predictability.
WEST MELBOURNE, FL / ACCESSWIRE / April 6, 2021 / BK Technologies Corporation (NYSE American:BKTI) today announced that its contract with Alberta Health Services (AHS) has been extended for an additional year. Under the contract BK provides AHS with mission critical P25 800MHz portable and mobile communication technology.
The contract, initially established in 2015, is now extended through March 31, 2022. No minimum or maximum procurement is established under the contract, nor does the contract specify or guarantee purchase quantities or dates of equipment orders.
AHS provides health services throughout Alberta and is the largest provider of health care in Canada. The organization presently deploys a total of approximately 3,000 two-way communication devices in a range of applications such as hospitals, urgent care centers, psychiatric facilities and emergency vehicles.
BK President Tim Vitou commented, "One of our key strategic objectives is to establish a presence internationally. Having been a valued customer for the past several years, AHS provides a solid foundation from which to grow our business in Canada. We are pleased and excited that AHS has extended the contract, a clear indication of their confidence in BK, and look forward to continuing our relationship."
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 these 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 web site 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.
Company Contact:
Hayden IR
James Carbonara
james@haydenir.com
(646)-755-7412
SOURCE: BK Technologies Corporation
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FAQ
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