BK Technologies Awarded Service Contract from the USDA Forest Service
BK Technologies Corporation (BKTI) announced a new service contract with the U.S. Department of Agriculture Forest Service, replacing an expired contract. This contract allows for maintenance and repair of BK Technologies products, extending through June 13, 2024. It aims to ensure reliability for fire-suppression professionals and generates recurring service revenue. President Tim Vitou expressed satisfaction with the awarded contract, highlighting its importance for BK's ongoing relationship with the USFS and commitment to quality service.
- Secured a new service contract with the U.S. Department of Agriculture Forest Service, ensuring continued revenue.
- Contract extends through June 13, 2024, providing future revenue stability.
- Strengthens relationship with government agencies, potentially increasing future business opportunities.
- None.
WEST MELBOURNE, FL / ACCESSWIRE / March 26, 2021 / BK Technologies Corporation (NYSE American:BKTI) today announced that it has been awarded a new service contract by the United States Department of Agriculture Forest Service (USFS) for the maintenance and repair of BK Technologies products. Replacing the previous service contract, which expired, the new contract provides for a period of performance extending through June 13, 2024 and does not specify firm service dates or quantities. In addition to the USFS, the contact is available for use by all agencies within the U.S. Department of Agriculture.
BK President Tim Vitou commented, "We are very pleased to be awarded this service contract, extending our longstanding relationship with the USFS and other agencies within the U.S. Department of Agriculture. The contract enables us to maintain our high standard of reliability for fire-suppression professionals who depend upon BK products in life-threatening circumstances, while also providing us with recurring service revenue for several years. We look forward to continuing our valued relationship with the USFS and all our customers that rely upon this contract."
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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