BK Technologies Receives $1.1 Million Order from Tennessee State Agency For New BKR 5000 Portable Radio for First Responders

Rhea-AI Summary

BK Technologies Corporation (NYSE American: BKTI) announced a significant $1.1 million order from a Tennessee state agency for its newly launched BKR 5000 Digital P-25 portable radio. This marks the first order of this model, which was launched just one month ago. The BKR 5000, designed for public safety communications, includes advanced features like Bluetooth and GPS, and is expected to enhance BKTI's growth in new vertical markets. The fulfillment is anticipated in the fourth quarter of 2020.

Positive

• First-time customer order worth $1.1 million shortly after product launch.
• BKR 5000 designed with input from public safety professionals, enhancing user experience.
• Potential for expanded growth with the introduction of multi-band products next year.

Negative

• None.

-Adds First Time Customer One-Month After Launch of the BKR 5000-
-BKR 5000 First Model in New Line of Radios Incorporating Multi-Band Products Next Year-

WEST MELBOURNE, FL / ACCESSWIRE / October 6, 2020 / BK Technologies Corporation (NYSE American:BKTI) today announced that its operating subsidiary received an order totaling approximately $1.1 million from an agency of the state of Tennessee. The order is for BK's new BKR 5000 Digital P-25 portable radio with related accessories and is anticipated to be fulfilled during the fourth quarter of 2020.

BK President Tim Vitou commented, "We are particularly excited about this order because it calls for our new BKR 5000 portable radio that was launched just last month, and the Tennessee State Agency is a first-time BK customer. The BKR 5000 is just the initial model in a comprehensive new line of radios, which will include multi-band products next year. Securing such a substantial order from a new customer shortly after a new product launch is very promising, and we look forward to capitalizing on our early momentum."

The BKR 5000 comes in three tiers allowing maximum flexibility and customization for the radio user's mission-critical needs and has been designed to meet the requirements of today's tough Public Safety communications environment. The BKR 5000 was designed and developed by the BK Technologies engineering team with extensive input from customers to incorporate the features and options needed by first responders, including Bluetooth, GPS, and BK's long-popular cloning capability. The new form factor includes a top-display, large control buttons for use with heavy gloves, and an IP68 ruggedized housing available in either black or optic yellow. The new intuitive user interface maintains the same ease-of-use characteristics that have been customer-proven and well accepted in the current BKTI products, software, and programming editors; which further allows for an easy transition from current BKTI products to the new BKR Series.

A full line of accessories is available including intelligent battery and charging solutions, IP68 remote speaker microphones, and the popular BK wildland fire alkaline battery "clamshell". The new BKR 5000 is expected to be a platform that enhances BK's ability to address significant new vertical markets leading to expanded growth and market share.

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 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, 2019 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

View source version on accesswire.com:
https://www.accesswire.com/609168/BK-Technologies-Receives-11-Million-Order-from-Tennessee-State-Agency-For-New-BKR-5000-Portable-Radio-for-First-Responders

FAQ

What is the significance of the $1.1 million order for BK Technologies (BKTI)?

The $1.1 million order from a Tennessee agency represents a major milestone for BK Technologies, marking the first order for their newly launched BKR 5000 portable radio.

When is the expected fulfillment date for BKTI's recent order?

The order is anticipated to be fulfilled during the fourth quarter of 2020.

What features does the BKR 5000 portable radio include?

The BKR 5000 includes features such as Bluetooth, GPS, and a rugged design, catering to the needs of first responders.

How does the BKR 5000 contribute to BK Technologies' market growth?

The BKR 5000 is expected to enhance BK Technologies' ability to address new vertical markets, leading to expanded growth and market share.