BK Technologies Receives Two Purchase Orders for BKR 5000 Radios from the California Department of Forestry and Fire Protection for a Total Order Value of $9.1 Million
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 received $9.1 million in new orders from CAL FIRE.
- Orders are part of CAL FIRE's lifecycle replacement program.
- CAL FIRE has purchased over 6,500 BKR 5000 radios since 2022.
- BK Technologies maintains a strong, ongoing relationship with CAL FIRE.
- Company plays a important role in supporting CAL FIRE's wildfire and emergency response operations.
- Transition from KNG Series Portables indicates potential previous product obsolescence.
- Recent orders, though significant, are part of an ongoing program, not new market expansion.
Insights
Receiving an order worth
From a financial perspective, this order will likely have an immediate positive impact on BK Technologies' quarterly revenue. It is essential to note that this order is part of a lifecycle replacement program, suggesting recurring revenue over the long term. However, investors should also consider the competitive landscape and whether BK can secure similar large-scale contracts with other agencies.
Furthermore, the order's announcement can boost investor confidence, potentially positively influencing BK Technologies' stock price in the short term.
This substantial order from CAL FIRE speaks volumes about BK Technologies' market position in the public safety and communication equipment sector. The BKR 5000's selection over other products underscores the trust and effectiveness perceived by CAL FIRE. This could lead to improved market penetration and serve as a case study to attract other state and federal agencies.
Investors should also consider the broader implications for BK Technologies. Securing this order validates their technology in highly demanding environments, which could translate into increased brand equity and market share. However, it remains important to monitor how the company leverages this success to gain further contracts and expand its customer base.
Strategically, this aligns well with trends in public safety, where there is a growing emphasis on reliable, high-quality communication tools. As states look to modernize their emergency response infrastructure, BK Technologies appears well-positioned to capitalize on this trend.
WEST MELBOURNE, FL / ACCESSWIRE / May 29, 2024 / BK Technologies Corporation (NYSE American:BKTI) (the "Company" or "BK Technologies") today announced that it has received two orders from the California Department of Forestry and Fire Protection ("CAL FIRE") totaling
John Suzuki, CEO of BK Technologies, commented, "CAL FIRE is a longstanding customer and we're pleased to continue our role supporting the upgrade and expansion of their radio fleet as they implement lifecycle replacements of their portable communications technology. California wildland fires present a very serious threat to millions of acres of geography and their surrounding communities. For many years, BK has partnered with CAL FIRE to supply high quality, reliable communications technology in support of their mission to protect and maintain California's expanse of wildlands and we look forward to continuing to support and enhance their critical portable communications platform."
The California Department of Forestry and Fire Protection (CAL FIRE) is dedicated to the fire protection and stewardship of over 31 million acres of California's privately-owned wildlands. In addition, the Department provides varied emergency services in 36 of the State's 58 counties via contracts with local governments. The Department's fire prevention program consists of multiple activities including wildland pre-fire engineering, vegetation management, fire planning, education and law enforcement. Beyond its wildland firefighting role, CAL FIRE is an "all-risk" department, and will dispatch an engine and crew to the scene of an auto accidents; hazardous material spills; swift water rescues; search and rescue missions; civil disturbances; train wrecks; floods, earthquakes and more.
About BK Technologies
BK Technologies Corporation, through its operating subsidiaries, designs and manufactures high-specification communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies. BK Technologies' SaaS business focuses on new, innovative public safety smartphone services that will make the first responders safer or more productive. BK Technologies is honored to serve these heroes when every moment counts. The Company's common stock trades on the NYSE American market under the symbol "BKTI". Maintaining its headquarters and primary manufacturing facility 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
Litigation Reform Act of 1995. These forward-looking statements concern the Company's operations, economic performance, and financial condition, including, but not limited to the Company's long-term strategic plan, 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 include, among others, the following: changes or advances in technology; the success of our land mobile radio product line and SaaS business segment; disruption in the global supply chain creating delays, unavailability and adverse conditions; successful introduction of new products and technologies, including our ability to successfully develop and sell our new multiband product and other related products in the BKR Series product line and the Company's SaaS solutions; competition in the land mobile radio industry; general economic and business conditions, including higher inflation and its impacts, federal, state and local government budget deficits and spending limitations, any impact from a prolonged shutdown of the U.S. Government, the effects of natural disasters, changes in climate, severe weather events, geopolitical events, acts of war or terrorism, global health epidemics or pandemics and catastrophic events, as well as the broader impacts to financial markets and the global macroeconomic and geopolitical environments; 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 to consummate, acquisition, disposition or investment transactions, and risks incumbent to being a noncontrolling interest stockholder in a corporation; impact of natural disasters, changes in climate, severe weather events, geopolitical events, acts of war or terrorism, global health epidemics or pandemics and catastrophic events 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; impact of 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; our inventory and debt levels; protection of our intellectual property rights; fluctuation in our operating results and stock price; 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, 2022, 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 statement.
Company Contact:
IMS Investor Relations
John Nesbett/Jennifer Belodeau
bktechnologies@imsinvestorrelations.com
(203) 972-9200
SOURCE: BK Technologies Corporation
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