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BK Technologies Corporation (NYSE American: BKTI) is a distinguished leader in the public safety communications industry, catering to the needs of government agencies and public safety professionals worldwide. Headquartered in West Melbourne, Florida, the company specializes in the design, manufacturing, and marketing of high-specification communications equipment known for their exceptional reliability and value.
BK Technologies operates through two primary business units: the Radio business unit, which focuses on two-way land mobile radios (LMRs) for government and public safety markets, as well as industrial and commercial enterprises; and the SaaS business unit, which enhances first responders' safety and efficiency through innovative public safety smartphone applications.
The company’s product portfolio includes the BKR Series, featuring the BKR 5000 and BKR 9000 multiband radios, known for their compliance with APCO Project 25 specifications. These radios are utilized globally under the BK Radio and Relm brand names, supporting lifecycle upgrades and critical operations for various public safety agencies.
Recently, BK Technologies has experienced significant growth, as evidenced by their financial results for the third quarter of 2023, which saw a 68% increase in revenue and a return to profitability. The company has secured major purchase orders from prominent agencies such as the National Interagency Incident Communications Division and the Bureau of Land Management, reinforcing the demand and trust in their products.
In addition to their robust product lineup, BK Technologies continues to innovate with the introduction of the BKRplay IntelliPTT feature, which enables push-to-talk-over-broadband capabilities between smartphones and BKR Series radios. This advancement is set to enhance the operational capabilities of first responders significantly.
The company’s strategic move to outsource manufacturing to East West Manufacturing aims to simplify supply chain management, reduce production costs, and focus on core competencies in development and marketing. This transition is expected to improve gross margins and ensure uninterrupted production and shipping.
BK Technologies remains committed to serving public safety professionals with superior communications solutions. Their dedication to innovation, quality, and reliability continues to drive their growth and market presence.
For more information, visit their website at www.bktechnologies.com or contact them at 1-800-821-2900.
BK Technologies Corporation (BKTI) declared a quarterly dividend of $0.03 per share, up from $0.02, reflecting the company's financial strength and strategic confidence. This marks the twenty-third consecutive quarterly dividend and will be paid on January 24, 2022, to stockholders of record by January 10, 2022. Chairman General Gray Payne highlighted the importance of the capital return program in demonstrating the company’s commitment to its shareholders.
BK Technologies Corporation (NYSE American: BKTI) anticipates closing fiscal 2021 with record bookings exceeding $54 million. The company plans to ship and recognize revenue from these orders in 2021 and the first half of 2022. CEO John Suzuki highlighted strong demand for their portable communications technology, particularly the BKR 5000, leading to historic booking levels. BK Technologies manufactures reliable communications equipment for public safety professionals and government agencies, emphasizing its commitment to serving those in critical response roles.
BK Technologies Corporation (NYSE American: BKTI) has announced a $5 million share repurchase program approved by its Board of Directors. The program allows for immediate repurchases with no expiration, utilizing cash on hand and operational cash flow. CEO John Suzuki emphasized the commitment to shareholder value and capital allocation strategies aimed at growth in the first responder market. The timing and volume of repurchases will depend on market conditions and other factors.
BK Technologies Corporation (NYSE American:BKTI) has been selected by the Minnesota Department of Natural Resources (DNR) Division of Forestry to provide its BKR 5000 portable communications technology as part of a lifecycle replacement plan. This decision highlights BK Technologies' longstanding partnership with the DNR, which manages over 4.2 million acres of forest land. The BKR 5000 is designed for durability, reliability, and interoperability with existing BK radios, ensuring effective communication during wildfire management. The new technology is expected to enhance BK's presence in expanding vertical markets.
BK Technologies Corporation (NYSE American: BKTI) has been selected by the Wyoming State Forestry Division for its new BKR 5000 portable communications technology. This choice is part of the agency's lifecycle replacement program and aims to enhance their communications for State Trust Land Management and Fire Management programs. The BKR 5000 ensures seamless transition from older systems while providing durability and reliability. BK Technologies has a long-standing relationship with the agency, which manages 263,000 acres of trust land and 3.6 million acres of fire management.
BK Technologies Corporation (BKTI) announced its Q3 2021 financial results, reporting a slight revenue decrease to $12.6 million from $12.8 million in Q3 2020. The company noted a significant increase in backlog, over double from $5.9 million at the end of 2020, driven by demand for the BKR 5000 communications technology.
Despite strong order activity, BKTI faced supply chain challenges, impacting shipments and contributing to an operating loss of approximately $370,000 compared to a profit of $1.2 million in the prior year. The company reported a net loss of $2.6 million for the quarter.
BK Technologies Corporation (NYSE American: BKTI) announced a significant purchase order from the California Department of Forestry and Fire Protection for 500 KNG2 Series radios. This order reflects BK's commitment to supporting CAL FIRE's emergency communications needs as they oversee over 31 million acres and engage in a variety of emergency services throughout California. BK Technologies prides itself on manufacturing reliable communications equipment crucial for public safety professionals.
BK Technologies Corporation (NYSE American: BKTI) will hold an investor conference call on November 11, 2021, at 9:00 a.m. ET to discuss its operating results for the third quarter and nine months ended September 30, 2021. The financial results will be released prior to the call. Interested participants can join by dialing (888) 506-0062 (international: (973) 528-0011) using access code 272417. The call will also be webcast, with an archive available for 30 days. A replay will be accessible until November 18, 2021 with passcode 43435.
BK Technologies Corporation (NYSE American: BKTI) has appointed Sean Conroy as its new Director of Supply Chain, bringing nearly 20 years of industry experience. Conroy's previous roles included significant positions at Camaco Lorain Manufacturing and VEXOS. CEO John Suzuki emphasized the importance of effective supply chain management to meet strong product demand, stating that the company is committed to minimizing supply chain disruptions and enhancing long-term efficiency.
BK Technologies Corporation (NYSE American: BKTI) announced the selection of its new BKR 5000 portable communications technology by the Helena Fire Department in Montana. This purchase is part of the department's lifecycle program for replacing aging radios in its wildland fire fleet. President Tim Vitou emphasized the importance of reliable communication for effective operations in the region's diverse environments. The BKR 5000 offers customizable features, enhancing BK's market reach and growth potential.
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