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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 (NYSE American: BKTI) announced its BKR 5000 portable communications technology has been selected by the U.S. Army for deployment at Camp Arifjan in Kuwait. This camp supports military operations and humanitarian efforts and is crucial for troops returning from Iraq. The BKR 5000 is designed for extreme desert conditions and offers customizable features tailored for public safety communications. BK Technologies aims to leverage this contract to enhance its market share and growth, demonstrating the reliability of its American-made equipment.
BK Technologies Corporation (NYSE American:BKTI) announced that the Nevada Bureau of Land Management has selected its BKR 5000 model for its fire and land management communications technology update. The BKR 5000 offers flexibility and customization to meet critical communication needs in the public safety sector. The agency's decision reinforces BK Technologies' reputation for providing reliable communication solutions, contributing to efficiency in managing Nevada's extensive public lands. This partnership could enhance BK's market presence and growth in new vertical markets.
BK Technologies Corporation (NYSE American: BKTI) has declared a quarterly dividend of $0.02 per share for its common stock, scheduled for payment on October 18, 2021. Stockholders of record as of October 7, 2021 will receive this dividend, marking the company's twenty-second consecutive quarterly dividend. General Gray Payne, Chairman of the Board, expressed satisfaction with this continuation of the capital return program, emphasizing the company's commitment to its shareholders.
BK Technologies Corporation (NYSE American: BKTI) has received an order from the Mississippi Forestry Commission for its BKR 5000 portable communications technology. This order is part of the Commission's lifecycle replacement program, reflecting the ongoing partnership between the two entities. The BKR 5000 is recognized for its reliability and flexibility, critical for effective communication in public safety. With an emphasis on enhancing operational capabilities, this order supports forest management and wildfire suppression efforts across Mississippi's vast forestland, encompassing approximately 20 million acres.
BK Technologies Corporation (NYSE American: BKTI) announced that the Arizona Department of Forestry and Fire Management has selected its new BKR 5000 portable communication technology for deployment. This decision enhances BK's long-standing partnership with the agency as it begins a lifecycle replacement program. The BKR 5000 offers improved communication reliability and interoperability with existing BK radios. With customizable options for first responders, this technology aims to improve public safety communications and expand BK's market share in critical sectors.
BK Technologies Corporation (BKTI) announced that Grand Teton National Park has selected its BKR 5000 portable communications technology for its Wildland Fire Management program. This partnership highlights BK's ongoing role in enhancing communication capabilities for fire management across the park's 310,000 acres. The BKR 5000 offers interoperability with legacy radios and significant customization options. President Tim Vitou emphasized the importance of reliable communication technology for operational safety. This deployment signifies BK's commitment to public safety and may enhance opportunities for growth in new markets.
BK Technologies Corporation (BKTI) announced a purchase order from the National Interagency Fire Center (NIFC) for its new BKR 5000 portable communications technology. The NIFC, which manages the largest civilian radio cache globally, plays a critical role in supporting various emergency and disaster response operations. BK Technologies has a longstanding relationship with NIFC and emphasizes the BKR 5000's reliability and range for diverse applications. This partnership highlights BKTI's commitment to providing essential communications equipment for public safety.
BK Technologies Corporation (BKTI) reported a 14% increase in second-quarter revenue to $11.3 million, up from $9.9 million in Q2 2020. Sequentially, revenue grew 32% from Q1 2021. Despite strong order activity, the company faced supply chain challenges impacting shipment times. The gross profit margin decreased to 37% from 44% year-over-year, primarily due to cost increases. However, the company achieved net income of $1.7 million this quarter, compared to a net loss of $302,000 last year. The firm is gearing up for the launch of its BKR 9000 multiband communications technology.
BK Technologies Corporation (NYSE American: BKTI) announced a significant $2.5 million purchase order from the United States Department of Agriculture Forest Service for its BKR 5000 portable communications technology. This order is part of a 5-year Blanket Purchase Agreement established in May 2021. President Tim Vitou emphasized the importance of reliable communication technology in managing wildfires, highlighting the agency's confidence in BK Technologies' equipment. The company is committed to supporting public safety professionals with high-quality, American-made communications solutions.
BK Technologies (NYSE American: BKTI) will hold an investor conference call on August 12, 2021, at 9:00 a.m. EDT to discuss its financial results for the second quarter and six months ended June 30, 2021. Key executives, including CEO John Suzuki and CFO William Kelly, will participate in the call. The company will release its operating results before the call. Interested parties can join by dialing (844) 407-9500, with international participants using (862) 298-0850. A webcast will also be available at www.bktechnologies.com.
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