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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 that Portland Fire & Rescue has chosen its new BKR 5000 portable communications technology for deployment. This technology, designed for public safety, is customizable and meets the rigorous demands of emergency services. BK President Tim Vitou highlighted the importance of robust communications in critical situations. The BKR 5000 features various accessories and aims to expand BK's presence in new markets, enhancing growth opportunities.
BK Technologies Corporation (NYSE American: BKTI) has announced that the Montana Department of Natural Resources and Conservation will deploy its new BKR 5000 portable communications technology across its Fire Protection and Forestry Conservation divisions. This order underscores the agency's trust in BK's products, which it has used since the 1980s. The BKR 5000 features customizable options for public safety needs and enhances BK's position in new vertical markets. The company focuses on manufacturing reliable communications equipment for public safety professionals.
BK Technologies Corporation has announced that the Illinois Division of Forestry Resources will deploy its new BKR 5000 portable communications technology for wildland fire suppression. This technology aims to support communication across over 4.8 million acres of forest. The BKR 5000 offers customizable solutions for public safety needs and includes a complete line of accessories. BK Technologies is positioned to expand its market share through this initiative, emphasizing their commitment to reliable communications for first responders.
BK Technologies Corporation (NYSE American: BKTI) announced the closing of its public offering of 4,249,250 shares at a price of $3.00 per share, generating $12.75 million in gross proceeds. The offering included an over-allotment option fully exercised by underwriters. The net proceeds will be utilized for general corporate purposes, including working capital and potential acquisitions. This offering was conducted under an effective shelf registration with the SEC, and final documents were filed on June 8, 2021.
BK Technologies Corporation (BKTI) has announced a public offering of 3,695,000 shares at a price of $3.00 each, aiming for gross proceeds of $11,085,000. The offering is set to close on June 9, 2021, pending standard closing conditions. Underwriters have a 45-day option for an additional 554,250 shares. Proceeds will support general corporate purposes, including working capital and potential acquisitions. The offering complies with SEC regulations under a shelf registration statement.
BK Technologies Corporation (NYSE: BKTI) announced its intention to conduct an underwritten public offering of its shares of common stock. The offering, managed by ThinkEquity, includes a potential 15% over-allotment option. Proceeds will be utilized for general corporate purposes including working capital and strategic investments. The offering is subject to market conditions and is based on a previously filed shelf registration statement with the SEC. Investors are advised to review the preliminary prospectus for complete details.
BK Technologies Corporation (NYSE American: BKTI) announced that the Nevada Division of Forestry has selected its new BKR 5000 portable communications technology for deployment. This technology is crucial for the management of over 20 million acres of federal land in Nevada. The BKR 5000 features customizable options to meet mission-critical needs for public safety. BK Technologies aims to expand its market share and growth through this product, which includes a range of accessories. The company continues to focus on providing reliable communications solutions for public safety professionals.
BK Technologies Corporation announced that the Washington Department of Fish & Wildlife (WDFW) has selected its BKR 5000 digital P-25 portable communications technology. This model, designed for public safety, offers customizable features for mission-critical needs. BK President Tim Vitou emphasized the importance of reliable communications over WDFW's extensive land area. The BKR 5000 will help BK expand into new markets, and accessories are available to enhance functionality. The company’s stock trades under the symbol BKTI on NYSE American.
BK Technologies Corporation (NYSE American: BKTI) has secured a 5-year blanket purchase agreement (BPA) from the USDA Forest Service worth up to $50 million. This agreement, effective until May 6, 2026, allows the USDA to procure necessary communications technology without guaranteeing specific purchase quantities. BK's President highlighted their compliance with unique requirements like NIFC approval and a GSA Contract vehicle, positioning BK Technologies as a key supplier for replenishing communication systems essential for public safety operations.
BK Technologies Corporation (NYSE American: BKTI) reported its Q1 2021 results, revealing revenue of approximately $8.6 million, a decrease from $10.9 million in Q1 2020 due to order delays and supply chain disruptions. Despite these challenges, gross profit margin remained steady at 36%. Cost management led to a 16% reduction in selling, general, and administrative expenses, totaling $4.0 million. The net loss improved to $(0.7) million, or $(0.06) per share, from $(1.2) million, or $(0.09) per share, last year. Anticipated product launches are expected to drive future revenue growth.
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