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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) announced a new service contract with the U.S. Department of Agriculture Forest Service, replacing an expired contract. This contract allows for maintenance and repair of BK Technologies products, extending through June 13, 2024. It aims to ensure reliability for fire-suppression professionals and generates recurring service revenue. President Tim Vitou expressed satisfaction with the awarded contract, highlighting its importance for BK's ongoing relationship with the USFS and commitment to quality service.
BK Technologies Corporation (NYSE American: BKTI) has received 'fire approval' for its BKR 5000 communications technology from the U.S. National Interagency Fire Center (NIFC). This authorization allows the BKR 5000 to be utilized by federal employees and contractors engaged in wildland fire management. The device features Bluetooth, GPS, and a rugged design suitable for public safety communications. With a flexible platform and a range of accessories, BKTI aims to expand its market presence significantly.
BK Technologies Corporation (NYSE American: BKTI) has declared a quarterly dividend of $0.02 per share, payable on April 26, 2021. The record date for stockholders is April 12, 2021. This marks the company's twentieth consecutive quarterly dividend, reaffirming its commitment to returning capital to shareholders. BK Technologies operates in the public safety communications sector, manufacturing reliable equipment for professionals and agencies, emphasizing their dedication to service.
BK Technologies Corporation (NYSE American: BKTI) has secured a new contract with a municipal fire and rescue client in Idaho for its BKR 5000 Digital P-25 portable communications device. With 26% of homes in Idaho at high risk for wildfires, this development is crucial for enhancing emergency communication capabilities. The BKR 5000 features advanced functionalities, including Bluetooth and GPS, and is designed for rugged use. BK Technologies aims to leverage this product to expand its market presence and cater to new verticals.
BK Technologies Corporation (NYSE American:BKTI) announced a new order from a strategic customer in California for its BKR 5000 Digital P-25 portable communications technology. This order reflects BK's commitment to providing critical communication solutions for First Responders. The BKR 5000, designed for today's Public Safety communication needs, offers flexibility and customization. BK anticipates the BKR 5000 will boost its growth in new vertical markets. This press release also highlights the company’s focus on meeting market demands through innovative product development.
BK Technologies (BKTI) announced the acceptance of preorders for its new BKR 9000 multiband communications technology, aimed at the public safety market, from two new customers in Idaho. This product features innovative design elements, such as dual-mic noise cancellation and large buttons for easy use with gloves. President Tim Vitou expressed optimism for significant revenue growth, highlighting a goal of reaching $100 million in annual revenues. The BKR 9000 is developed to meet the specific needs of first responders and will be manufactured in the U.S.
BK Technologies Corporation (NYSE American: BKTI) has launched a new Technology Innovation Center in South Florida, focusing on developing communication technologies for public safety professionals. The center aims to complete the BKR 9000 this year, complementing the BKR 5000, and targeting an estimated market of $1.2 billion. Chief Technology Officer Dr. Branko Avanic leads a skilled team to advance BK's technology initiatives. President Tim Vitou highlighted this development as a strategic accomplishment to expand the company’s market footprint.
BK Technologies Corporation (NYSE American: BKTI) announced robust financial results for Q4 and FY 2020. Revenue surged by 10% to $44.1 million, with Q4 revenue up 43% year-over-year. Operating profit hit $0.9 million, significantly improving from a loss the previous year. Liquidity strengthened with cash and receivables rising to $13.3 million, up from $8.6 million in 2019. The company expects continued growth with the upcoming launches of new products, enhancing market reach and profit margins.
BK Technologies Corporation (BKTI) has secured a new strategic customer agreement with a major Texas city’s wildland fire department, showcasing its BKR 5000 Digital P-25 portable communications technology. This technology, part of a new multi-band product line, aims to enhance public safety communications amidst ongoing wildfire crises, which had an estimated economic impact of $130-$150 billion in 2020. The BKR 5000 offers tiered customization for mission-critical needs and aims to expand BK's market share in the public safety sector.
BK Technologies Corporation (NYSE American:BKTI) will host an investor conference call on March 4, 2021, at 9:00 a.m. EST to discuss its operating results for the fourth quarter and twelve months ending December 31, 2020. Timothy Vitou, President, and William Kelly, CFO, will lead the call. Financial results will be released after market close on March 3, 2021. Interested parties can join by calling 888-506-0062 (international: 973-528-0011) or via webcast at www.bktechnologies.com. A recording will be available post-call until March 11, 2021.
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