BK Technologies Corporation - BKTI STOCK NEWS

BK Technologies reported record third-quarter bookings of $28 million for the period ending September 30, 2022, despite facing challenges due to Hurricane Ian that limited shipments. Revenue for the quarter amounted to $12 million, a 6% decline year-over-year. The gross profit margin decreased to 19% from 33% in the previous year, primarily due to increased material and freight costs. The company is optimistic about its $42 million backlog and the upcoming launch of its BKR 9000 product, as well as the introduction of the InteropONE service.

BK Technologies Corporation (NYSE American: BKTI) has appointed Scott Malmanger as its Chief Financial Officer, effective November 7, 2022. Malmanger, who has served as interim CFO since July 2022, brings extensive experience in strategic planning, M&A, and SaaS models. CEO John Suzuki emphasized his strategic fit for the company’s growth trajectory. Malmanger previously held CFO roles in companies like OneroRX and iCoreConnect. The company specializes in high-specification communication equipment for public safety roles and aims to enhance its product visibility.

BK Technologies Corporation (NYSE American: BKTI) has started full production of its KNG mobile series radios at its Melbourne, Florida facility, aiming for exclusive U.S. manufacturing by 2023. This expansion follows the enhancement of their printed circuit board assembly capabilities in April 2021. The in-house production is expected to improve quality control, reduce production costs, and streamline operations. CEO John Suzuki emphasized the strategic importance of these radios for their customer base and the benefits of improved supply chain management.

BK Technologies Corporation (NYSE American: BKTI) will host an investor conference call on November 3, 2022, at 9:00 a.m. ET to discuss its operating results for the third quarter and nine months ending September 30, 2022. Financial results will be released prior to the call. Interested parties can join by dialing (877) 545-0320 or via the webcast. An archive of the call will be available for 30 days post-event. BK Technologies specializes in high-specification communication equipment for public safety and government sectors.

BK Technologies Corporation (NYSE American: BKTI) has secured a $1.6 million purchase order from the California Department of Forestry and Fire Protection (CAL FIRE) for its BKR 5000 portable communications technology. This order aims to enhance CAL FIRE's communications as they respond to increasing wildfire activity. CEO John Suzuki emphasized the importance of the BKR 5000 in facilitating safe field operations for emergency responders. CAL FIRE protects over 31 million acres of California's wildlands and engages in various emergency services.

BK Technologies has launched InteropONE, the first Push-To-Talk Over Cellular (PTToC) service designed for seamless interoperability among first responders. This innovative service allows dynamic creation of user groups during emergencies without prior network setup. In collaboration with STREAMWIDE SA, InteropONE facilitates effective communication for incident response in critical situations. The application is accessible via smartphones and aims to enhance coordination during public safety incidents, addressing a significant market need.

BK Technologies Corporation (NYSE American: BKTI) has declared a quarterly dividend of $0.03 per share, scheduled for payment on November 8, 2022. This dividend will benefit stockholders of record as of October 25, 2022, marking the company's twenty-sixth consecutive quarterly dividend payment. The Chairman, Kyle Cerminara, emphasized the company's commitment to returning value to its shareholders. BK Technologies specializes in high-specification communication equipment for public safety and government entities.

BK Technologies Corporation (NYSE American: BKTI) has secured a $1.0 million purchase order from the Virginia Department of Forestry (VDOF) for its BKR 5000 portable communications technology. This marks the agency's initial order in a significant lifecycle replacement initiative aimed at updating their communications platforms. The BKR 5000 is designed for effective communication in challenging environments, aiding VDOF responders in managing over 700 wildfires annually. This contract emphasizes BK Technologies' commitment to supporting essential public safety operations.

BK Technologies Corporation (NYSE American: BKTI) announced a $7.8 million purchase order from the U.S. Department of Agriculture Forest Service for its BKR 5000 portable communications technology. This order is part of a 5-year Blanket Purchase Agreement and follows recent USFS orders worth $8.9 million. Year-to-date, BK Technologies has surpassed $60 million in new order bookings, breaking its previous record of $55.5 million set in 2021. The CEO emphasized the company's strong relationship with the USFS and the importance of reliable communication in challenging environments.