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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) will hold an investor conference call on August 11, 2022, at 9:00 a.m. ET to discuss its operating results for the second quarter and six months ended June 30, 2022. The financial results will be released prior to the call. Interested parties can join via phone or web, with international participants provided with specific dialing instructions. A replay will be available for one hour after the call until August 18, 2022. The company focuses on manufacturing high-quality communications equipment for public safety professionals.
BK Technologies Corporation (NYSE American: BKTI) announced six purchase orders worth approximately $8.9 million from the United States Department of Agriculture Forest Service (USFS). These orders are part of a five-year blanket purchase agreement aimed at upgrading USFS's communication systems with the BKR 5000 portable communications technology. Additionally, BK Technologies has opened a second production line for the BKR 5000 at its West Melbourne, Florida facility to meet the increased demand and alleviate backlog.
BK Technologies Corporation (NYSE American: BKTI) has declared a quarterly dividend of $0.03 per common share, payable on August 8, 2022, to stockholders on record as of July 25, 2022. This marks the company's 25th consecutive quarter of dividend payments, reflecting its commitment to returning value to shareholders, according to Chairman Kyle Cerminara. BK Technologies specializes in high-quality communications equipment for public safety and government entities, showcasing a deep commitment to serving these professionals.
BK Technologies Corporation (NYSE American: BKTI) announced the appointment of Kyle Cerminara as the new Chairman of the Board, succeeding Major General (Ret.) E. Gray Payne who remains a board member. Cerminara has over 20 years of financial and managerial experience and previously served as Chairman from 2017 to 2020. He co-founded Fundamental Global, the largest stockholder of BK Technologies. The company, headquartered in West Melbourne, FL, manufactures high-specification communications equipment for public safety professionals.
BK Technologies announced the appointment of Scott Malmanger as interim Chief Financial Officer, effective July 1, 2022, following the retirement of Bill Kelly. Malmanger has extensive experience in strategic planning, M&A, and public company reporting, having previously served as CFO for OneroRX and iCoreConnect. He will guide the company during a transitional phase, with Kelly remaining as an advisor. The company continues its search for a permanent CFO, aiming to enhance financial strategies amidst growth opportunities.
BK Technologies Corporation reported record first quarter bookings of $15.7 million driven by strong demand for the BKR 5000 line amidst ongoing supply chain constraints. Revenue decreased by 23.1% to $6.6 million, with a gross profit margin of 22.4%. The company faced an operating loss of ($3.4 million) and a net loss of ($3.9 million), reflecting challenges in converting orders to revenue. Additionally, BK launched a new SaaS solutions business unit targeting the public safety market and ended the quarter with $6.4 million in cash and minimal debt.
BK Technologies Corporation (NYSE American: BKTI) will host an investor conference call on May 12, 2022, at 9:00 a.m. ET, to discuss its first-quarter operating results for the period ending March 31, 2022. The Company plans to release its financial results before the call. Interested parties can join the call by dialing (888) 506-0062 or (973) 528-0011 for international participants. The call will also be webcast on the Company’s website, with an online archive available for 30 days after.
BK Technologies manufactures high-quality communications equipment for public safety, ensuring reliable service for professionals in critical situations.
BK Technologies Corporation (NYSE American:BKTI) has received a $1.7 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 established in May 2021, supporting the agency's migration to newer communications platforms.
BK Technologies aims to enhance communications for wildland fire management, ensuring safety and efficiency for field personnel.
BK Technologies Corporation (NYSE American: BKTI) has declared a quarterly dividend of $0.03 per share, payable on May 16, 2022, to shareholders of record by May 2, 2022. This marks the company's twenty-fourth consecutive quarterly dividend, highlighting its commitment to returning capital to investors. The company specializes in manufacturing reliable communications equipment for public safety and government agencies, emphasizing its dedication to serving these important sectors.
BK Technologies Corporation announced the appointment of James Teel as the leader of its new software-as-a-service (SaaS) solutions unit. Teel, with over 30 years in wireless communications, previously held key roles at L3Harris Corporation and has significant experience in launching SaaS businesses. CEO John Suzuki emphasized the strategic importance of this appointment, aiming to enhance first responder technology and capture market share. Teel expressed enthusiasm for leveraging BK's established market position to deliver new subscription-based software solutions.
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