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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) reported a 21.7% increase in fourth-quarter revenue, reaching $12.8 million, compared to $10.6 million in Q4 2020. The company achieved record bookings of $55.5 million for 2021, with a backlog of $13 million, driven by demand for its BKR 5000 product line. However, gross profit margins fell to 36.2% due to rising costs. The full year ended with a net loss of $1.7 million, a decline from a net income of $194,000 in 2020. Inventory levels increased amidst supply chain constraints.
BK Technologies Corporation (NYSE American: BKTI) will host an investor conference call on March 17, 2022, at 9:00 a.m. ET to discuss its operating results for Q4 and the full year 2021. Prior to the call, the company will release its financial results. Participants can join by calling (888) 506-0062 or via webcast at www.bktechnologies.com. A replay will be available until March 24, 2022. BK Technologies specializes in communications equipment for public safety professionals.
BK Technologies Corporation (NYSE American:BKTI) has launched a new business unit focused on software-as-a-service (SaaS) solutions tailored for the public safety market. This initiative aims to offer subscription-based software designed for first responders using cellular networks. The company has also applied for three patents related to Push-To-Talk-Over-Cellular (POC). CEO John Suzuki highlighted the transformative impact of cellular LTE on public safety, while CTO Branko Avanavic emphasized the opportunity to leverage their R&D for innovative software solutions.
BK Technologies Corporation (NYSE American: BKTI) announced that CEO John Suzuki and CFO Bill Kelly will attend the 34th Annual ROTH Conference on March 14, 2022. The conference will take place both virtually and in-person at the Ritz Carlton in Laguna Niguel, California. Investors interested in participating can request a registration form via the provided link. BK Technologies specializes in manufacturing reliable communications equipment for public safety professionals and government agencies, emphasizing USA-made products.
BK Technologies Corporation (NYSE American: BKTI) has secured a purchase order from Marine Corps Base Camp Pendleton for its innovative BKR 5000 portable communications technology. This order is part of the base's life cycle replacement program for the Camp Pendleton Fire Department (CPFD), which consists of 175 first responders managing fire suppression, emergency medical response, and more. The BKR 5000 is designed to enhance communication capabilities in demanding environments, supporting BK Technologies' growth in new vertical markets.
BK Technologies Corporation (NYSE American: BKTI) has announced an amendment to its contract with a U.S. Department of Energy agency, increasing the contract ceiling from $4.2 million to $7 million. The revised one-year contract, effective from June 2021 and expiring in June 2022, allows for the provision of KNG2 and KNG Digital P-25 radios across over 35 sites in the U.S. This amendment reflects the agency's confidence in BK's technology, following BK's initial selection as a sole-source provider due to performance and pricing evaluations.
BK Technologies (NYSE American: BKTI) announced a purchase order from the Walla Walla Police Department for its BKR 5000 portable communications technology. This order was facilitated through Advanced Paging and Communications, an authorized dealer. Walla Walla, home to around 34,000 residents, will benefit from enhanced communication capabilities for its police officers. Tim Vitou, President of BK Technologies, expressed excitement about this new partnership, emphasizing the importance of reliable communication for public safety. BK Technologies manufactures high-quality communications equipment for first responders.
BK Technologies Corporation (NYSE American:BKTI) announced the retirement of Bill Kelly, Executive Vice President and Chief Financial Officer, after a 26-year tenure. Kelly will assist in the transition until June 30, 2022. His contributions have been instrumental in developing a strong finance organization. CEO John Suzuki acknowledged Kelly's impact, noting the company’s readiness for future success. BK Technologies focuses on manufacturing reliable communications equipment for public safety professionals.
BK Technologies Corporation (NYSE American: BKTI) has secured a $1.0 million purchase order from the U.S. Department of Agriculture Forest Service (USFS) for its new BKR 5000 portable communications technology. This order is part of a 5-year Blanket Purchase Agreement established in May 2021. Tim Vitou, president of BK Technologies, emphasized the importance of reliable communication in wildfire management and highlighted the BKR 5000's compatibility with legacy equipment. This contract signifies ongoing collaboration and confidence in BK Technologies' offerings.
BK Technologies Corporation (NYSE American: BKTI) appointed Inez M. Tenenbaum and R. Joseph Jackson to its board of directors, effective December 17, 2021. Tenenbaum, a former chairman of the U.S. Consumer Product Safety Commission, brings extensive expertise in consumer safety and education. Jackson, managing partner at Metrolina Capital Partners, has significant experience in private lending and real estate investments. The company aims to leverage their skills to drive growth and enhance governance as it serves public safety communications needs.
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