Bk Technologies Corporation (NYSE:BKTI)

Bk Technologies Corporation (NYSE:BKTI) ($13.92; $49.1M market cap), announced two purchase orders totaling $9.1 million. 

 “...received two orders from the California Department of Forestry and Fire Protection ("CAL FIRE") totaling $9.1 million, for the purchase of BKR 5000 portable radios. These orders are a part of the agency's life cycle replacement program and represent a continuation of the migration from BK's KNG Series Portables.”

“CAL FIRE is a longstanding customer and we're pleased to continue our role supporting the upgrade and expansion of their radio fleet as they implement lifecycle replacements of their portable communications technology. California wildland fires present a very serious threat to millions of acres of geography and their surrounding communities. For many years, BK has partnered with CAL FIRE to supply high quality, reliable communications technology in support of their mission to protect and maintain California's expanse of wildlands and we look forward to continuing to support and enhance their critical portable communications platform."

BK Technologies Corporation, through its operating subsidiaries, designs and manufactures high-specification communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies. 

Reported Q4 2023 results:

• Sales of $16.3 million vs $20.3 million in the prior year 
• EPS of $0.08 vs loss of $0.28 in the prior year 
• While the quarterly results were not impressive, the company provided full year 2024 EPS guidance to exceed $1.50 per share. 

“We’re optimistic about the upcoming year which should be characterized by expanding gross margins, lower operating costs, and significantly improved profitability. With our visibility today, we believe we are on track to exceed earnings per share of $1.50 for full year 2024. In addition, we expect to see improved working capital as we transition our manufacturing and reduce inventory levels. Overall, we anticipate that 2024 will demonstrate continued profitability as we focus our efforts to establish the BKR9000 as a premier multiband radio in the market to drive additional revenue growth in the coming years.”

Bk Technologies Corporation (NYSE:BKTI) ($16.31; $55.4M market cap), a company that engages in the design, manufacturing, and marketing of wireless communications products in the United States and internationally, announced it was awarded a purchase order for 2,438 BKR5000 radios from the USDA Forest Service. 

“We are pleased to have received another purchase order from the USFS for our BKR 5000 portable radios, the second large lifecycle replacement order for BKR 5000 radios this quarter. The USFS is a valued and longstanding customer, and we appreciate the opportunity to continue partnering with them by providing efficient and reliable portable communications technology as the agency updates its communications systems."

First Quarter 2013 Results

• For the first quarter ended March 31, 2013, sales increased approximately 61.9%, or $2.7 million, to $7.1 million, compared with approximately $4.4 million for the first quarter last year.
• Net income for the first quarter ended March 31, 2013 improved approximately $806,000 to $405,000, or $0.03 per basic and diluted share, compared with a net loss of approximately ($401,000), or ($0.03) per basic share for the same quarter last year, an improvement of $0.06 per share quarter over quarter.

The Company had approximately $24.2 million in working capital as of March 31, 2013, of which approximately $9.5 million was comprised of cash and trade receivables. This compares with working capital of $23.6 million as of December 31, 2012, of which approximately $8.6 million was comprised of cash and trade receivables. The Company had no debt outstanding under its revolving credit facility at March 31, 2013.

RELM President and Chief Executive Officer David Storey commented, "We were very pleased with the improvement in our first quarter 2013 financial and operating results, particularly sales. The first quarter has historically been challenging for us. This year, we realized sales of KNG products to new customers in state and local public safety agencies, providing further evidence of our larger addressable market. These sales were well supplemented by sales of legacy products to U.S. Forest Service customers. With higher total sales and a strong mix of P25 digital products, our gross profit margins, at 45.7%, were significantly better than last year's first quarter. These factors combined to drive operating income of approximately $0.5 million, and meaningful turnaround from operating losses for the first quarter the last two years."

Mr. Storey continued, "The first quarter was a nice jump-start to the year, with indications that RELM's value proposition is being recognized. Our mission now is to capitalize on it with three strong quarters for the balance of the year. We have a strong funnel of sales prospects and new potential customers, made possible by our broad product offerings and larger addressable market. We look forward to gaining even more momentum in coming months."