Bk Technologies, Inc. Stock Price, News & Analysis

BK Technologies Corporation (NYSE American: BKTI) announced pre-order activity for its BKR 9000, a multiband communications technology for public safety, receiving orders from Pilot Point Fire Department, Kenedy County Sheriff, and Tulare County Fire. CEO John Suzuki noted steady interest from both new and existing customers, emphasizing the technology's potential in rural areas with budget constraints. The BKR 9000 offers affordable communications solutions, targeting approximately 29,000 U.S. fire departments, particularly volunteer groups. Anticipated FCC certification is expected to facilitate broader market access.

BK Technologies Corporation (NYSE American: BKTI) announced the delivery of approximately 11,200 radios in Q4 2022, totaling 25,200 radios for the year, up from 22,500 in 2021. CEO John Suzuki highlighted exceeded delivery targets due to increased demand and enhanced production capacity. The company aims to deliver at least 32,000 radios in 2023. Chairman Kyle Cerminara noted strong demand for the BKR 5000 and anticipates launching the BKR 9000 soon. The company focuses on high-spec communications equipment for public safety and government agencies.

BK Technologies Corporation (NYSE American:BKTI) has announced the delivery of its BKR 9000, a next-generation multiband communication technology, for FCC certification. Chairman Kyle Cerminara highlighted the importance of this milestone, citing strong pre-order activity and potential for significant market expansion. The company aims for revenue of $100 million by 2025, supported by ongoing demand for its BKR 5000 technology. Development is occurring at their Innovation Center in South Florida, led by CTO Dr. Branko Avanic.

BK Technologies Corporation (BKTI) announced a $2 million Standing Offer Agreement with the Saskatchewan Public Safety Agency (SPSA) for portable communications technology. This agreement boosts BKTI's total order bookings for 2022 to a record $70 million, compared to $55.5 million in 2021. The contract runs from November 30, 2022, to November 30, 2024, with options for extensions. Additionally, BKTI secured its first task order worth $1.3 million for the BKR 5000 model, aimed at supporting Saskatchewan's Wildfire Management agency.

BK Technologies Corporation (NYSE American: BKTI) has launched its public safety smartphone app, BKRplay, for free on IOS and Android. The app features InteropONE, a universal Push-To-Talk Over Cellular service designed to enhance communication among first responders. Since its launch in mid-October, field trials have shown high satisfaction among various agencies, reducing emergency communication setup from days to under five minutes. The positive feedback underscores its potential to significantly improve public safety efficiency.

BK Technologies Corporation (NYSE American: BKTI) announced a $500,000 purchase order from the Santa Barbara County Fire Department for its BKR 5000 portable communications technology. This order is part of the department's lifecycle replacement program, crucial for enhancing communication in emergencies. CEO John Suzuki highlighted the company’s strong relationship with California fire agencies, emphasizing the need for reliable communication technology in the wildfire-prone state. The Santa Barbara County Fire District, protecting a vast area, relies heavily on effective communication for over 15,000 incidents annually.

BK Technologies (NYSE American:BKTI) announced a $1.4 million purchase order from the Washington State Department of Natural Resources for its BKR 5000 portable communications technology. This significant order follows a smaller one made in March 2022 for testing. CEO John Suzuki expressed satisfaction with the DNR's choice, highlighting the effectiveness of the BKR 5000 in diverse field operations. BK Technologies focuses on reliable communication equipment and innovative solutions for public safety professionals.

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.