Welcome to our dedicated page for Bk Technologies news (Ticker: BKTI), a resource for investors and traders seeking the latest updates and insights on Bk Technologies stock.
BK Technologies Corporation (NYSE American: BKTI) is a Nevada-incorporated holding company that, through its subsidiaries, designs and manufactures high-specification communications equipment for public safety professionals and government agencies. As a provider of advanced public safety communications solutions, the company regularly issues news on product deployments, customer orders, financial performance and corporate developments.
News about BK Technologies often highlights its BKR Series land mobile radios and the BK ONE family of solutions. Recent releases have described significant purchase orders from the USDA Forest Service for BKR 5000 handheld radios, growing market recognition for the BKR 9000 multiband portable radio, and field deployments of InteropONE and RelayONE during multi-agency fire and aviation training exercises. These updates illustrate how the company’s equipment and solutions are used in wildland fire operations and other mission-critical environments.
Investors and analysts following BKTI can also find regular coverage of quarterly results, earnings calls and guidance updates. The company reports on revenue trends, gross margin performance and non-GAAP metrics, and announces conference calls and webcasts to discuss its financial and operating results. Additional news items include participation in investor and technology conferences, board and executive appointments, and approvals of equity incentive and employee stock purchase plans.
This news page aggregates BK Technologies’ press releases and related coverage so readers can review the company’s operational updates, major contracts, Solutions business milestones and capital markets activities in one place. For those tracking public safety communications providers and government-focused radio manufacturers, BKTI news offers insight into order activity, product adoption and corporate governance actions over time.
BK Technologies Corporation (NYSE American: BKTI) announced a 1-for-5 reverse stock split effective April 21, 2023. This action aims to enhance the stock's market price and accessibility for investors, particularly those facing challenges with holding shares below $5. The split will reduce the number of shares from approximately 17 million to about 3.4 million, with authorized shares decreasing from 50 million to 10 million. Stockholders will not need to take action, as fractional shares will be rounded up to the nearest whole share. The initiative aligns with the company's goal to improve its shareholder base and overall stock market presence.
BK Technologies Corporation (NYSE American: BKTI) will attend the International Wireless Communications Expo (IWCE) 2023 in Las Vegas from March 27 to March 30, showcasing its innovative products. The company will exhibit the BKR 9000 multiband portable radio and its new InteropONE service, enhancing group communications for first responders. Stephen Theisen, VP of Sales, emphasized the significance of IWCE in public safety communications. The event is expected to draw over 5,000 attendees. BK Technologies manufactures reliable communication equipment and is committed to supporting public safety professionals.
BK Technologies reported record revenue of $51 million for 2022, up 12% year-over-year, with fourth-quarter revenue at $20.3 million, a 58% increase from last year. The fourth quarter's gross margin was 22%, down from 36% due to material and freight cost increases. The company closed 2022 with a backlog of $27 million, double the previous year's $13 million. Operating loss for 2022 totaled ($11.1 million), compared to ($1.2 million) in 2021. The board has suspended the quarterly dividend to focus resources on growth. CEO John Suzuki emphasized the company's adaptability amid supply chain challenges and strong demand for its BKR product line.
BK Technologies Corporation (NYSE American: BKTI) has announced its first purchase order for the InteropONE PTToC service from a major public safety agency in a top five U.S. metropolitan area. This service enhances multi-agency incident responses by allowing first responders to communicate seamlessly, regardless of their cellular network or existing PTToC services.
CEO John Suzuki highlighted that this order follows successful field trials, emphasizing the service's ability to connect various agencies for effective emergency communication. BK Technologies aims to improve public safety and ensure swift response times through its innovative services.
BK Technologies Corporation (NYSE American:BKTI) announced a reseller agreement with WidePoint Corporation for the resale of its InteropONE PTToC service to the U.S. Department of Homeland Security (DHS) and the U.S. Department of State. This service enhances communication among first responders by enabling dynamic user group creation without network pre-provisioning. Under WidePoint's CWMS contract, multiple agencies like the U.S. Coast Guard and FEMA will utilize this service. Both companies express optimism about the collaboration, citing favorable initial feedback from ongoing field trials and the increasing reliance on smartphone communications in emergency scenarios.
BK Technologies Corporation (NYSE American: BKTI) announced a $1.4 million purchase order from the Washington State Department of Natural Resources (DNR) for its BKR 5000 portable communications technology. This follows a similar order made in December 2022, also valued at $1.4 million. CEO John Suzuki emphasized the DNR's long-standing relationship with BK Technologies, noting their reliance on the BKR 5000 for wildland fire suppression and emergency response. The DNR plays a crucial role in managing Washington's natural resources, supporting over 600 personnel in wildfire efforts across more than 13 million acres.
BK Technologies Corporation (NYSE American: BKTI) will host an investor conference call on March 16, 2023, at 9:00 a.m. ET to discuss its operating results for the fourth quarter and the full year ended December 31, 2022. Prior to the call, the company will release its financial results. Interested parties can join the call by dialling (888) 506-0062, with international participants using (973) 528-0011 and access code: 211913. The call will also be available via a webcast. An online archive will be accessible for 30 days after the call. BK Technologies specializes in manufacturing reliable communications equipment for public safety professionals.
BK Technologies Corporation (NYSE American: BKTI) announced its participation in the 35th Annual Roth Conference at the Ritz Carlton, Laguna Niguel, California, on March 13 and March 14. CEO John Suzuki and CFO Scott Malmanger will hold one-on-one meetings with interested investors.
Investors can request a registration form for the conference via the provided link. BK Technologies specializes in American-made communications equipment and SaaS solutions aimed at enhancing public safety for first responders. The company is headquartered in West Melbourne, Florida, and its stock trades under the symbol BKTI.
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.