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BK Technologies Corporation reports developments in public safety communications equipment and solutions for government agencies and first responders. The company’s Land Mobile Radio products include portable and mobile radio devices for private P25-compliant radio systems, with product news centered on the BKR multiband platform, including the BKR 9000 handheld radio and BKR9500 in-vehicle multiband radio.
BK Technologies news also covers the Solutions business unit, the BK ONE family of offerings that combines land mobile radio with LTE/5G connectivity, and software products such as LocateONE LITE for team location awareness. Recurring updates include financial results, order activity from government customers, product introductions, investor presentations, capital allocation and annual-meeting governance matters.
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.
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.