Bk Technologies, Inc. Stock Price, News & Analysis

BK Technologies announced the appointment of Scott Malmanger as interim Chief Financial Officer, effective July 1, 2022, following the retirement of Bill Kelly. Malmanger has extensive experience in strategic planning, M&A, and public company reporting, having previously served as CFO for OneroRX and iCoreConnect. He will guide the company during a transitional phase, with Kelly remaining as an advisor. The company continues its search for a permanent CFO, aiming to enhance financial strategies amidst growth opportunities.

BK Technologies Corporation reported record first quarter bookings of $15.7 million driven by strong demand for the BKR 5000 line amidst ongoing supply chain constraints. Revenue decreased by 23.1% to $6.6 million, with a gross profit margin of 22.4%. The company faced an operating loss of ($3.4 million) and a net loss of ($3.9 million), reflecting challenges in converting orders to revenue. Additionally, BK launched a new SaaS solutions business unit targeting the public safety market and ended the quarter with $6.4 million in cash and minimal debt.

BK Technologies Corporation (NYSE American: BKTI) will host an investor conference call on May 12, 2022, at 9:00 a.m. ET, to discuss its first-quarter operating results for the period ending March 31, 2022. The Company plans to release its financial results before the call. Interested parties can join the call by dialing (888) 506-0062 or (973) 528-0011 for international participants. The call will also be webcast on the Company’s website, with an online archive available for 30 days after.

BK Technologies manufactures high-quality communications equipment for public safety, ensuring reliable service for professionals in critical situations.

BK Technologies Corporation (NYSE American:BKTI) has received a $1.7 million purchase order from the U.S. Department of Agriculture Forest Service for its BKR 5000 portable communications technology. This order is part of a 5-year Blanket Purchase Agreement established in May 2021, supporting the agency's migration to newer communications platforms.

BK Technologies aims to enhance communications for wildland fire management, ensuring safety and efficiency for field personnel.

BK Technologies Corporation (NYSE American: BKTI) has declared a quarterly dividend of $0.03 per share, payable on May 16, 2022, to shareholders of record by May 2, 2022. This marks the company's twenty-fourth consecutive quarterly dividend, highlighting its commitment to returning capital to investors. The company specializes in manufacturing reliable communications equipment for public safety and government agencies, emphasizing its dedication to serving these important sectors.

BK Technologies Corporation announced the appointment of James Teel as the leader of its new software-as-a-service (SaaS) solutions unit. Teel, with over 30 years in wireless communications, previously held key roles at L3Harris Corporation and has significant experience in launching SaaS businesses. CEO John Suzuki emphasized the strategic importance of this appointment, aiming to enhance first responder technology and capture market share. Teel expressed enthusiasm for leveraging BK's established market position to deliver new subscription-based software solutions.

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.