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Butler National Corporation reports developments in aerospace products, aircraft modification and gaming management services. Its Aerospace Products segment designs, manufactures, sells and services structural aircraft modifications, electronic equipment integrations, defense-related articles and FAA Repair Station work for Learjet, Textron Beechcraft, King Air and Textron Cessna turboprop aircraft.
Recurring news includes quarterly financial results, FAA, EASA and CAA Supplemental Type Certificate approvals, Avcon and Butler Avionics special-mission aircraft modifications, non-halon fire extinguisher installations, Cessna Caravan camera and sensor ports, stock repurchases and corporate governance guidelines. The Professional Services segment manages the Boot Hill Casino and Resort gaming, dining, entertainment and sportsbook facility in Dodge City, Kansas.
Butler National (BUKS) reported financial results for Q2 FY2025 ended October 31, 2024. Revenue increased 9% to $21.4 million, driven by a 19% surge in Aerospace Products revenue to $11.7 million, while Professional Services revenue decreased 1% to $9.7 million.
Operating income rose 35% to $4.9 million, though net income decreased to $3.6 million ($0.05 per share) compared to $5.0 million ($0.07 per share) in Q2 FY2024. The previous year's earnings included a $3.7 million gain from an airplane sale. The company maintains a strong backlog of $38.1 million, with significant contributions from Special Mission Electronics operations and Aircraft Modification efforts. Sports wagering generated $1.4 million in quarterly revenue.
Butler National (OTCQX: BUKS) reported strong financial results for Q1 FY2025 ended July 31, 2024. Revenue increased 15% to $19.8 million, with Aerospace Products revenue jumping 30% and Professional Services revenue up 2%. Operating income surged 211% to $3.5 million, while net income tripled to $2.2 million. Earnings per share improved to $0.03 from $0.01 year-over-year.
The company's backlog reached a record high of $38.2 million. Aerospace Products segment turned profitable with $1.4 million operating income, while Professional Services maintained strong performance. Sports wagering contributed $1.0 million in quarterly revenue. Butler National continues to invest in new product development and STC approvals to drive future growth.
Butler National (OTCQX: BUKS) has received FAA Supplemental Type Certificate (STC) approval for installing the Garmin G700TXi Flight Display System in Learjet Model 35/35A(C-21A)/36/36A airplanes with FC-530 or 535 autopilots. This 'Glass Cockpit' upgrade replaces traditional flight instruments, enhancing situational awareness and operations.
Christopher Reedy, President and CEO, highlighted the system's benefits, including improved pilot interface and decreased avionics workload. Carl Wolf of Garmin expressed excitement about the G700TXi's availability for Learjet Model 35/36 series. Butler National plans to make the STC package available to Garmin Dealers worldwide for field installation and is working on applying the G700TXi to Learjet models with FC-200 autopilots.
Butler National (OTCQX: BUKS) has appointed retired USAF Lieutenant General Michael Loh to its Board of Directors. Lt. Gen. Loh brings over 40 years of Air Force experience, including his role as Director of the U.S. Air National Guard, where he managed a $14 billion annual budget and oversaw 108,400 personnel. He is a command pilot with extensive flying experience in various aircraft.
This appointment comes as Aric Peters steps down from the Board but continues as VP and Director of Sales. Butler National, a 50-year-old public company, operates in Aerospace Products and Professional Services segments, focusing on aircraft modifications and gaming management services.
Butler National (OTCQX: BUKS) reported record financial results for fiscal year 2024 ended April 30. Key highlights include:
- Revenue increased 4% to $78.4 million
- Net income surged to $12.5 million, up from $4.5 million in FY2023
- Diluted earnings per share rose to $0.18, compared to $0.06 in FY2023
- Aerospace Products revenue grew 7% to $39.7 million
- Professional Services revenue increased 2% to $38.6 million
The company attributed the growth to targeted marketing of new FAA STC approved modifications, special mission products, and sports wagering. Butler National invested $3.1 million in new product development and is focusing on training new talent to enhance production efficiencies.
Butler National's subsidiary, Avcon Industries, obtained FAA Supplemental Type Certificate approval for dual camera ports and a 'Special Mission Pod' on Textron/Cessna Model 208 and 208B Caravans. The modifications allow approximately 80 cubic feet of additional space for sensors, cameras, and radars. The pod and dual camera ports enhance operational capabilities and versatility for special missions. The 'Special Mission Pod' starts at $225,000, while the dual camera port modification starts at $248,000. Avcon aims to expand its special mission modifications to more aircraft models.
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