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.
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Butler National Corporation (OTC-PINK:BUKS) reported a 16% increase in revenue to $20.5 million for Q3 2023, with earnings of three cents per share. The Aerospace Products segment saw a 25% revenue growth, while Professional Services rose by 8%. Despite these increases, net income dropped to $2 million from $2.7 million year-over-year, reflecting a decrease in operating margin from 25% to 17%. Management remains optimistic for the year, citing a strong backlog of $27.1 million and a solid cash position.
Butler National Corporation (OTCQB: BUKS) has appointed Christopher Reedy as Chief Operating Officer (COO), enhancing its organizational structure. Reedy, who has been with the company for over 20 years, brings extensive experience in the gaming and aircraft modification sectors. His responsibilities will include overseeing the leadership of operating subsidiaries and managing shareholder relations. The Board expressed confidence in Reedy's suitability for the role due to his significant contributions, including supporting operations and regulatory efforts. Butler National continues to be a key player in the gaming industry and aircraft support services.