Thu, Mar 27, 11:01 AM (31 days ago)
**BK Technologies Corporation (NYSE American: BKTI)** **Financial Performance (2024 vs. 2023):** - **Revenue:** $76.6 million (2024) vs. $74.1 million (2023), a 3.4% increase. - **Net Income:** $8.4 million (2024) vs. a net loss of $2.2 million (2023). - **Earnings per Share (EPS):** $2.35 (basic) and $2.25 (diluted) for 2024 vs. a loss of $0.65 (basic and diluted) for 2023. - **Gross Profit Margin:** 37.9% (2024) vs. 30.0% (2023). - **Operating Income:** $7.8 million (2024) vs. an operating loss of $0.8 million (2023). **Strategic Overview:** - **Business Units:** Radio and SaaS. - **Products:** Two-way land mobile radios (LMRs) and public safety smartphone applications. - **Market Focus:** Government and public safety markets, including emergency response, homeland security, and military customers. - **Future Outlook:** Expansion of SaaS business unit to include public safety solutions under the new brand BK ONE. **Risk Factors:** - **Supply Chain:** Dependence on a limited number of manufacturers and suppliers. - **Geopolitical Risks:** Impact of global conflicts and economic conditions. - **Market Competition:** Competition from larger suppliers like Motorola Solutions. - **Regulatory Risks:** Compliance with U.S. and international regulations. **Financial Condition:** - **Working Capital:** $23.0 million (2024) vs. $16.8 million (2023). - **Cash and Cash Equivalents:** $7.1 million (2024). - **Debt:** New credit facility with Fifth Third Bank, National Association, providing a one-year revolving line of credit with a maximum commitment of $6 million. **Market Position Changes:** - **Customer Base:** Strong demand and orders during 2023 and 2024. - **Backlog:** $21.8 million (2024) vs. $16.0 million (2023). - **Sales Growth:** Primarily attributed to sales of BKR9000 portable LMR products to federal, state, and municipal public safety agencies. **Operating Expenses:** - **Selling, General, and Administrative (SG&A) Expenses:** $21.2 million (2024) vs. $23.0 million (2023). - **Engineering and Product Development:** $7.8 million (2024) vs. $9.3 million (2023). **Future Outlook:** - **Expansion Plans:** SaaS business unit to include public safety solutions under BK ONE. - **Product Development:** Continued development of BKR Series products. - **Market Position:** Positioned to capture new sales opportunities in federal, state, and local public safety agencies.