Fri, Mar 14, 1:18 PM (44 days ago)
Butler National Corporation (BNC) reported a 12% increase in revenue for the nine months ended January 31, 2025, totaling $62.4 million, compared to $55.7 million in the same period last year. This growth was driven by a 25% increase in Aerospace Products revenue to $33.7 million, while Professional Services revenue remained relatively stable at $28.7 million. Net income rose to $9.2 million, up from $8.1 million, with operating income increasing to $12.4 million from $8.5 million. The company's cash position improved by $12.9 million, primarily due to strong operating cash flow of $19.6 million. However, investing activities used $3.3 million, and financing activities used $3.4 million. BNC's liquidity remains robust, with a cash balance of $30.7 million as of January 31, 2025. The company anticipates capital expenditures of approximately $4.0 million for the remainder of fiscal 2025. BNC's management believes the current cash balance will be sufficient to cover cash requirements through the fiscal year. The company's disclosure controls and procedures were deemed effective as of January 31, 2025. There were no significant changes in internal control over financial reporting during the quarter. BNC did not report any off-balance sheet arrangements or significant legal proceedings. The company's stock repurchase program remains active, with $3.0 million in authorization remaining as of January 31, 2025.