Tue, Jul 23, 7:42 PM (46 days ago)
**Abstract:** For the fiscal year ending April 30, 2024, Butler National Corporation reported a 4% increase in revenue to $78.4 million, driven by a 7% rise in Aerospace Products revenue and a 2% increase in Professional Services revenue. Net income surged to $12.5 million, up from $4.5 million in the prior year, resulting in earnings per share of $0.18 compared to $0.06. Operating expenses decreased by 2%, primarily due to a $4.5 million severance accrual in the previous year. The company maintained a strong cash position with $17.8 million, despite a $4.2 million decrease from the prior year, attributed to significant stock repurchases and capital expenditures. The backlog for Aerospace Products grew to $30.3 million from $26.4 million. Key risk factors include customer concentration, reliance on government spending, and regulatory hurdles. The company is compliant with all debt covenants and anticipates capital expenditures of approximately $13 million in fiscal 2025.