Fri, Sep 13, 10:16 AM (99 days ago)
For the quarter ending July 31, 2024, Butler National Corporation reported a 15% increase in revenue to $19.8 million, driven by a 30% rise in Aerospace Products revenue, attributed to stronger aircraft modification and special mission electronics segments. Net income surged to $2.2 million from $719, with operating income climbing to $3.5 million, reflecting improved profit margins as total costs increased only 2% despite higher sales. The company's current assets rose slightly, with cash at $17,833 and accounts receivable increasing to $7,326. However, current liabilities decreased, contributing to a stronger balance sheet. Operating cash flow was positive at $3 million, supporting ongoing investments in capital expenditures projected at $9 million for fiscal 2025. Marketing expenses fell 28%, indicating a strategic shift, while general and administrative costs rose 15%. Interest expenses decreased due to debt repayments, enhancing financial flexibility. Overall, the results indicate robust performance and strategic positioning for future growth, although inflationary pressures on material and labor costs present potential risks.