BK Technologies Corp (AMEX:BKTI)
$ 31.11 -0.33 (-1.05%) Market Cap: 110.85 Mil Enterprise Value: 108.10 Mil PE Ratio: 22.54 PB Ratio: 4.27 GF Score: 58/100
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Q3 2024 BK Technologies Corp Earnings Call Transcript

Nov 14, 2024 / 02:00 PM GMT
Release Date Price: $31.63 (+11.92%)

Key Points

Positve
  • BK Technologies Corp (BKTI) achieved its fifth consecutive quarter of profitability with GAAP earnings per share of 67¢.
  • The company reported strong order activity for its BKR 5,000 and BKR 9,000 radios, contributing to a robust backlog of $27 million.
  • Gross margins improved to 38.8% in the quarter, driven by strategic cost reduction initiatives and a shift in product mix.
  • The transition to East West manufacturing has resulted in lower product costs and is expected to continue enhancing gross margins.
  • BK Technologies Corp (BKTI) raised its full-year GAAP EPS target to exceed $1.65 per share, up from the previous target of $1.50.
Negative
  • The company anticipates weaker order activity in Q4 due to the fiscal year-end for federal government customers, which represent a significant portion of its business.
  • Despite improvements, the gross margin target of 50% is yet to be achieved, with potential fluctuations expected in the interim.
  • The development of the BKR 9,500 mobile radio is projected to take until 2027, indicating a lengthy timeline for new product introductions.
  • BK Technologies Corp (BKTI) has stopped disclosing the number of radios shipped due to competitive concerns, limiting transparency.
  • The tethering capability with Interop One for the BKR 9,000 is still under development, with unresolved technical challenges delaying its release.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BKTI.A - BK Technologies Corp
Q3 2024 BK Technologies Corp Earnings Call
Nov 14, 2024 / 02:00PM GMT

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Presentation
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We achieved our fifth consecutive quarter of profitability with GAAP earnings per share of 67¢ and year-to-date earnings per share of a dollar 33.

Given our progress in the quarter, we will be providing updates to our financial targets. Later in this presentation, third quarter backlog remains strong at 27 million supported by solid order activity for our BKR 5,000 and BKR 9,000 radios from both new and existing customers looking to upgrade their radio fleets.

We also continued our trend of incremental margin improvement with gross margins of 38.8% in the quarter driven by a combination of strategic cost reduction initiatives and a shift in product mix to include more BKR Series radio sales.

During the
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