BK Technologies reports Q1 adjusted EPS 88c vs. 62c last year

Reports Q1 revenue $21.3M vs. $19.1M last year. John Suzuki, CEO of BK Technologies (BKTI), commented, “Our first quarter performance represents a successful start to our Vision 2030 mission. Revenue growth, gross margin above 50%, and a record cash balance, all underscore the benefits of our disciplined operating model, favorable product mix and increasing adoption of our innovative products and solutions. Our Vision 2030 roadmap is built around capturing two powerful market transitions, most notably the shift from single-band to multiband wireless connectivity and the evolution from in-vehicle to on-person broadband solutions. This quarter’s results reflect continued demand for our BKR Series radios, particularly the multiband BKR 9000, and the benefits of our improved product mix. During the quarter, we continued to make targeted investments in product development and innovation, leading to the public debut of the BKR 9500 multiband mobile radio at FDIC International last month. The BKR9500 expands our presence into the mobile radio market and represents an important extension of our multiband product strategy. Our conviction behind diligent investments in engineering and product development is anchored by our focus on delivering purpose-built, high-performance multiband BKR Series radios and innovative software solutions under our BK ONE platform. We believe BK Technologies is exceptionally well positioned to capture a larger share of the public safety communications market and remain confident in our strategy, our team and our ability to deliver sustainable long-term growth. We remain focused on disciplined revenue growth, margin expansion, cash generation, and delivering reliable mission-critical communications solutions that support first responders and create long-term value for shareholders.”