The following is a summary of the BK Technologies Corporation (BKTI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• BK Technologies reported a Q1 2024 revenue of around $18.2 million, a sequential growth of 12% compared to Q4 2023.

• The company improved its gross margin to 34.5% in Q1 2024, contrasting sharply with 26.1% witnessed in Q1 2023.

• Their earnings per share stood at $0.19, marking the third consecutive quarter of profitability.

• The company demonstrated a robust backlog, increasing to $19 million from $16 million at the end of 2023.

• They achieved a net income of $681,000 or $0.19 per basic and diluted share, improving their cash position to approximately $3.3 million with no long-term debt.

Business Progress:

• The BKR5000 single band radio remained popular in the market, led by a considerable order from the USDA Forest Service for 5,620 radios.

• Acceptance of the BKR9000 increased among agencies like the Arkansas Department of Agriculture, Forestry Division, and Boulder County, Colorado.

• The company has embarked upon a multi-year, multimillion-dollar development program for the BKR9500 multiband mobile radio.

• Furthering their transition to an asset-light model, production of the BKR5000 was successfully shifted to their partner, East West Manufacturing.

• BK's InteropONE Push-To-Talk Over Cellular SaaS service secured a patent. This service supports first responders' communications.

• Future product launches, including that of IntelliPTT and 9500, are expected to stimulate further interest in the InteropONE service and boost company revenue and margin.

More details: BK Technologies IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.