Butler National FY2023 net income plunges to $4.5M despite 5% revenue growth to $75.2M

BUTLER NATIONAL CORP

2024-Q1 EPS reported $0.01 revenue$17,185,000

Revenue $75.2M, +5% YoY; net income $4.5M ($0.06 diluted EPS) vs $10.4M ($0.14) last year.
Operating margin fell to 12% from 23%, hit by $4.5M severance accrual for two former execs and $492K board award.
Aerospace Products revenue grew 8% to $37.1M but operating income collapsed to $65K from $6.2M.
Professional Services revenue +2% to $38.0M; operating income -14% to $8.6M; new sports wagering added $2.7M.
Backlog $26.4M at FY-end; new product R&D spend $3.0M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BUTLER NATIONAL CORP reported fiscal year ended April 30, 2023 results: revenue $75.2 million, net income $4.5 million, EPS 0.06.

Period: fiscal year ended April 30, 2023
Revenue: $75.2 million
Net income: $4.5 million
EPS: 0.06
Result: reported results

Exact text from the filing

EXHIBIT 99 ex_501101.htm Exhibit 99 FOR IMMEDIATE RELEASE July 31, 2023 BUTLER NATIONAL CORPORATION ANNOUNCES FISCAL YEAR END 2023 FINANCIAL RESULTS - Revenue increased 5% to $75.2 million in fiscal 2023 as compared to $71.5 million in fiscal 2022 - NEW CENTURY, KANSAS, July 31, 2023 , - Butler National Corporation (OTCQB: BUKS), a leader in the growing global

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Source: SEC EDGAR

accession 0001437749-23-021130

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