---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-021130"
form_type: "8-K"
ticker: "BUKS"
cik: "0000015847"
company_name: "BUTLER NATIONAL CORP"
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T22:02:05.476968+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-021130
- form_type: 8-K
- ticker: BUKS
- cik: 0000015847
- company_name: BUTLER NATIONAL CORP
- filed_at: 2023-07-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/15847/000143774923021130/0001437749-23-021130-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/15847/000143774923021130/buks20230414_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-021130
- JSON: https://secwatch.observer/filing/0001437749-23-021130.json
- Plain text: https://secwatch.observer/filing/0001437749-23-021130.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/15847/000143774923021130/0001437749-23-021130-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.