secwatch.observer — SEC 8-K summary
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Issuer:     BUTLER NATIONAL CORP (BUKS)
CIK:        0000015847
Form:       8-K
Filed at:   2023-07-31T23:59:59+00:00
Accession:  0001437749-23-021130
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/15847/000143774923021130/0001437749-23-021130-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/15847/000143774923021130/buks20230414_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-021130

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer