BK Technologies Q3 revenue down 6% to $11.9M; record bookings $28M, backlog $42M

BK Technologies Corp

2022-Q3 EPS reported -$0.63 revenue$30,612,000

Revenue $11.9M (-6% YoY); gross margin 19% (down from 33%) on supply chain costs.
Record Q3 bookings of $28M; backlog $42M vs $13M at end-2021, driven by BKR 5000 demand.
Net loss $2.4M ($0.14/sh) vs $2.6M loss last year; operating loss $2.4M vs $370k.
Hurricane Ian delayed ~$1.5M revenue into early Oct; supply chain improving, margins expected back to historical by Dec.
BKR 9000 launch on track for Q4 2022; SaaS InteropONE launched after quarter end.

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 0.95

BK Technologies Corp reported third quarter ended September 30, 2022 results: revenue $11.9 million, net income ($2.4 million) or ($0.14) per basic and diluted share, EPS ($0.14) per basic and diluted share.

Period: third quarter ended September 30, 2022
Revenue: $11.9 million
Net income: ($2.4 million) or ($0.14) per basic and diluted share
EPS: ($0.14) per basic and diluted share
Result: reported results

Exact text from the filing

in our ability to convert backlog into revenue and convert inventory into cash at an attractive gross margin.” Third Quarter 2022 Financial Review Revenue decreased 6% to $11.9 million, compared with $12.6 million for the third quarter of last year. Gross profit margin was 19% compared to 33% for the same quarter of last year. The lower gross margins

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Source: SEC EDGAR

accession 0001654954-22-014620

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