BK Technologies Q2 revenue up 57% to $19M; net loss narrows to ($0.39)/share

Revenue increased 101% to $37.7 million, compared with $18.7 million for the first six months of last year. Gross profit margin was 27% compared to 17% for the first six months of last year, reflecting improved costs associated with material and freight during the first half of 2023. Selling, General & Administrative expenses totaled $11.9 million, compared with $10.3 million for the first half of 2022. 2 Operating loss totaled ($1.8 million) compared with operating loss of ($7.1 million) for the first six months of last year. BK Technologies recorded a net loss of ($2.6 million) or ($0.77) per basic and diluted share, compared with a net loss of ($8.3 million) or ($2.45) per basic and diluted share for the first half of last year.

Revenue increased 57% to $19.0 million, compared with $12.1 million for the second quarter of last year driven by increased radio shipments and demand for the BKR 5000 radio. Gross profit margin was 27% compared to 14% for the same quarter of last year, reflecting improved product costs related to raw material, components and freight costs. Selling, General & Administrative expenses totaled $6.0 million, compared with $5.4 million for the second quarter of last year. Operating loss totaled ($784,000) compared with operating loss of ($3.7 million) for the second quarter of last year. BK Technologies recorded a net loss of ($1.3 million) or ($0.39) per basic and diluted share, compared with a net loss of ($4.3 million) or ($1.28) per basic and diluted share, for the second quarter of last year.