BKTI Stock Rises After Q3 Earnings Boost Margins and Profitability

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Shares of BK Technologies Corporation BKTI have gained 19% since the company reported its earnings for the quarter ended Sept. 30, 2024. This contrasts with the S&P 500 index’s -0.7% change over the ...

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This contrasts with the S&P 500 index’s -0.7% change over the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bkti-stock-rises-q3-earnings-164700253.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BKTI Stock Rises After Q3 Earnings Boost Margins and Profitability</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBKTI Stock Rises After Q3 Earnings Boost Margins and Profitability\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-16 00:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bkti-stock-rises-q3-earnings-164700253.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of BK Technologies Corporation BKTI have gained 19% since the company reported its earnings for the quarter ended Sept. 30, 2024. This contrasts with the S&P 500 index’s -0.7% change over the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bkti-stock-rises-q3-earnings-164700253.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BKTI","symbol_name":"BK Technologies, Inc...","start_time":0,"source_url":"https://finance.yahoo.com/news/bkti-stock-rises-q3-earnings-164700253.html","article_id":"2483589216","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Z9cpClmJQHpcjlETszUEbA--~B/aD00NjU7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/0e6e00119767dea571e2db52c929df03"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483589216","pubTimestamp":1731689220,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Shares of BK Technologies Corporation BKTI have gained 19% since the company reported its earnings for the quarter ended Sept. 30, 2024. This contrasts with the S&P 500 index’s -0.7% change over the same time frame. Over the past month, the stock gained 15.5% compared with the S&P 500’s 2.1% change.For the third quarter of 2024, BK Technologies reported revenues of $20.2 million, up 0.5% from $20.1 million achieved in the prior-year quarter. Gross margin improved significantly to 38.8% from 31.9% a year ago due to radio product and accessories sales mix and material cost improvements related to cost-reduction initiatives. The company reported a net income of $2.4 million, or $0.63 per diluted share, a substantial increase from $0.1 million, or $0.03 per share, in the year-ago period. Operating income rose 339.6% to $2.6 million from $0.6 million, reflecting strong operational efficiency improvements.BK Technologies raised its full-year GAAP earnings per share  target to exceed $1.65 pe","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"BKTI":"BK Technologies, Inc..."},"translate_title":"第三季度盈利提高利润率和盈利能力后，BKTI股价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BKTI":1},"content_text":"Shares of BK Technologies Corporation BKTI have gained 19% since the company reported its earnings for the quarter ended Sept. 30, 2024. This contrasts with the S&P 500 index’s -0.7% change over the same time frame. Over the past month, the stock gained 15.5% compared with the S&P 500’s 2.1% change.\nFinancial Performance Highlights\nFor the third quarter of 2024, BK Technologies reported revenues of $20.2 million, up 0.5% from $20.1 million achieved in the prior-year quarter. Gross margin improved significantly to 38.8% from 31.9% a year ago due to radio product and accessories sales mix and material cost improvements related to cost-reduction initiatives. The company reported a net income of $2.4 million, or $0.63 per diluted share, a substantial increase from $0.1 million, or $0.03 per share, in the year-ago period. Operating income rose 339.6% to $2.6 million from $0.6 million, reflecting strong operational efficiency improvements.\nFor the nine months ended Sept. 30, 2024, revenue increased 1.5% to $58.7 million from $57.8 million in the same period in 2023. Gross margin for the nine months was 36.9%, up from 28.6% in the prior year. Year-to-date net income was $4.7 million, or $1.30 per diluted share, against a loss of $2.5 million, or loss of $0.74 per share, in the same period last year.\nSegmentally, the BKR 5000 and BKR 9000 radios contributed strongly to revenues, supported by substantial orders from government and public safety agencies.\nFind the latest EPS estimates and surprises on Zacks Earnings Calendar.\nOther Key Metrics and Management Commentary\nThe company’s order backlog increased to $27 million as of Sept. 30, 2024, from $21.8 million a year earlier.\nBK Technologies completed its manufacturing transition to East West during the quarter. This initiative is expected to further enhance margins in the coming quarters. Additionally, the company has retained a small production team in Florida for final assembly and testing of certain products. CEO John Suzuki emphasized the company’s commitment to advancing its BKR 9000 series and expanding its customer base within law enforcement and public safety markets.\n\nBK Technologies Corporation Price, Consensus and EPS Surprise\n  \nBK Technologies Corporation price-consensus-eps-surprise-chart | BK Technologies Corporation Quote\n\nFactors Driving Results\nThe notable improvement in gross margin was driven by strategic outsourcing, cost optimization, and a favorable product mix, with increased adoption of high-margin products like the BKR 9000. Selling, general and administrative expenses decreased 10.1% to $5.2 million in third-quarter 2024 from $5.8 million in the prior-year quarter due to effective cost controls.\nGuidance Update\nBK Technologies raised its full-year GAAP earnings per share (EPS) target to exceed $1.65 per share, up from $1.50, and its non-GAAP EPS target to exceed $1.92, up from $1.77. Revenues for 2024 is anticipated to remain consistent with 2023 levels as margin improvement drives profitability.\nOther Developments\nDuring the quarter, BK Technologies secured a $3.3 million order from the Florida Forest Service for the BKR 9000 radio, showcasing the product's versatility and appeal across diverse operational needs. The company also implemented a streamlined final assembly process for the BKR 9000, enabling production scalability.\nBK Technologies reported no acquisitions or divestitures during the quarter. However, the company’s financial flexibility was bolstered by improvements in working capital and a strengthened balance sheet, with no outstanding debt as of quarter-end.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBK TECHNOLOGIES, INC. (BKTI): Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483589216"}