The following is a summary of the BK Technologies Corp (BKTI) Q4 2023 Earnings Call Transcript:

Financial Performance:

• In Q4 2023, BK Technologies reported revenue of $16.3 million, a decrease from $20.3 million in Q4 2022.

• BK Technologies recorded a strong revenue growth of 45% across 2023, reaching a total revenue of $74 million.

• Gross profit margins for both Q4 2023 and FY 2023 saw significant increases (35.1% from 21.7% in Q4, and 30% from 19.3% for FY).

• The company marked a Q4 net income of $290,000 (or $0.08 per share), contrasting a net loss the same quarter in the previous year.

• BK's year-end results showed no long-term debt with $3.5 million in cash and cash equivalents.

Business Progress:

• WK Technologies saw a marked increase in popularity and sales of their BKR5000 and BKR9000 radios, shipping 34,500 units in 2023, marking a 37% increase from 2022.

• Strategic changes involving manufacturing transition to East West manufacturing, and East West's $2 million aggregate investment shows prospects of simplified supply chains and improved margins.

• The company secured significant purchase orders for their BKR9000 radio from large entities including the State of Hawaii Department of Health and the United States Department of Defense.

• 2024 goals include revenue consistency and profitability improvements, targeting an EPS of $1.50. The company also aims to escalate revenue up to $100 million by 2025.

• The company shows confidence in current liquidity and growth driven by radio sales and credit facility borrowing availability.

More details: BK Technologies IR

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