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Butler National Corp. (BUKS) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing reports an increase in revenue to $21.4 million for the quarter, up from $19.6 million in the same period the previous year. This growth is attributed to a 19% increase in Aerospace Products revenue.
Professional Services revenue decreased slightly by 1% to $9.7 million. The sports wagering platform contributed $1.4 million in revenue.
Costs and expenses rose to $16.5 million, representing 77% of total revenue, down from 82% in the previous year. This includes a 10% increase in costs for Aerospace Products.
Operating income for the quarter increased to $4.9 million, compared to $3.6 million in the previous year.
Net income for the quarter was $3.6 million, down from $5.0 million in the prior year. The decrease is partially due to a lower gain on the sale of assets.
Cash provided by operating activities was $5.5 million, while cash used in investing and financing activities was $3.3 million and $3.9 million, respectively.
The company reported a decrease in cash position by $1.6 million for the six months ended October 31, 2024.
Butler National Corp. continues to focus on its Aerospace Products and Professional Services segments, with an emphasis on expanding its sports wagering platform.
The filing includes details on stock repurchase programs and notes payable, with no significant legal proceedings reported.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Butler National Corp. quarterly 10-Q report dated December 6, 2024. To report an error, please email earnings@qz.com.