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Butler National Corp. (BUKS+1.14%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing an increase in total revenue to $21.2 million from $19.0 million in the same quarter the previous year. This increase is attributed to a rise in Aerospace Products revenue.
Professional Services revenue was $9.8 million, slightly down from $9.9 million in the previous year. The decrease is attributed to changes in revenue share agreements with the state of Kansas.
Aerospace Products revenue increased to $11.4 million from $9.0 million in the previous year, driven by growth in aircraft modification and special mission electronics businesses.
Cost of Aerospace Products rose to $8.3 million from $5.9 million, representing 39% of total revenue compared to 31% in the previous year. This increase is due to higher production costs.
Marketing and advertising expenses decreased to $885 thousand from $1.2 million, reflecting a change in marketing strategy.
General, administrative, and other expenses decreased slightly to $3.9 million from $4.0 million, representing 18% of total revenue compared to 21% in the previous year.
Net income for the quarter was $3.4 million, up from $2.4 million in the previous year. The increase is attributed to higher operating income from Aerospace Products.
Cash provided by operating activities was $19.6 million, with significant contributions from increased accounts payable and contract liabilities.
Butler National Corp. completed the sale of its Jet Autopilot Product Line for $1.5 million, which is included in the Aerospace Products segment.
The company reported no significant legal proceedings pending against it as of January 31, 2025.
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 March 14, 2025. To report an error, please email earnings@qz.com.