Butler National Promotes Chris Reedy from COO to President and CEO
Reedy’s Leadership and Operational Expertise Poised to Drive Butler National’s Progress
Butler National Relocates Headquarters to New Hangar, Enhancing Presence and Boosting Operational Efficiency
New Century, Kan. – May 12, 2023 – Butler National Corporation (OTCQB: BUKS), a recognized provider of professional management services in the gaming industry and a leader in special mission aircraft modifications, announces the promotion of Christopher J. Reedy from his current position as Chief Operating Officer to President and Chief Executive Officer. Reedy’s extensive experience and leadership skills will continue to guide the company’s strategic vision and growth. Additionally, Butler National has relocated its headquarters to a new facility at the New Century Airport.
BUTLER NATIONAL CORPORATION ANNOUNCES THIRD QUARTER FISCAL YEAR 2023 FINANCIAL RESULTS
Revenue increased 16% to $20.5 million for the third quarter resulting in quarterly earnings of three cents per share
OLATHE, KANSAS, March 16, 2023,Butler National Corporation (OTCQB: BUKS), a leader in the growing global market for aircraft modification, maintenance, repair and overhaul (MRO) and a recognized provider of gaming management services, announces its financial results for the third quarter fiscal 2023 ended January 31, 2023. The Company will defer the conference call for the quarter to a planned fiscal year end results call following the filing of the Company’s Form 10-K.
Management Comments
The quarter-ended January 31, 2023, was a positive quarter. Both the Professional Services and Aerospace Products segments experienced increases in revenue. Revenue increased 16% to $20.5 million in the three months ended January 31, 2023, as compared to $17.6 million in the three months ended January 31, 2022. The increase in revenue reflects an increase of 25% in Aerospace Products revenue and an increase of 8% in Professional Services revenue. Our Aerospace Products segment continues to focus on new opportunities in international markets, obsolescence solutions and the development of new Federal Aviation Administration supplemental type certificates (“STCs”). Sports wagering became legal in the State of Kansas on September 1, 2022, and resulted in a new revenue source of $1.2 million for the Professional Services segment. In addition to the online platform, we initially opened a temporary physical sports book and now feature a permanent DraftKings branded physical sports book at Boot Hill Casino.
Third quarter fiscal 2023 net income was $2.0 million compared to a net income of $2.7 million in the third quarter fiscal 2022. Third quarter fiscal 2023 operating margin was 17% compared to 25% in third quarter fiscal 2022. We continue to review operational processes and methods to control general and administrative expenses.
During the three months ended January 31, 2023, we invested approximately $578 in the development and acquisition of new products. This expenditure for design and development engineering, testing, and certification of new products is the foundation for Aerospace Products and is essential to our long-term revenue and profits.
We are positive about the remainder of fiscal 2023. Our cash position increased $4.7 million during the first nine months of fiscal 2023 and backlog remains strong at $27.1 million. Working with our contracted platform, we have brought online sports wagering to Kansans on behalf of the Kansas Lottery. We opened our permanent retail sports book at Boot Hill Casino & Resort on February 28, 2023. Management and all employees are focused on the development of new products, staffing, production and cost management. We are committed to our customers and to increasing shareholder value.
Butler National Establishes COO Role to Drive Opportunities
Butler National Promotes 20+ Year Employee Christopher Reedy to Chief Operating Officer
OLATHE, KANSAS. (January 26, 2023) Butler National Corporation (OTCQB: BUKS) announces the corporate organizational structure change with the establishment of the Chief Operator Officer (“COO”) position, and the appointment of Christopher J. Reedy by the Board as Executive Vice President, Chief Operating Officer and Secretary of the Company.
Butler National is a recognized provider of professional management services in the gaming industry and a leader in special mission aircraft modifications. Christopher Reedy has extensive experience in both of these segments with his past role as Vice President and Secretary for the Corporation. Butler National has employed Christopher Reedy to perform many roles since November of 2000. Mr. Reedy was appointed to the Secretary position in 2005. In addition to his aviation credentials, Mr. Reedy possesses a Bachelor’s Science in Electrical Engineering from Kansas State University and a Juris Doctorate from the University of Missouri-Kansas City.
FY 2023 Q2 – Financial Results and Conference Call
BUTLER NATIONAL CORPORATION ANNOUNCES SECOND QUARTER FISCAL YEAR 2023 FINANCIAL RESULTS AND CONFERENCE CALL
– Revenue increased 4% to $19.3 million for the second quarter resulting in quarterly earnings of three cents per share –
OLATHE, KANSAS, December 15, 2022, – Butler National Corporation (OTCQB: BUKS), a leader in the growing global market for aircraft modification, maintenance, repair and overhaul (MRO) and a recognized provider of gaming management services, announces its financial results for the second quarter fiscal 2023 ended October 31, 2022. In conjunction with the release, the Company has scheduled a conference call Friday, December16, 2022 at 10:00 AM Central Standard Time.
What: Butler National Corporation Second Quarter Fiscal 2023 Financial Results Conference Call
When: Friday, December 16, 2022 – 10:00 AM Central Standard Time
How: Live via phone by dialing 800-550-7966. Code: 565 658. Conference call participants should call in at least 5 minutes prior to the start time.
Clark Stewart, President & CEO, Butler National Corporation, will be leading the call and discussing results of the second quarter, the status of new and existing orders, gaming activities and an outlook on the balance of fiscal 2023.
FY 2023 Q1 – Financial Results and Conference Call
OLATHE, KANSAS, September 14, 2022, – Butler National Corporation (OTCQB: BUKS), a leader in the growing global market for aircraft modification, maintenance, repair and overhaul (MRO) and a recognized provider of gaming management services, announces its financial results for the first quarter fiscal 2023 ended July 31, 2022. In conjunction with the release, the Company has scheduled a conference call Friday, September 16, 2022 at 10:00 AM Central Daylight Time.
What:
Butler National Corporation First Quarter Fiscal 2023 Financial Results Conference Call
When:
Friday, September 16, 2022 – 10:00 AM Central Daylight Time
How:
Live via phone by dialing 800-550-7966. Code: 565 658. Conference call participants should call in at least 5 minutes prior to the start time.
Clark Stewart, President & CEO, Butler National Corp., will be leading the call and discussing results of the first quarter, the status of new and existing orders, gaming activities and an outlook on the balance of fiscal 2023.
Butler National Casino Subsidiary Announces Its Launch of Mobile Sports Betting In Kansas
OLATHE, KANSAS, September 1, 2022, – Butler National Corporation (OTCQB: BUKS), through its wholly-owned subsidiary that manages Boot Hill Casino & Resort in Dodge City, Kansas, will launch online mobile sports betting through its online platform partner, DraftKings Inc. (NASDAQ: DKNG), today.
Boot Hill Casino & Resort also plans to accept sports wagers onsite and anticipates unveiling its new on-site sportsbook soon.
Butler National previously announced sports wagering platform agreements with DraftKings, Bally’s Corporation and most recently, Golden Nugget Online Gaming.
Butler National Casino Announces Mobile Sports Betting Agreement With Golden Nugget Online Gaming
OLATHE, KANSAS, August 25, 2022, – Butler National Corporation (OTCQB: BUKS), through its wholly-owned subsidiary that manages Boot Hill Casino & Resort in Dodge City, Kansas, has entered into an agreement with Golden Nugget Online Gaming, LLC (GNOG), a subsidiary of DraftKings, Inc. (NASDAQ: DKNG), that could bring GNOG’s online interactive sportsbook to Kansas, subject to receipt of licenses and regulatory approvals.
Butler National is a recognized provider of professional management services in the gaming industry and a leader in special mission aircraft modifications. As the Boot Hill Casino manager for the State of Kansas, the new sports betting law allows Butler National’s subsidiary, subject to regulatory approvals, to contract with three sports wagering platform providers, in addition to offering sports wagering at a retail sportsbook in the Boot Hill Casino facility located in Dodge City.
“We are working diligently with regulators to bring sports betting to Kansans by September 1, 2022. We’re pleased with the regulatory efforts by the State of Kansas to implement sports wagering in Kansas,” added Stewart.
Upon the launch of sports wagering in Kansas, anyone legally permitted within the geographical boundaries of Kansas will be able to place bets directly from their mobile devices or computers by accessing a participating sports book or visiting a lottery gaming facility.
Butler National Casion Subsidiary Sports Betting Management Contract with Kansas Lotter Approved
OLATHE, KANSAS, August 18, 2022, –Butler National Corporation (OTCQB: BUKS), through its wholly-owned subsidiary that manages Boot Hill Casino & Resort in Dodge City, Kansas, has received Sports Wagering Management Contract approval from the Kansas Lottery.
Earlier this summer, Butler National announced sports wagering platform agreements with DraftKings and Bally’s Corporation.
FY 2022 Q4 – Financial Results and Conference Call
OLATHE, KANSAS, July 15, 2022, – Butler National Corporation (OTCQB: BUKS), a leader in the growing global market for aircraft structural modification, maintenance, repair and overhaul (MRO) and a recognized provider of gaming management services, announces its financial results for the fourth quarter and fiscal year ended April 30, 2022. In conjunction with the announcement, the Company has scheduled a conference call for Monday, July 18, 2022 at 10:00 AM Central Daylight Time.
What:
Butler National Corporation Fourth Quarter Fiscal Year End 2022 Financial Results Conference Call
When:
Monday, July 18, 2022 – 10:00 AM Central Daylight Time
How:
Live via phone by dialing 800-550-7966. Code: 565 658. Conference call participants should call in at least 5 minutes prior to the start time.
Clark Stewart, President & CEO, Butler National Corp., will lead the call and discuss results of the fourth quarter and fiscal year end, the status of new and existing orders, gaming activities and an outlook on the balance of fiscal 2023.
Butler National Casino Subsidiary Poised to Offer First In Class Sports Betting to Kansas
OLATHE, KANSAS, May 16, 2022, – Leading the way to bring sports betting one step closer for Kansans, Butler National Corporation (OTCQB: BUKS), through its wholly-owned subsidiary that manages Boot Hill Casino & Resort in Dodge City, Kansas, has entered into agreements with sports betting providers, DraftKings (NASDAQ: DKNG) and Bally’s Corporation (NYSE: BALY). When sports wagering is launched in Kansas, anyone of legal betting age within the geographical boundaries of Kansas can place bets directly from their mobile devices or computers by accessing a participating sports book or by visiting a lottery gaming facility.
Butler National is a recognized provider of professional management services in the gaming industry and leader in special mission aircraft modifications. As the Boot Hill Casino manager for the State, the new sports betting law provides that the Butler National subsidiary may, subject to regulatory approvals, contract with up to three sports wagering platform providers in addition to offering sports wagering at a retail sports book in the Boot Hill Casino facility located in Dodge City.
Avcon ISR Receives FAA Approval for Lear 60 Underwing Sensors, Pods and Target Reeling Machine
OLATHE, KANSAS, April 6, 2022, – Butler National Corporation (OTCQB: BUKS) announces that its subsidiary Avcon Industries, Inc, a leading provider of ISR and special mission solutions for aircraft, has received Federal Aviation Administration (FAA) Supplemental Type Certificate (STC) approval for the installation of wing-mounted hard points with the carriage provisions for external stores on the Learjet Model 60 airplane.
FAA STC ST01984WI approves the installation of the Avcon ISR Solutions Learjet 60 underwing stores carriage provisions and underwing stores. The previously-approved Avcon Hard Points have a payload capacity of up to 1000 pounds underneath each wing. The comprehensive flight test program demonstrated underwing loads that would include the MTR-101 Reeling Machines (Tow Targets) and Special Mission Pods. The large Lear 60 stand-up cabin provides room for up to four Special Mission consoles. The consoles may be used to control a large variety of Special Mission pods for the more complex missions needed in todays and future markets. The new aircraft capability has created significant interest from our existing customers. The Lear 60 is an extremely capable special missions aircraft, complimentary to the already widely used and successful Lear 35/36 airplanes.
FY 2022 Q3 – Financial Results and Conference Call
OLATHE, KANSAS, March 15, 2022, – Butler National Corporation (OTCQB: BUKS), a leader in the growing global market for aircraft modification, maintenance, repair and overhaul (MRO) and a recognized provider of gaming management services, announces its financial results for the third quarter fiscal 2022 ended January 31, 2022. In conjunction with the release, the Company has scheduled a conference call Thursday, March 17, 2022 at 9:00 AM Central Daylight Time.
What:
Butler National Corporation Third Quarter Fiscal 2022 Financial Results Conference Call
When:
Thursday, March 17, 2022 – 9:00 AM Central Daylight Time
How:
Live via phone by dialing 877-358-7305. Code: Butler National Corporation. Participants to the conference call should call in at least 5 minutes prior to the start time.
Clark Stewart, President & CEO, Butler National Corp., will be leading the call and discussing results of the third quarter, the status of new and existing orders, gaming activities and an outlook on the balance of fiscal 2022.
Avcon Industries, Inc. ISR Solutions Receives FAA Approval for King Air Wing-Mounted Hard Points and SAT COM Radome
OLATHE, KANSAS, January 20, 2022, – Butler National Corporation (OTCQB: BUKS) announces that its subsidiary Avcon Industries, Inc., a leading provider of ISR (intelligence, surveillance, and reconnaissance) and special mission solutions for aircraft, received Federal Aviation Administration (FAA) Supplemental Type Certificate (STC) approval for the installation of hard points, also known as provisions for external stores. The hard points are wing-mounted inboard and outboard with an optional cost-effective SATCOM/BLOS Radome on the Beechcraft King Air Model 200, B200, B300, 350. The collective modification package, including the Avcon lower fuselage ISR POD, defines the new Avcon ISR NG King Air platform. Avcon is increasing its focus on developing ISR Solutions across multiple aircraft platforms.
With its expansion of ISR-capable products, Avcon has developed a new subsidiary, Avcon ISR Solutions, to reinforce the Avcon presence in the ISR marketplace. The ISR products are derivative of the commercial products Avcon has developed and installed for more than 50 years. Avcon will continue to develop, manufacture, and install products under its Avcon Industries, Inc. identity for the commercial market in addition to the new Avcon ISR Solutions brand.
OLATHE, KANSAS, January 5, 2022, Butler National Corporation (OTCQB: BUKS) announces that its subsidiary Avcon Industries, Inc., a leading provider of ISR and special mission solutions for aircraft, received Federal Aviation Administration approval of Avcon special mission modifications for the Model 208 and 208B Caravan. FAA Supplemental Type Certificate number SA01975WI approves Avcon fuselage sensor ports with or without the Avcon Mission Power System for the Textron Aviation (Cessna) Model 208/208B.
The Avcon Caravan Sensor STC solution offers a cost-effective installation of dual sensor holes (ports) in the aft fuselage of the airplane and the optional provisions for custom missionization power for the Caravan.
FY 2022 Q2 – Financial Results and Conference Call
OLATHE, KANSAS, December 14, 2021, – Butler National Corporation (OTCQB: BUKS), a leader in the growing global market for aircraft modification, maintenance, repair and overhaul (MRO) and a recognized provider of gaming management services, announces its financial results for the second quarter fiscal 2022 ended October 31, 2021. In conjunction with the release, the Company has scheduled a conference call Thursday, December 16, 2021 at 9:00 AM Central Standard Time.
What:
Butler National Corporation Second Quarter Fiscal 2022 Financial Results Conference Call
When:
Thursday, December 16, 2021 – 9:00 AM Central Standard Time
How:
Live via phone by dialing 877-358-7305. Code: Butler National Corporation. Participants to the conference call should call in at least 5 minutes prior to the start time.
Clark Stewart, President & CEO, Butler National Corp., will be leading the call and discussing results of the second quarter, the status of new and existing orders, gaming activities and an outlook on the balance of fiscal 2022.
