Butler National Corporation (OTCMKTS:BUKS) Stock Rallies After Announcing Quarterly Earnings
Butler National Corporation (OTCMKTS:BUKS) was up 7% after announcing financial results for the quarter ending January 31, 2022.
Market Stats
On Tuesday, BUKS stock gained 7.40% to $0.80 with more than 74K shares, compared to its average volume of 19K shares. The stock moved within a range of $0.7489 – 0.8800 after opening trading at $0.7489.
Earnings Recap
In relation to the release of the result, the aircraft modification, maintenance, repair, and overhaul firm has indicated that it will hold a conference call on Thursday, March 17, 2022, to discuss fiscal Q3 2022 financial results. The company had a solid fiscal year 2022, with the aerospace products and professional services segments witnessing a considerable revenue increase.
Revenue was up 24% YoY to $181.1 million in the quarter compared to $14.6 million a year ago. The revenue growth reflects the 30% revenue increase in Aerospace Products and a 19% increase in Professional Services income. Net income was $2.7 million in Q3 2022 compared to $0.503 million in Q3 2021, while operating margin increased from 13% a year ago to 24% in Q3 2022. Management indicated that their focus is on international markets growth, regulatory mandate solutions, and new supplemental type certificates. So in the coming weeks, investors should watch BUKS.
Key Quote
“The quarter-ended January 31, 2022, continued a strong fiscal year 2022. Both the Professional Services and Aerospace Products segments experienced significant revenue increases. Revenue increased 24% to $18.1 million in the three months ended January 31, 2022, as compared to $14.6 million in the three months ended January 31, 2021. The increase in revenue reflects an increase of 30% in Aerospace Products revenue and an increase of 19% in Professional Services revenue. We continue to focus on growth in international markets, solutions for regulatory mandates and the development of new supplemental type certificates (“STCs”). This includes significant global efforts.
Traders Corner
BUKS stock is trading above the 20-Day and 50-Day Moving averages of $0.74 and $0.75 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.66.
