UNITED STATES |
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CURRENT REPORT |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Item 2.02 |
Results of Operations and Financial Condition |
Item 2.02 |
On July 28, 2011 Butler National Corporation issued a press release announcing it's financial results for the fourth quarter and fiscal year end 2011 for the period ending April 30, 2011. Butler National Corporation will have a conference call on August 2, 2011 to discuss the results. A copy of the press release is attached as Exhibit 99 to this Current Report on Form 8-K. |
Item 9.01 |
Financial Statements and Exhibits |
Exhibit 99 |
Press release announcing Butler National Corporation third quarter fiscal year 2011 financial results and conference call. |
SIGNATURES |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. |
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BUTLER NATIONAL CORPORATION |
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July 29, 2011 |
/S/ Clark D. Stewart |
July 29, 2011 |
/S/ Angela D. Shinabargar |
Exhibit 99 |
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PRESS RELEASE |
July 28, 2011 |
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BUTLER NATIONAL CORPORATION REPORTS FOURTH QUARTER AND FISCAL YEAR END FINANCIAL RESULTS AND CONFERENCE CALL |
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[OLATHE, KANSAS] July 28, 2011 - Butler National Corporation (OTC QB:BUKS) a leading manufacturer and provider of support systems for "Classic" commercial and military aircraft, announces its financial results for the fourth quarter fiscal 2011 and year ended April 30, 2011. In conjunction with the release, the Company has scheduled a conference call Tuesday, August 2, 2011 at 9:00 AM Central Daylight Time.What: Butler National Corporation Fourth Quarter and Fiscal Year End Results Conference Call When: Tuesday, August 2, 2011 - 9:00AM Central Daylight Time How: Live via phone by dialing 800-624-7038. 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 Corporation, will be leading the call and discussing results of the fourth quarter and fiscal year-end financial results, the status of existing and new business, and an outlook for fiscal 2012. |
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Historical selected financial data related to all operations: |
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Year Ended April 30 |
Quarter Ended April 30 |
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(In thousands except per share data) |
(In thousands except per share data) |
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2011 |
2010 |
2009 |
2011 |
2010 |
2009 |
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Net Sales |
$ 46,355 |
$ 32,577 |
$ 18,093 |
$ 12,913 |
$ 13,173 |
$ 4,288 |
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Operating Income |
2,829 |
3,344 |
1,832 |
598 |
1,056 |
678 |
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Net Income |
1,260 |
2,890 |
829 |
32 |
1,510 |
279 |
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Total Assets |
32,158 |
29,566 |
25,798 |
32,158 |
29,566 |
25,798 |
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Long-term Obligations |
4,940 |
4,305 |
6,345 |
4,940 |
4,305 |
6,345 |
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Stockholders' Equity |
18,025 |
16,308 |
13,219 |
18,025 |
16,308 |
13,219 |
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Weighted Average Shares - Diluted |
56,109 |
55,503 |
54,934 |
56,109 |
55,503 |
54,934 |
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New Product Research and Development Cost |
1,652 |
1,720 |
1,892 |
433 |
374 |
(609) |
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Management Comments :"Fiscal 2011 was another successful year for Butler National Corporation. We set a new high in sales during a challenging economic time. We continued to focus on our core aviation products including the acquisition of Kings Avionics in September of 2010. Our Modifications segment led the way generating over four million dollars in operating profit compared with just over two million in fiscal 2010. We believe the company is well-positioned to continue growing shareholder value. Our revenue for fiscal 2011 was $46.4 million, an increase of 42.2% from fiscal 2010 revenue of $32.6 million. Net Income for fiscal 2011 was $1.3 million, a decrease from our record fiscal 2010 net income of $2.9 million. This decrease resulted from increased tax expenses and as a result of lower net income from Boot Hill Casino and Resort. Income tax expenses increased approximately $1.2 million dollars and net income before minority interest from Boot Hill Casino and Resort decreased by approximately $1.0 million in fiscal 2011 compared with fiscal 2010. During Fiscal 2011, we invested approximately $1.7 million toward the development and acquisition of new products. We feel this expenditure for the design and development engineering, testing, and certification of new products may stabilize our long-term revenues and enhance our profits. We are moving confidently into fiscal year 2012, planning to build on our success. We believe we are well positioned for the future as we focus on serving the needs of our customers and enhancing shareholder value," commented Clark D. Stewart, President of the Company. Business Segment Highlights
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Our Business: |
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Forward-Looking Information: |
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FOR MORE INFORMATION, CONTACT: |
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Humanity Worldwide Capital Group |
Ph (914) 479-9060 |
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THE WORLDWIDE WEB: |