Nevada
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001-32644
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83-4064262
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(State or other jurisdiction of
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(Commission
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(IRS Employer
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incorporation or organization)
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File No.)
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Identification Number)
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7100 Technology Drive, West Melbourne, FL
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32904
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(Address of principal executive offices)
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(Zip Code)
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N/A
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Title of Each Class
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Trading Symbol(s)
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Name of Each Exchange on Which Registered
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Common Stock, par value $.60 per share
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BKTI
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NYSE American
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BK TECHNOLOGIES CORPORATION
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Date: November 12, 2020
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By:
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/s/ William P. Kelly
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William
P. Kelly
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Executive
Vice President and
Chief
Financial Officer
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Three Months
Ended
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Nine Months
Ended
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||
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September
30,
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September 30,
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September
30,
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September 30,
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2020
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2019
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2020
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2019
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|
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Sales,
net
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$12,760
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$11,805
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$33,586
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$32,743
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Expenses
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Cost
of products
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7,560
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6,699
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20,163
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19,499
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Selling,
general and administrative expenses
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4,158
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4,811
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13,265
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15,247
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Total
expenses
|
11,718
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11,510
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33,428
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34,746
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Operating income
(loss)
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1,042
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295
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158
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(2,003)
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Other (expense)
income:
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Interest
(expense) income
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(6)
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33
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(4)
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134
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(Loss)
gain on investment in securities
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(291)
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(258)
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(797)
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186
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Other
expense
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(65)
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(85)
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(144)
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(98)
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Total other
(expense) income
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(362)
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(310)
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(945)
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222
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Income (loss)
before income taxes
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680
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(15)
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(787)
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(1,781)
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Income tax
(expense) benefit
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(2)
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253
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(30)
|
454
|
|
|
|
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Net income
(loss)
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$678
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$238
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$(817)
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$(1,327)
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Net earnings (loss)
per share - basic
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$0.05
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$0.02
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$(0.07)
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$(0.10)
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Net earnings (loss)
per share - diluted
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$0.05
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$0.02
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$(0.07)
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$(0.10)
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Weighted average
common shares outstanding - basic
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12,505,096
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12,696,273
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12,518,587
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12,725,793
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Weighted average
common shares outstanding - diluted
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12,517,493
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12,709,057
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12,518,587
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12,725,793
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September
30,
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December
31,
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2020
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2019
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(Unaudited)
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ASSETS
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Current
assets:
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Cash and cash
equivalents
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$6,381
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$4,676
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Trade accounts
receivable, net
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5,778
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3,964
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Inventories,
net
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8,426
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13,513
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Prepaid expenses
and other current assets
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1,455
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1,733
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Total current
assets
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22,040
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23,886
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Property, plant and
equipment, net
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3,701
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3,964
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Right-of-use (ROU)
asset
|
3,013
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2,885
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Investment in
securities
|
1,838
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2,635
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Deferred tax
assets, net
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4,272
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4,373
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Other
assets
|
122
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197
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Total
assets
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$34,986
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$37,940
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LIABILITIES
AND STOCKHOLDERS' EQUITY
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Current
liabilities:
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Accounts
payable
|
$3,129
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$5,310
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Accrued
compensation and related taxes
|
1,428
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1,271
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Accrued warranty
expense
|
911
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1,248
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Accrued other
expenses and other current liabilities
|
660
|
479
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Dividends
payable
|
250
|
252
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Short-term lease
liability
|
496
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369
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Note payable -
current portion
|
81
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78
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Deferred
revenue
|
667
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369
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Total current
liabilities
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7,622
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9,376
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|
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Note payable, net
of current portion
|
268
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328
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Long-term lease
liability
|
2,829
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2,606
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Deferred
revenue
|
2,622
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2,354
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Total
liabilities
|
13,341
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14,664
|
|
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Commitments and
contingencies
|
|
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Stockholders'
equity:
|
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Preferred stock;
$1.00 par value; 1,000,000 authorized
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shares;
none issued or outstanding
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-
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-
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Common stock; $0.60
par value; 20,000,000 authorized shares;
|
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13,962,366
and 13,929,381 issued and 12,596,923 and 12,596,923
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outstanding
shares at September 30, 2020 and December 31, 2019,
respectively
|
8,377
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8,357
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Additional paid-in
capital
|
26,281
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26,095
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Accumulated
deficit
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(7,611)
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(6,043)
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Treasury Stock, at
cost, 1,450,400 and 1,332,458 shares at
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September
30, 2020 and December 31, 2019, respectively
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(5,402)
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(5,133)
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Total stockholders'
equity
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21,645
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23,276
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Total liabilities
and stockholders' equity
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$34,986
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$37,940
|
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