Charles T. Lanktree, a director at BK Technologies Corp (AMEX:BKTI), recently sold shares of the company's common stock, according to a regulatory filing. On December 4, Lanktree disposed of 992 shares at a price of $35.00 each. This was followed by another sale on December 13, where he sold 549 shares at $36.31 per share. The total value of these transactions amounted to $54,654. The sales occurred as BKTI shares have shown remarkable strength, posting a 210% gain over the past year and trading near their 52-week high of $37.97, according to InvestingPro data. Following these sales, Lanktree no longer holds these shares indirectly owned through his family. He continues to hold 18,554 shares directly, which include restricted stock units granted under the company's 2017 Incentive Compensation Plan. The company maintains strong financial health with a "GREAT" overall score on InvestingPro, which offers 8 additional key insights and a comprehensive Pro Research Report for deeper analysis of BKTI's performance and outlook.
In other recent news, BK Technologies Corporation has reported its fifth consecutive profitable quarter, showcasing robust operational and financial performance. The Q3 2024 earnings call revealed a consistent revenue of $20.2 million and an increase in gross margins to 38.8%. The company's backlog remains strong at $27 million, primarily due to the demand for its BKR radio series.
BK Technologies has also revised its full-year targets upward, reflecting optimism in its continued growth and profitability. The company achieved a GAAP EPS of $0.67 for Q3 and a year-to-date EPS of $1.33. Notably, BK Technologies aims to achieve 50% gross margins and $100 million in revenue by 2025 as part of its Vision 2025 strategy.
The company is also developing the BKR 9500 mobile radio, expected to launch by 2027, and continues to enhance the BKR9000's capabilities. Despite some challenges, such as price pressure on gross margins from lower average selling prices and a delay in the BKR9000's tethering capability, the company maintains a strong balance sheet with increased cash and no debt. These are recent developments that reflect BK Technologies' persistent focus on growth and profitability.
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