Butler National Corp. files form 10-Q for quarter ending July 31, 1995.OLATHE, Kan.--(BUSINESS WIRE)--Sept. 5, 1995--Butler National Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BUKS) files Form 10-Q Form 10-Q See 10-Q. for the quarter ending July 31, 1995 and comments on the development of new products and the progress of Indian gaming projects. Butler National Corp. has filed its quarterly report on Form 10-Q pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. -0-
Selected Financial Data ($000's):
unaudited three months audited year
7/31/95 7/31/94 4/30/95
Net sales $3,854 $3,339 $13,156 Net income $ 64 $ 26 $ (895) Per share net income $ .007 $ .003 $ (.11) Total assets $5,043 $4,691 $ 4,194 Long-term obligations $ 108 $ 143 $ 119 Highlights of the 10-Q report include: -- Total sales for the first fiscal quarter increased $515,422 (15.4%) compared to the prior year. Net income for the quarter improved from $26,121, $0.003 per share, in the same quarter last year to $64,390, $0.007 per share, an increase of $38,269 (145.7%) -- All of the major operating segments experienced increased sales for the quarter ended July 31, 1995, compared to the same quarter in the prior year. Food Distribution (71.2%), Aircraft Modifications (5.8%) and Monitoring Services The general surveillance of known air traffic movements by reference to a radar scope presentation or other means, for the purpose of passing advisory information concerning conflicting traffic or providing navigational assistance. (5.7%). -- Contribution from these segments improved for the comparative period. Food Distribution increased (25.6%) to $152,271, Aircraft Modifications A change in the physical characteristics of aircraft, accomplished either by a change in production specifications or by alteration of items already produced. increased (13.7%) to $162,550 and Monitoring Services increased (50.1%) to $60,439. Expenditures by the Management Services segment were $179,530 for the quarter, all related to the Indian gaming management agreements. Management Comments: "We are beginning our 36th year with a profitable quarter. The Aircraft Modification business continues to improve and will make an even greater contribution to revenues and earnings for fiscal year 1996. RFI (Radio Frequency Interference) High-frequency electromagnetic waves that emanate from electronic devices such as chips. RFI - Radio Frequency Interference , our newest business, is exceeding our estimates. I am pleased that all of the major segments are progressing as planned and I expect them to continue to contribute to earnings. "Last March we reported that we are actively seeking innovations in the aviation industry. The first of these innovations is the Avcon Fins for the Learjet aircraft, started in September 1994. The first phase of flight testing has been completed on a Flight International Learjet model 36. The primary objective of additional slow speed flight stability was attained. However, along with the stability came additional lift and the need for further refinements in the aircraft trim systems. "Flight International has the aircraft scheduled on a contract for September and October. This schedule resulted in a delay in the flight testing until November 1995. We expect to finish the refinements in November and obtain the STC STC Supplemental Type Certificate (FAA) STC Society for Technical Communication STC Subject to Change STC Surf the Channel (website) STC Sound Transmission Class STC Singapore Turf Club for this new product in December 1995. However, we will show a full scale model of the fins at the NBAA NBAA National Business Aviation Association, Inc. NBAA National Board of Accountants and Auditors NBAA Nichiren Buddhist Association of America convention in September and expect to book the initial orders prior to the issue of the STC. "Two new cargo and baggage door products are under development at Avcon. One is to be marketed exclusively through Learjet and the other will be marketed by Avcon. We expect that these new products could significantly add to the revenues and profits for fiscal year 1996. "The Miami Tribe The Miami are a Native American tribe originally found in Indiana and Ohio, and now living also in Oklahoma. Name The name 'Miami' derives from the tribe's name for themselves in their own Algonquian language, Myaamia (plural Myaamiaki). project, Princess Maria Princess Maria may refer to:
"We continue to minitor the progress of the Modoc and Miami/Modoc Joint Venture management agreements for the Oklahoma properties filed earlier this year. We expect approval of these agreements in 1995 or early 1996," commented Clark D. Stewart, president of the company. Our Business: Butler National Corp. operates in the aerospace and services business segments. The services segment includes food distribution, electronic monitoring of water pumping The pumping of water is a basic and practical technique, far more practical than scooping it up with one's hands or lifting it in a hand-held bucket. This is true whether the water is drawn from a fresh source, moved to a needed location, purified, or used for irrigation, washing, or stations, temporary employee services and administrative management services. Aerospace includes the manufacture of airborne electronic switching equipment for McDonnell Douglas McDonnell Douglas was a major American aerospace manufacturer and defense contractor, producing a number of famous commercial and military aircraft. It merged with Boeing in 1997 to form The Boeing Company. and structural modification of business aircraft. For more information, or for a complete copy of Butler National's latest 10-Q, contact is listed below. CONTACT: Butler National Corp., Olathe Edward J. Matukewicz, 913/780-9595 fax: 913/780-5088 |
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