WEST MELBOURNE, FL / ACCESSWIRE / December 22, 2022 / BK Technologies Corporation (NYSE American:BKTI) (the “Company” or “BK Technologies”) today announced that its BKR 9000, which is the Company’s next generation, multiband portable communications technology for the public safety market, has been delivered to a third-party lab for FCC (Federal Communications Commission) test and certification.
Kyle Cerminara, Chairman of BK Technologies, commented, “This is a historic milestone for the engineering efforts at BK Technologies and I am so pleased that we have reached this important point in the development and launch of our BKR 9000. The BKR 9000 has proven to be reliable and effective in several field trials, and as a result we’re seeing robust pre-order activity as we navigate the last stages of launch. With its heightened multiband capabilities, this next generation product is anticipated to unlock a significantly larger segment of the addressable market for us, as it is well suited to attract new customers and bigger contract opportunities. I want to thank our President, Tim Vitou, our Chief Technology Officer, Dr. Branko Avanic and our amazing engineering team for all of their hard work to get the company to this important milestone.”
“As we anticipate the FCC certification of the BKR 9000, we continue to see strong demand for our BKR 5000 portable communications technology, which has established a strong foundation for the growth of our business. Throughout 2022, we’ve steadily added customers and contracts for the BKR 5000 with significant order activity from a wide range of public safety agencies at the state and local level. We believe the consistently solid performance of the BKR 5000 and the enhanced multiband capabilities provided by the BKR 9000 position us well to provide comprehensive portable communications platforms that will enable us to achieve our company revenue goal of $100 million in 2025,” Mr. Cerminara concluded.
The BKR 9000 is being developed at the BK Technology Innovation Center in South Florida, led by BK’s Chief Technology Officer, Dr. Branko Avanic, Ph.D. Opened in March 2021, the primary initial focus of the Center has been the development of the BKR 9000 which, coupled with the successfully launched BKR 5000, will enable BK to expand into new vertical markets.
Dr. Avanic commented, “The team of highly experienced engineers here at BK Technology has worked hard to develop a truly innovative product from the ground up that fulfills the needs of the market. While there is still final development and testing to be completed, submitting the BKR 9000 for FCC certification is an important step and we are excited to reach this stage in the development process.”
About BK Technologies
BK Technologies Corporation manufactures high-specification, American-made communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies. BK Technologies SaaS business focuses on new, innovative public safety smartphone services that will make the first responders safer or more productive. BK Technologies is honored to serve these heroes when every moment counts. The Company’s common stock trades on the NYSE American market under the symbol “BKTI”. Maintaining its headquarters and primary manufacturing facility in West Melbourne, Florida, BK Technologies can be contacted through its web site at www.bktechnologies.com or directly at 1-800-821-2900.
Forward-Looking Statements
This press release contains certain forward-looking statements that are made pursuant to the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company’s operations, economic performance, and financial condition, including, but not limited to, statements regarding the expected timing for the launch of the BKR 9000 and the Company’s long-term strategic plan, and are based largely on the Company’s beliefs and expectations. These statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors and risks, some of which have been, and may further be, exacerbated by the COVID-19 pandemic and geopolitical events, include, among others, the following: changes or advances in technology; the success of our land mobile radio product line; disruption in the global supply chain creating delays, unavailability and adverse conditions; successful introduction of new products and technologies, including our ability to successfully develop and sell our anticipated new multiband product and other related products in the planned new BKR Series product line and our announced SaaS solutions; competition in the land mobile radio industry; general economic and business conditions, including higher inflation and its impacts, federal, state and local government budget deficits and spending limitations, any impact from a prolonged shutdown of the U.S. Government, the ongoing effects of the COVID-19 pandemic and the ongoing war in Ukraine, including the imposition of additional sanctions and export controls, as well as the broader impacts to financial markets and the global macroeconomic and geopolitical environments; the availability, terms and deployment of capital; reliance on contract manufacturers and suppliers; risks associated with fixed-price contracts; heavy reliance on sales to agencies of the U.S. Government and our ability to comply with the requirements of contracts, laws and regulations related to such sales; allocations by government agencies among multiple approved suppliers under existing agreements; our ability to comply with U.S. tax laws and utilize deferred tax assets; our ability to attract and retain executive officers, skilled workers and key personnel; our ability to manage our growth; our ability to identify potential candidates for, and to consummate, acquisition, disposition or investment transactions, and risks incumbent to being a noncontrolling interest stockholder in a corporation; impact of the COVID-19 pandemic or the ongoing war in Ukraine on the companies in which the Company holds investments; impact of our capital allocation strategy; risks related to maintaining our brand and reputation; impact of government regulation; impact of rising health care costs; our business with manufacturers located in other countries, including changes in the U.S. Government and foreign governments’ trade and tariff policies, as well as any further impact resulting from the COVID-19 pandemic or the ongoing war in Ukraine; our inventory and debt levels; protection of our intellectual property rights; fluctuation in our operating results and stock price; acts of war or terrorism, natural disasters and other catastrophic events, such as severe weather events, the COVID-19 pandemic and geopolitical events; any infringement claims; data security breaches, cyber-attacks and other factors impacting our technology systems; availability of adequate insurance coverage; maintenance of our NYSE American listing; risks related to being a holding company; and the effect on our stock price and ability to raise equity capital of future sales of shares of our common stock. Certain of these factors and risks, as well as other risks and uncertainties, are stated in more detail in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and in the Company’s subsequent filings with the SEC. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statement.
Company Contact:
IMS Investor Relations
John Nesbett/Jennifer Belodeau
bktechnologies@imsinvestorrelations.com
(203) 972-9200