BUTLER NATIONAL CORPORATION ANNOUNCES FIRST QUARTER 2026 FINANCIAL RESULTS

Core Insights - Butler National Corporation reported a strong financial performance for the first quarter of fiscal 2026, with operating income rising by 32% and earnings per share increasing from $0.03 to $0.06 [1][3] Financial Performance - Revenue for the first quarter of fiscal 2026 was $20.125 million, a 1.5% increase from $19.828 million in the same period of fiscal 2025 [2] - Operating income increased to $4.667 million from $3.536 million, marking a 32% rise [2] - Net income rose by 64% to $3.685 million compared to $2.246 million in the prior year [2][3] - Total assets increased to $130.283 million from $112.298 million [2] Business Segment Performance Aerospace Products - Revenue in the Aerospace Products segment increased by 7% to $11.3 million, driven by a $1.2 million increase in Special Missions Electronics and a $1.0 million increase in Aircraft Avionics [9] - Costs decreased by 12% to $6.6 million, resulting in an operating margin of 25% compared to 13% in the same quarter of the previous year [9] Professional Services - Revenue from Professional Services decreased by 5% to $8.8 million, with mobile sports wagering revenue increasing to $1.3 million [10] - Traditional casino gaming revenue saw a decline of $0.6 million compared to the same quarter last year [10] Management Commentary - The CEO highlighted the strong start to fiscal 2026, attributing revenue growth to efficiencies in production and increased deliveries in the Aerospace Products segment [3] - The company invested approximately $0.6 million in the development of new products, leading to additional FAA Supplemental Type Certificate approvals [5][6] Share Repurchase - The company repurchased 2.41 million shares during the first quarter, demonstrating a commitment to maximizing stockholder value [8]