Core Viewpoint - Butler National Corporation reported strong financial results for Q2 FY2026, with significant increases in revenue, operating income, and net income compared to the same period in the previous fiscal year [1][3]. Financial Performance - Revenue for Q2 FY2026 reached $23.251 million, a 9% increase from $21.360 million in Q2 FY2025 [2]. - Operating income rose to $7.077 million, reflecting a 46% increase from $4.854 million in the same quarter last year [2][5]. - Net income increased by 67% to $5.994 million, compared to $3.596 million in Q2 FY2025 [2][3]. - Earnings per share improved to $0.09 from $0.05 year-over-year [2][5]. Business Segment Highlights Aerospace Products - Revenue in the Aerospace Products segment increased by 20% to $14.0 million in Q2 FY2026, up from $11.7 million in Q2 FY2025 [10]. - The growth was driven by a $1.2 million increase in Aircraft Modifications and a $1.1 million increase in Special Missions Electronics [10]. - Operating margin improved to 38% in Q2 FY2026 from 21% in Q2 FY2025, with costs remaining flat at $7.5 million [10]. Professional Services - Revenue from Professional Services decreased by 5% to $9.2 million in Q2 FY2026 compared to $9.7 million in Q2 FY2025 [11]. - Mobile sports wagering revenue increased to $1.6 million from $1.4 million year-over-year, while traditional casino gaming revenue saw a slight decline [11]. Investments and Developments - The company invested approximately $1.7 million in new product development and production during the first quarter of fiscal 2026, leading to additional FAA Supplemental Type Certificate approvals [6]. - The company repurchased 687,852 shares of its common stock during Q2 FY2026 as part of its capital allocation strategy [9]. Backlog - As of October 31, 2025, the backlog totaled approximately $46.3 million, an increase from $38.1 million in the previous year [12].