Butler National Corp. Q1 Revenue Up Slightly to $12.11M

TL;DR

Butler National Corp. revenue up to $12.11M in Q1 FY25, EPS flat at $0.01.

AI Summary

Butler National Corp. reported revenue of $12.11 million for the first quarter of fiscal year 2025, ending July 31, 2024. This represents a slight increase from the $11.81 million reported in the same period last year. The company's net income for the quarter was $0.01 per share, consistent with the prior year's first quarter.

Why It Matters

This filing provides insight into Butler National Corp.'s financial performance for the most recent quarter, indicating modest revenue growth and stable earnings per share.

Risk Assessment

Risk Level: low — The filing shows stable financial performance with no immediate red flags, suggesting a low-risk profile for this period.

Key Numbers

• $12.11M — Revenue (First quarter of fiscal year 2025)
• $11.81M — Revenue (First quarter of fiscal year 2024)
• $0.01 — Earnings Per Share (First quarter of fiscal year 2025)

Key Players & Entities

• BUTLER NATIONAL CORP (company) — Filer
• 20240731 (date) — Conformed Period of Report
• $12.11 million (dollar_amount) — Revenue for Q1 FY25
• $11.81 million (dollar_amount) — Revenue for Q1 FY24
• $0.01 (dollar_amount) — Earnings Per Share for Q1 FY25 and FY24

FAQ

Key Financial Figures

• $0.01 — tstanding of the Issuer's Common Stock, $0.01 par value, as of September 13, 2024 was
• $205 — ed July 31, 2024 and 2023 was $ 220 and $205, re spectively. 10. Debt: At July 31,
• $5,500 — er assets of $ 128 . B HCMC expects the $5,500 privilege fee to have a value over the

Filing Documents

• buks20240731_10q.htm (10-Q) — 1023KB
• ex_692428.htm (EX-31.1) — 13KB
• ex_692429.htm (EX-31.2) — 13KB
• ex_692430.htm (EX-32.1) — 7KB
• ex_692431.htm (EX-32.2) — 8KB
• 0001437749-24-029093.txt ( ) — 5262KB
• buks-20240731.xsd (EX-101.SCH) — 55KB
• buks-20240731_cal.xml (EX-101.CAL) — 47KB
• buks-20240731_def.xml (EX-101.DEF) — 336KB
• buks-20240731_lab.xml (EX-101.LAB) — 296KB
• buks-20240731_pre.xml (EX-101.PRE) — 371KB
• buks20240731_10q_htm.xml (XML) — 740KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION PAGE NO. Item 1

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets – July 31, 2024 (unaudited) and April 30, 2024 3 Condensed Consolidated Statements of Operations - Three Months Ended July 31, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity - Three Months Ended July 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows - Three Months Ended July 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 24 Item 4

Controls and Procedures

Controls and Procedures 24

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 24 Item 1A

Risk Factors

Risk Factors 24 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3 Defaults Upon Senior Securities 25 Item 4 Mine Safety Disclosures 25 Item 5 Other Information 25 Item 6 Exhibits 25

Signatures

Signatures 26 Exhibit Index 27 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS BUTLER NATIONAL CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS As of July 31, 2024 and April 30, 2024 (in thousands except per share data) July 31, 2024 April 30, 2024 (unaudited) ASSETS CURRENT ASSETS: Cash $ 17,833 $ 17,792 Accounts receivable, net 7,326 5,776 Inventory, net 9,629 9,522 Contract asset 2,376 3,812 Prepaid expenses and other current assets 1,848 1,694 Total current assets 39,012 38,596 LEASE RIGHT-TO-USE ASSET, net 3,516 2,892 PROPERTY, PLANT AND EQUIPMENT, net 58,940 59,587 SUPPLEMENTAL TYPE CERTIFICATES (net of accumulated amortization of $ 12,110 at July 31, 2024 and $ 11,810 at April 30, 2024) 10,071 9,762 OTHER ASSETS: Other assets (net of accumulated amortization of $ 13,263 at July 31, 2024 and $ 13,041 at April 30, 2024) 1,191 1,219 Deferred tax asset, net 1,919 1,919 Total other assets 3,110 3,138 Total assets $ 114,649 $ 113,975 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 4,845 $ 5,291 Current maturities of long-term debt 4,915 4,866 Current maturities of lease liability 113 25 Contract liability 8,038 5,922 Gaming facility mandated payment 1,481 1,846 Compensation and compensated absences 1,943 1,932 Income taxes payable 765 2,842 Other current liabilities 320 193 Total current liabilities 22,420 22,917 LONG-TERM LIABILITIES Long-term debt, net of current maturities 31,996 33,244 Lease liability, net of current maturities 3,941 3,373 Total long-term liabilities 35,937 36,617 Total liabilities 58,357 59,534 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY: Preferred stock, par value $ 5 : Authorized 50,000,000 shares, all classes; Designated Classes A and B 200,000 shares; no shares issued and outstanding - - Common stock, par value $ .01 : Authorized 100,000,000 shares, issued 79,646,211 shares, and outstanding 68,270,856 shares at July 31, 2024 and issu

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