Technology

BUTLER NATIONAL CORPORATION ANNOUNCES FIRST QUARTER 2027 FINANCIAL RESULTS

Published

3 hours ago

September 11, 2026

– Revenue increased 53% to $30.8 million – Operating income increased 59% to $7.4 million

– Net income increased 43% to $5.3 million – Earnings per share increased to $0.08 from $0.06

NEW CENTURY, Kan., Sept. 11, 2026 /PRNewswire/ — Butler National Corporation (OTCQX: BUKS), a leader in the growing global market for aircraft modification, maintenance, repair and overhaul (MRO) and a recognized provider of gaming management services, announces its financial results for the first quarter of fiscal 2027. The Company will host a conference call on Friday, September 11, 2026 at 10:00 AM Central Time to review these results.

Historical selected financial data related to all operations:

(In thousands, except shares and per share data)

Three Months Ended July 31

2026

2025

Revenue

$ 30,781

$ 20,125

Operating Income

$ 7,424

$ 4,667

Net Income

$ 5,265

$ 3,685

Weighted Average Shares – Diluted

63,954,343

66,922,924

Earnings Per Share

$ 0.08

$ 0.06

Selected Balance Sheet data

(In thousands)

As of

July 31, 2026

As of

April 30, 2026

Total Assets

$ 139,520

$ 141,842

Current Liabilities

$ 25,762

$ 31,419

Long-term Liabilities

$ 27,458

$ 28,445

Stockholders’ Equity

$ 86,300

$ 81,978

Management Comments

Adam Sefchick, Interim Chief Executive Officer of Butler National Corporation, commented on the results stating, “Butler National delivered record first-quarter earnings in fiscal 2027. These results reflect the dedication of our employees, the continued execution of our strategic initiatives, and our focus on operational efficiency across the organization. Revenue increased 53% to $30.8 million, operating income increased 59% to $7.4 million, and net income increased 43% to $5.3 million compared to the first quarter of fiscal 2026.

Importantly, our significant revenue growth translated into continued strong profitability, with operating margin increasing to 24% compared to 23% in the prior-year quarter. Earnings per share increased to $0.08 from $0.06, reflecting improved operating performance during the quarter. We also continued our disciplined approach to capital allocation, including ongoing share repurchases and investments in our businesses.

Within our Aerospace Products segment, strong performance from both Avcon Aircraft Modifications and Butler National-Tempe contributed significantly to our results, while Aerospace Products backlog reached a record $51.1 million. At Avcon, we achieved several significant milestones, including the successful completion and delivery of two Challenger 605/650 modification projects that included our recently approved STC for the under-fuselage radome/pod and rails for mounting of sensors. In addition, Avcon completed a complex special mission systems integration project, delivering a CASA CN-235 aircraft upgraded with a new sensor package that included a new Avcon-designed custom workstation. The project demonstrates Avcon’s expanding capabilities beyond structural aircraft modification to provide more comprehensive special mission systems integration solutions, while creating opportunities for derivative products and potential follow-on installations. Special Mission Electronics (Tempe) continued to experience strong customer demand and increasing production volumes.

The increased sales of Avcon aircraft modification kits for customer installation also contributed to revenue and margin performance during the quarter. These included Cessna Caravan camera port modification kits, as well as Avcon rails and Special Mission Pod kits for the King Air. Kit sales remain an important part of our strategy to leverage Avcon’s engineering and certification capabilities while expanding our geographic reach.

These results reflect the continued execution of strategic initiatives implemented over the last several years, including investments in new product development, manufacturing capabilities, and operational efficiency. We remain focused on customer satisfaction, operational excellence, and disciplined growth.”

Jeffrey Yowell, Executive Chairman, commented: “Butler National’s strong first-quarter results demonstrate the continued momentum across our businesses and the effectiveness of the strategy we have been executing. On behalf of the Board of Directors, I want to thank our employees for their continued dedication to serving our customers and executing at a high level every day.

As Butler National enters its next chapter of leadership and growth, the Board and management team remain focused on maintaining stability and continuing to execute the Company’s strategic and operational priorities. While the Board conducts its search for a permanent Chief Executive Officer, we remain confident in Adam and our experienced leadership team and their ability to continue advancing the business.

Our objective remains to build upon the momentum already established across Butler National by investing in our capabilities, improving operational execution and pursuing disciplined opportunities for long-term growth and shareholder value creation.”

Stockholders’ equity increased 5% during the first quarter of fiscal 2027 while long-term liabilities declined 3%. During the first quarter of fiscal 2027, we repurchased 246,996 shares of our outstanding common stock for cash under our share repurchase program and as part of our ongoing capital allocation strategy.

Business Segment Highlights

Aerospace Products:

Revenue from the Aerospace Products segment increased 92% to $21.7 million in the first quarter of fiscal 2027 compared to $11.3 million in the first quarter of fiscal 2026. The increase in revenue was primarily driven by a $10.7 million increase in aircraft modification activity and a $0.7 million increase in the sales of Special Mission Electronics, partially offset by a $0.9 million decrease in Aircraft Avionics. Aircraft Modifications experienced higher activity across multiple programs, including increased work on larger and more complex special mission aircraft projects, as well as repeat modifications utilizing previously developed STCs.

Revenue also benefited from increased sales of modification kits for field installation, including Cessna Caravan camera port modification kits and Avcon rails and Special Mission Pod kits for the King Air, among others. Additionally, Avcon completed and delivered two Special Mission Challenger 605/650 modification projects that included our recently approved STC for the under-fuselage radome/pod and rails for mounting of sensors.

Aerospace Products operating income increased 91% compared to the prior-year quarter, while the segment maintained an operating margin of approximately 25% despite the significant increase in revenue and activity.

Butler National-Tempe continued to experience strong demand for its specialized electronic control systems and defense-related products, including deliveries of M134 minigun gun control units. Special Mission Electronics revenue increased $0.7 million during the quarter, supported by increased production activity, additional customer orders and production efficiencies.

Professional Services:

Revenue from the Professional Services segment increased 3% to $9.0 million in the first quarter of fiscal 2027 compared to $8.8 million in the first quarter of fiscal 2026.

Traditional casino gaming revenue increased $0.4 million due to increased patron spending. This increase was partially offset by a decrease in sports wagering revenue through the DraftKings sports wagering platform, which decreased to $1.1 million for the three months ended July 31, 2026, compared to $1.3 million for the three months ended July 31, 2025. Non-gaming revenue at Boot Hill Casino increased slightly to $1.1 million for the three months ended July 31, 2026, compared to $1.0 million for the three months ended July 31, 2025. The Company continues to pursue initiatives designed to increase visitation and enhance the entertainment offerings at Boot Hill Casino & Resort, including the development of the adjacent Glo Hotel property by a local hospitality provider.

Backlog:

As of July 31, 2026, Aerospace Products backlog totaled a record $51.1 million. Backlog represents contracted business that meets the Company’s criteria for inclusion and includes orders that may not be completed within the next fiscal year. The timing of revenue recognition can vary based on customer schedules, aircraft availability, engineering and regulatory requirements, material availability and other factors.

Conference Call:

What: Butler National Corporation First Quarter Fiscal 2027 Financial Results Conference Call

When: Friday, September 11, 2026 – 10:00 AM Central Time

How: Live via phone by dialing:

800 325 1307 – Toll-Free

858 244 1252 – Toll (international)

Passcode: 565658

Participants to the conference call should call in at least 5 minutes prior to the start time. An audio recording of the conference call will be made available on the Butler National Corporation website Investor Page (https://butlernational.com/investing/) following the call until October 11, 2026. Shareholders are encouraged to submit questions in advance through the Company’s investor relations website.

Our Business:

Butler National Corporation operates in the Aerospace and Professional Services business segments. The Aerospace Products segment includes the design, manufacture, sale and service of structural modifications, design, integration and installation of electronic equipment, systems and technologies that enhance aircraft operations, and the design, manufacture and sale of defense related articles. Additionally, we operate FAA Repair Stations. Companies in Aerospace Products concentrate on products and services for Learjet, Challenger, Textron Beechcraft King Air, and Cessna turboprop aircraft. Butler National-Tempe designs and manufactures robust electronic controls and cabling. The Professional Services segment includes the management of a gaming, dining and entertainment facility in Dodge City, Kansas. Boot Hill Casino and Resort features approximately 500 slot machines, 15 table games and a DraftKings branded sportsbook.

Forward-Looking Information:

Statements made in this press release, reports and proxy statements filed with the Securities and Exchange Commission (the “SEC”), communications to stockholders, and oral statements made by representatives of the Company that are not historical in nature, or that state the Company’s or management’s intentions, plans, beliefs, expectations or predictions of the future, may constitute “forward-looking statements” within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements may often be identified by the use of forward-looking terminology, such as “could,” “should,” “will,” “intend,” “continue,” “believe,” “may,” “expect,” “anticipate,” “goal,” “forecast,” “plan,” “guidance” or “estimate” or the negative of these words, variations thereof or similar expressions. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are not guarantees of future performance or results. They involve risks, uncertainties, and assumptions. It is important to note that any such performance and actual results, financial condition or business, could differ materially from those expressed in such forward-looking statements. Factors that could cause or contribute to such differences, many of which are outside of our control, include, but are not limited to: (i) customer concentration risk; (ii) dependence on government spending; (iii) government shutdown; (iv) industry specific business cycles; (v) regulatory hurdles in the launch of new products; (vi) loss of key personnel, including executive officers; (vii) the geographic location of our casino; (viii) fixed-price contracts; (ix) international sales; (x) changing U.S. trade policy and impacts of tariffs; (xi) need to acquire hangar space for substantial growth; (xii) future acquisitions; (xiii) supply chain and labor issues; (xiv) customer demand; (xv) insurance costs and insufficient insurance for aircraft modifications; (xvi) cyber security threats; (xvii) fraud, theft and cheating at our casino; (xviii) dependence on third-party platforms to offer sports wagering; (xix) outside factors influence the profitability of sports wagering and legacy gaming; (xx) change of control restrictions; (xxi) significant and expensive governmental regulation across our industries; (xxii) U.S. Government action with respect to contracts; (xxiii) failure by the Company or its stockholders to maintain applicable gaming licenses; (xxiv) evolving political and legislative initiatives in gaming; (xxv) extensive and increasing taxation of gaming revenues; (xxvi) changes in regulations of financial reporting; (xxvii) the availability of financing; (xxviii) potential impairment losses; (xxix) marketability restrictions of our common stock; (xxx) the possibility of a reverse-stock split; (xxxi) market competition by larger competitors; (xxxii) acts of terrorism and war; (xxxiii) climate change, inclement weather and natural disasters; (xxxiv) rising inflation; (xxxv) failure of risk management; (xxxvi) effectiveness of internal controls; and (xxxvii) other factors discussed in Item 1A of the Company’s Annual Report on Form 10-K and other filings the Company makes with the SEC from time to time.

The forward-looking statements contained herein speak only as of the date of this press release. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial condition or business over time, except as expressly required by federal securities laws.

FOR MORE INFORMATION, CONTACT:

David Drewitz, Public Relations

david@rankoutlaw.com

www.rankoutlaw.com

Ph (972) 814-5723

Butler National Corporation Investor Relations

Ph (913) 780-9595

THE WORLDWIDE WEB:
Please review www.butlernational.com for pictures of our products and details about Butler National Corporation and its subsidiaries.

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SOURCE Butler National Corporation

Technology

The World Is Taking Notice: TIME Recognition Fuels VinFast’s Global Journey

Published

16 minutes ago

September 11, 2026

On a rainy Tuesday morning in Paris, a driver waiting at a red light on Boulevard Haussmann might not immediately place the badge on the SUV beside them. Thousands of miles away, a driver in California might have a similar moment seeing the same badge on an American road. It is not German, nor one of the familiar Asian names that have become common across established automotive markets. It belongs to VinFast , a Vietnamese automotive brand that is steadily making its presence felt across Europe and North America, and whose global journey reflects a much larger story unfolding inside its parent group, Vingroup.

PARIS , Sept. 11, 2026 /PRNewswire/ — That journey reached a new milestone this year. Vingroup has been ranked 340th in TIME’s World’s Best Companies 2026, produced jointly with the research firm Statista, placing it among the world’s top 350 businesses and marking a rise of nearly 500 places from the previous year. It is the only Vietnamese company to appear on the list for two consecutive years.

A Ranking Built on More Than Growth

TIME and Statista do not rank companies on size alone. Their methodology weighs three dimensions: revenue growth, employee satisfaction and sustainability transparency. Vingroup earned an overall score of 81 out of 100, rising from 817th to 340th worldwide.

The revenue figures behind that score are substantial. In the first half of 2026, Vingroup posted consolidated net revenue of VND 222.9 trillion, up 72 percent year on year, with profit after tax reaching VND 20.904 trillion, more than four and a half times the figure recorded over the same period in 2025. That growth was driven largely by the Group’s industrial manufacturing and real estate businesses, earning Vingroup an “Outstanding” rating on the revenue metric.

Employee satisfaction told a similar story of momentum. Vingroup climbed to 398th globally, up 496 places, in a workforce that now spans roughly 400,000 people across 12 countries.

On sustainability, the Group’s contribution came through a different kind of infrastructure – green transition projects, urban development, and long-term investment in the systems that sustain a livable city rather than a single quarter’s balance sheet. Vinhomes, the Group’s real estate arm, has extended this thinking through its ESG++ model, adding Regeneration and Resilience to the conventional three pillars of Environmental, Social and Governance work, applied across urban developments spanning thousands of hectares.

Two new business lines added to that picture in 2025: infrastructure, through VinSpeed’s high-speed rail projects connecting Ho Chi Minh City to Can Gio and Hanoi to Quang Ninh, and green energy, through VinEnergo’s projects across multiple provinces. Together, they represent an attempt to build not just individual businesses, but the connective tissue – rail, power and mobility – that a modern, low-carbon economy runs on.

Making the EV Transition More Accessible

Within that broader ecosystem, VinFast represents one of the clearest expressions of Vingroup’s global aspirations. The company’s expansion across Asia, North America and Europe is bringing the Group’s vision for a greener future to an increasingly international audience, while putting a Vietnamese automotive brand directly into competition in some of the world’s most established markets.

For customers considering a new automotive brand, however, global vision is only the starting point. The more important question is whether a new entrant can earn the trust required to become part of everyday life.

Research from the McKinsey Center for Future Mobility offers a useful, if counterintuitive, perspective. Surveying thousands of European car buyers, McKinsey found that Europeans open to considering an Asian market entrant show an overall 53 percent likelihood of switching to a new brand when they move to an electric vehicle – a figure that rises as high as 63 percent in the United Kingdom. Brand loyalty, in other words, is proving more fluid in the EV era than it was in the age of the internal combustion engine.

That shift creates an opening for new EV brands. But winning customers requires more than a competitive vehicle. It requires making electric mobility accessible while building the sales, service and ownership infrastructure that gives customers confidence throughout the ownership journey.

With an increasingly diverse and accessible product portfolio, VinFast remains committed to its mission of making electric vehicles more accessible to everyone and enabling customers to transition to green mobility with greater ease and confidence.

In Europe, the company is expanding its presence with products designed around local priorities of efficiency, design and accessibility, including the VF 6 and VF 8, while electric buses such as the EB 8 and the fully European-certified EB 12 further extend its contribution to the region’s transition toward greener transportation.

Across North America, the same vision is being supported by the expansion of VinFast’s sales and service network and the development of its Certified Pre-Owned (CPO) program. Together, these initiatives are designed to build a more comprehensive ecosystem around the customer, extending beyond the vehicle itself to the services and support that shape the ownership experience.

Vingroup was the first Vietnamese company to qualify for TIME’s World’s Best Companies list in 2025, while VinFast has earned recognition among TIME100 Most Influential Companies and Asia-Pacific’s Best Companies of 2025. These milestones reflect growing international recognition of Vingroup’s and VinFast’s aspirations, capabilities and expanding global reach.

The latest TIME recognition for Vingroup therefore arrives at a moment when that global reach is becoming increasingly visible. For VinFast, the challenge and opportunity now extend across multiple continents , from European cities where a new badge is gradually becoming familiar, to North American roads where the company is building its presence and customer ecosystem.

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Technology

XLCS Partners advises CID Capital on its investment in Kaiser Garage Doors & Gates

Published

16 minutes ago

September 11, 2026

NASHVILLE, Tenn., Sept. 11, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as advisor to CID Capital on its investment in Kaiser Garage Doors & Gates, LLC (Kaiser).

Headquartered in Tucson, Arizona, Kaiser is a leading installer and servicer of residential and commercial overhead doors and gates serving the Phoenix, Tucson, and White Mountains markets. With over 30 years of proven operations, the company has established a strong regional footprint, a reputation for quality and reliability, and long-standing customer relationships.

Based in Indianapolis, Indiana, CID Capital is a private equity firm with decades of experience partnering with high-quality, lower middle market companies. CID makes control investments in companies with a proven track record of success and works alongside management teams to provide strategic guidance, resources, and capital for the next phase of growth, combining a focus on founder- and family-owned companies with a collaborative approach to building long-term value.

Kaiser is the third platform investment made from CID’s latest fund, CID Capital Opportunity Fund IV, L.P. In conjunction with the closing, industry veteran Eric Farley stepped in as CEO to lead the business under CID’s ownership, partnering with Dean Bennett, COO, and the existing Kaiser team.

XLCS acted as buyside advisor to CID Capital in connection with its investment in Kaiser, which was completed on August 14, 2026. The engagement was supported by Jay Cremer, Vice President, and David Silva, Senior Associate.

About XLCS Partners, Inc.
XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact:
Kendra Span
kspan@xlcspartners.com
615-379-7783

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SOURCE XLCS Partners, Inc.

Technology

PlanetiQ Selected for NOAA’s Space-Based Environmental Monitoring IDIQ

Published

1 hour ago

September 11, 2026

Selection builds on PlanetiQ’s long-standing relationship with NOAA and adds thermospheric neutral density to its environmental data offerings

GOLDEN, Colo., Sept. 11, 2026 /PRNewswire/ — PlanetiQ, a leading provider of commercial satellite-based environmental data, today announced that it has been selected as an industry partner under NOAA’s new Space-Based Environmental Monitoring (SBEM) Indefinite Delivery, Indefinite Quantity (IDIQ) contract. Through the SBEM IDIQ, PlanetiQ will be eligible to compete for task orders to provide NOAA with two types of commercial environmental data: Global Navigation Satellite System-Radio Occultation (GNSS-RO) observations for atmospheric profiling and ionospheric monitoring, and thermospheric neutral density data for satellite orbit prediction.

“This selection builds on our long-standing partnership with NOAA and expands the ways our data can support the agency, from high-resolution atmospheric and ionospheric observations to thermospheric neutral density for satellite orbit prediction,” said Ira Scharf, CEO of PlanetiQ.

The SBEM IDIQ, established by NOAA’s National Environmental Satellite, Data, and Information Service (NESDIS) through its Commercial Data Program. The contract has a five-year base period followed by a five-year option and is effective from September 1, 2026, through August 31, 2036.

Under SBEM, PlanetiQ will provide data from its existing satellite constellation as well as additional satellites planned for launch later this year. The company’s GNSS-RO observations provide high-resolution atmospheric profiles for numerical weather prediction and measurements of the ionosphere, including Total Electron Content (TEC) and scintillation. PlanetiQ will also introduce thermospheric neutral density data as a new commercial data product for NOAA NESDIS, supporting improved satellite orbit prediction and space-weather applications.

“PlanetiQ has built its business around delivering high-quality GNSS-RO data with the precision needed to improve weather forecasting,” said Ira Scharf, CEO of PlanetiQ. “This selection builds on our long-standing partnership with NOAA and expands the ways our data can support the agency, from high-resolution atmospheric and ionospheric observations to thermospheric neutral density for satellite orbit prediction. We look forward to continuing to work with NOAA to advance weather forecasting and space weather applications.”

Per NOAA’s own press release, NOAA is expanding its procurement and use of new commercial environmental satellite data streams that will enhance weather forecasting and space weather monitoring. The SBEM IDIQ contract is a key part in the agency’s ongoing effort to boost U.S. weather forecasting capabilities.

PlanetiQ currently provides GNSS-RO data to NOAA NESDIS under the agency’s previous commercial data contract vehicle. The company’s most recent task order, announced in August, provides GNSS-RO and ionospheric data and bridges the transition to the new SBEM contract.

About PlanetiQ

PlanetiQ provides the highest-quality GNSS radio occultation (RO) data available from a commercial constellation of satellites, offering unmatched temporal and spatial resolution. The data drive accurate, high-impact weather and climate forecast models, helping improve Numerical Weather Prediction and AI forecasts, safeguard lives and property from severe weather. In 2025, PlanetiQ was awarded NOAA’s largest-ever contract for satellite weather data, valued at $24.3 million. PlanetiQ is a space-tech company that serves the most mission-critical government, defense, and industry leaders, including international weather agencies, enabling more resilient operations across sectors. Founded in 2015 and privately owned, PlanetiQ designs, builds, and operates the preeminent commercial constellation of GNSS-RO satellites, setting the standard for precision and reliability in atmospheric monitoring. For more information, contact info@planetiq.com

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SOURCE PlanetiQ