Butler National Q2 2014 net loss due to revenue decrease

17 December 2013

Butler National Corp. (OTC: BUKS) said its second quarter fiscal 2014 resulted in a net loss of USD345,000 compared to a net income of USD114,000 in the second quarter fiscal 2013.

The net loss was a direct result of the decrease in revenue,” said Clark D. Stewart, president of the company.

Revenue from professional services decreased 14% to USD7.9m for the three months ended October 31, 2013 from USD9.2m in the three months ended October 31, 2012. Operating income from professional services decreased to an operating loss of USD32,000 in the three months ended October 31, 2013 compared with an operating income of USD638,000 in the three months ended October 31, 2012.

Aerospace revenue decreased 25% to USD3.3m in the three months ended October 31, 2013, compared to USD4.4m in the three months ended October 31, 2012. Aerospace products had operating loss of USD166,000 in the three months ended October 31, 2013 compared to operating income of USD61,000 in the three months ended October 31, 2012. We are working to overcome this volatility by increasing marketing efforts in international markets and continuing to diversify product offerings.

Butler National Corporation, together with its subsidiaries, provides aerospace products and professional services in the United States. The company acquires, refurbishes, and sells airplanes, principally Learjets. It was founded in 1960 and is headquartered in Olathe, Kansas. The company´s website is at http://www.butlernational.com.

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