– Operating income rose 32% on 1.5% increase in revenue – Earnings Per Share increased to $0.06 from $0.03
NEW CENTURY, Kan., Sept. 11, 2025 /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 2026 (the three months ended July 31, 2025).
Butler National Corporation was established in 1960 through the merger of an aviation research firm and the National Connector Corporation. Butler National operates in the Aerospace and Professional Services (Gaming) business segments. (PRNewsfoto/Butler National Corporation)
Historical selected financial data related to all operations:
(In thousands, except shares and per share data)
Three Months Ended July 31
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2025
2024
Revenue
$ 20,125
$ 19,828
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Operating Income
$ 4,667
$ 3,536
Net Income
$ 3,685
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$ 2,246
Total Assets
$ 130,283
$ 112,298
Long-term liabilities
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$ 32,399
$ 33,770
Stockholders’ Equity
$ 65,243
$ 65,114
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Weighted Average Shares – Diluted
66,922,924
68,738,247
Earnings Per Share
$ 0.06
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$ 0.03
Management Comments
President and CEO, Christopher J. Reedy, said, “Our results for the first quarter are a strong start to fiscal year 2026 and represent the commitment of our entire team to enhancing performance. First quarter revenue increased 1.5%, operating income increased 32%, and net income increased 64%, as compared to the same period in fiscal 2025. Gains in the Aerospace Products segment drove the positive results along with continued growth in sports wagering.”
“The results reflect a 7% revenue increase in the Aerospace Products segment in the first quarter, which is strongly attributed to Butler-Tempe (Special Mission Electronics) production efficiencies, stocking required parts, focus on expedited fabrication of key components and increased deliveries. The Aircraft Avionics business had a sizable increase in both operating income and revenue, driven in part by reduced costs from the divestment of the autopilot repair business that occurred in the third quarter of last fiscal year,” continued Mr. Reedy.
“On June 16, 2025, our New Century, Kansas hangar was damaged by a third-party airplane landing on the roof. The Avcon team overcame interruptions by using our adjacent hangar and worked overtime on our airplane modification projects. The hangar has now been restored. Installation refinement continues with the King Air B300 airplane door expansion project. The King Air airplane used as our prototype was damaged by the hangar incident and the airplane is in the process of being repaired,” noted Mr. Reedy.
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“During the first quarter of fiscal 2026, we invested approximately $0.6 million in the development and production of new products. These products resulted in additional Federal Aviation Administration (FAA) Supplemental Type Certificate (STC) approvals, including the European regulatory-driven requirement of non-halon portable fire extinguishers in all Learjets. We obtained STC approval for non-halon replacement portable fire extinguishers in all Learjets. Additionally, developments continue with the new gun control housing, cable designs and tooling for our minigun products. We believe expenditures for design and development engineering, testing, and certification of new products are essential to grow Aerospace Products, help stabilize our long-term revenue and enhance our future profits,” continued Mr. Reedy.
“The 2% increase in the amount of legacy gaming revenue share paid to the State of Kansas beginning December of 2024, and the economic challenges in the Dodge City region, resulted in a Professional Services revenue decrease by 5% in the first quarter of fiscal 2026 to $8.8 million compared to $9.2 million in the first quarter of fiscal 2025,” explained Mr. Reedy.
“As previously announced, we repurchased 2.41 million shares of our outstanding common stock during the first quarter, which demonstrates our commitment to maximizing stockholder value. We anticipate utilizing the five million dollars the Board of Directors authorized in July for future stock repurchases,” concluded Mr. Reedy.
Business Segment Highlights
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Aerospace Products:
Revenue increased 7% to $11.3 million in Q1 FY2026, compared to $10.6 million in Q1 FY2025. The increase in revenue is primarily due to a $1.2 million increase in Special Missions Electronics and a $1.0 million increase in Aircraft Avionics. Costs, inclusive of labor and material costs, decreased 12% in Q1 FY2026 to $6.6 million compared to $7.5 million in Q1 FY2025. Costs were 58% of segment total revenue in Q1 FY2026, as compared to 71% of segment total revenue in Q1 FY2025. Expenses, inclusive of general, administrative & other expenses, increased 7% in Q1 FY2026 to $1.8 million compared to $1.7 million in Q1 FY2025. This represents an operating margin of 25% in Q1 FY2026, compared to 13% in Q1 FY2025 (operating income as a percentage of revenue).
Professional Services:
Revenue from Professional Services decreased 5% in Q1 FY2026 to $8.8 million compared to $9.2 million in Q1 FY2025. The mobile sports wagering revenue increased to $1.3 million in Q1 FY2026 compared to $1.0 million in Q1 FY2025. Traditional casino gaming revenue decreased $0.6 million compared to the same quarter prior year. Costs increased less than 1% in Q1 FY2026 to $3.9 million compared to $3.9 million in Q1 FY2025 and expenses decreased 3% in Q1 FY2026 to $3.1 million compared to $3.2 million in Q1 FY2025.
Our Business:
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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 Federal Aviation Administration (the “FAA”) Repair Stations. Companies in Aerospace Products concentrate on products and services for Learjet, Textron Beechcraft, King Air, and Textron Cessna turboprop aircraft. Butler National-Tempe designs and manufactures robust electronic controls and cabling. The Professional Services segment includes the management of a gaming and the related 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 report, other reports and proxy statements filed with the Securities and Exchange Commission, communications to stockholders, press releases, and oral statements made by representatives of the Company that are not historical in nature, or that state the Company or management intentions, hopes, 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 can often be identified by the use of forward-looking terminology, such as “could,” “should,” “will,” “intended,” “continue,” “believe,” “may,” “expect, ” “anticipate,” “goal,” “forecast,” “plan,” “guidance” or “estimate” or the negative of these words, variations thereof or similar expressions. 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 include, but are not limited to, those discussed in Item 1A of the Company’s Annual Report on Form 10-K, incorporated herein by reference. Risk Factors and elsewhere herein or in other reports filed with the SEC. Other unforeseen factors not identified herein could also have such an effect. 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@creativeoptionscommunications.com
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www.creativeoptionscommunications.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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MADISON, Wis. (Civic Media) – Lt. Gov. Sara Rodriguez, a Democratic candidate for governor, fired her campaign manager Sunday after discovering problems with campaign finance filings, her campaign said.
The campaign said the person was terminated effective immediately following an internal review that found “serious mismanagement and inaccuracies” in reports they prepared. Staff identified the issues late last week and alerted Rodriguez, who then moved to secure campaign accounts and remove the staffer.
The campaign said it plans to contact the Wisconsin Ethics Commission on Monday to correct the filings ahead of a key reporting deadline Wednesday.
Full statement below.
“The Sara Rodriguez for Wisconsin campaign has terminated its campaign manager, effective today, after discovering serious mismanagement and inaccuracies in campaign finance filings she prepared. An initial review found that the manager filed inaccurate and incomplete campaign finance reports. The campaign will be in contact with the Wisconsin Ethics Commission first thing Monday morning to ensure the inaccuracies are corrected. The moment Sara learned of these inaccuracies, she acted swiftly and decisively removed her. The campaign will continue to build support to win in August and beat Tom Tiffany in November.”
Weddings, and the amount they cost, can run the gamut from a small, DIY ceremony in the backyard to a massive bash that shuts down Madison Square Garden. Obviously, the latter may only be within reach for certain pop stars and their football-playing partners, but that still leaves a wide range for how much you and your soon-to-be spouse could potentially spend.
When making the determination, it is important to weigh two things: making your big day a special one and honoring your financial reality. Your wedding may mark the start of your next chapter, but your finances are what will largely shape your future as a married couple.
What is a typical wedding budget?
As a benchmark, the average wedding costs $34,200, said wedding planning website The Knot, based on findings from its 2026 Real Weddings Study. You can expect the bulk of that to go toward your venue and any necessary rentals, such as tableware and tables themselves, as well as catering and drinks. But there a myriad of other small costs that can quickly add up: cake, photographer, flowers and decor, music, outfits, rings, wedding planner.
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How can you determine how much is right for you to spend?
How much you “should budget for a wedding depends on your financial situation,” said NerdWallet. While this may seem obvious, it is easy to get carried away with a grand vision when you sit down to start planning. Consider what savings you and your partner have set aside for the wedding, how much of your upcoming earnings you can set aside and whether you are getting any outside financial help, such as from your parents.
It is also important to put your wedding in context with your other financial goals. “Zoom out and identify short- and long-term financial goals you have individually and as a couple,” said Charles Schwab, whether that is paying off student loans, buying a house or retiring early. Figure out how you would “prioritize them in order of most importance and allocate your resources appropriately,” keeping in mind that “ideally, your wedding spend shouldn’t get in the way of other financial goals.”
How can you make an effective wedding budget?
One of the first steps in making a wedding budget is to “sit down and have open and honest discussions about what your must-haves are, and what you’re comfortable leaving off as you build your budget,” said Minted, a wedding stationery brand. This will give you a guiding vision as you start allocating available funds.
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As you build the budget, do not forget to leave some wiggle room ahead of your absolute maximum, which you should also make sure to set and agree to honor. “Even the best planners who budget early on might forget to add items or will inevitably have things they need to add on,” said Andrew Westlin, a certified financial planner at Betterment, to The Knot. This could include anything from add-on service charges to a last-minute rain tent to extra time on the dance floor.
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Sending a child to college marks an important milestone for families, bringing both new opportunities and natural questions. It’s often the first time students manage money independently while balancing classes, new responsibilities and newfound freedom. This transition also creates a valuable opportunity for parents to guide and teach their children how to build strong financial habits.
While it’s easy to focus on major expenses like tuition and housing, the everyday financial behaviors students develop during this time can shape their future long after graduation. College presents an ideal environment to introduce foundational financial skills in a real-world setting where the stakes are manageable, but the lessons are meaningful. The following areas highlight key lessons parents can help reinforce as their child begins this new chapter.
Understanding cash flow matters more than ever
For many students, college marks the first time money is not simply “there” when they need it. Whether funds come from a checking account, part-time work, or family support, learning how to track income and expenses is essential. Teaching students to understand the difference between fixed costs, like rent or meal plans, and flexible spending, like entertainment or dining out, can help them avoid running short before the semester ends. A simple budget can be a helpful tool that builds awareness and confidence.
Credit is powerful
Credit cards are often heavily marketed to young adults, but few understand how credit really works. College-bound students should recognize that credit is not additional income; interest can accumulate quickly, and payment history plays a critical role. Developing habits like paying balances on time, keeping utilization measured, and regularly reviewing statements can help build strong credit rather than costly missteps. These early behaviors often shape long-term financial health.
Saving is not just for later — it supports flexibility
Students may assume saving can wait until after graduation, but even modest savings during college can serve an important purpose. Emergency expenses, unexpected travel home, or gaps between part-time income can derail finances quickly without a cushion. Understanding the value of saving, even in small amounts, helps students experience firsthand how preparation creates options and reduces stress.
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Financial decisions reflect values
College is often when young adults begin defining what matters most to them. Encouraging students to think about how they spend money, and why, can help align spending with personal priorities. Whether it means minimizing debt, prioritizing experiences, or saving for future goals, learning to make intentional choices fosters independence and accountability.
The goal is not perfection, but to equip students with practical tools and a healthy relationship with money as they enter adulthood. For parents, this means maintaining open conversations, setting realistic expectations, and providing ongoing guidance that can help build confidence in financial decision-making. For families navigating this transition, a financial advisor can provide clarity, outline long-term implications, and help balance education goals with future financial independence.
Bronwyn L. Martin is a Financial Advisor and Chartered Financial Consultant with Martin’s Financial Consulting Group, a financial wealth advisory practice of Ameriprise Financial Services LLC. in Kennett Square, Pa. and Havre de Grace, Md. She specializes in fee-based financial planning and asset management strategies and has been in practice for over 25 years. To contact her: www.ameripriseadvisors.com/bronwyn.x.martin.
