In a remarkable display of market strength, BKTI, the stock symbol for RELM Wireless, has surged to a 52-week high, with shares trading at an impressive $38.06. According to InvestingPro data, the company maintains a healthy current ratio of 2.87, indicating strong liquidity. This peak represents a significant milestone for the company, reflecting a robust period of growth and investor confidence. Over the past year, RELM Wireless has witnessed an extraordinary 192.97% change in its stock value, with an EBITDA of $7.69M and a solid gross profit margin of 36.55%. This substantial year-over-year increase has propelled the stock to new heights, marking a period of exceptional returns for those invested in BKTI. InvestingPro subscribers can access 8 additional key insights about BKTI's financial health and growth prospects through the comprehensive Pro Research Report.
In other recent news, BK Technologies Corporation has posted its fifth consecutive profitable quarter, demonstrating a strong operational and financial performance in its Q3 2024 earnings call. The company reported a steady revenue of $20.2 million and an impressive increase in gross margins to 38.8%, with a target of reaching 50% by 2025. The corporation's backlog remains robust at $27 million, driven by the demand for its BKR (NASDAQ:BKR) radio series.
In light of these recent developments, BK Technologies has revised its full-year targets upward, reflecting its confidence in sustained growth and profitability. The company achieved a GAAP EPS of $0.67 for Q3 and a year-to-date EPS of $1.33. Full-year 2024 GAAP EPS expectations have been raised to over $1.65, and non-GAAP EPS to $1.92.
BK Technologies is also developing the BKR 9500 mobile radio, expected to launch by 2027, and continues to enhance the BKR9000's capabilities. Despite some challenges, such as price pressure on gross margins in Q2 and Q3 and the delay of the BKR9000's tethering capability due to Bluetooth reliability concerns, the company's outlook remains positive. The corporation holds $4.2 million in cash with no debt and has established a new line of credit to fuel growth.
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