Those two items are now much more favorable to us than we ever imagined. The other one is the buyout of our partner BCS or BHC Development and BHC Development, of course, as you know, had 40% of the income from the casino. So, that is - was eventually forgiven and when that happened, we recognize the revenue.
The other thing that we have two non-reoccurring items in this 10-K that we need to be aware of is, first of all, we recognize the income of the $2 million PPP loan that we got and paid only employees a couple of years ago. I would caution you that you need to read all of those risk factors in there as we go into the next couple of years here in this economy, we don’t know for sure how it’s going to all perform. We had a great year, as you can tell, we’ve got $0.14 a share earnings compared to $0.02 a share in the previous year and we’re really proud of that. Drewitz, and thank you everyone for joining us this morning to discuss Butler National’s year-end 10-K.
So with that statement completed, I am going to turn the call over to Mr. Important factors that could cause actual results to differ materially from the expectations reflected in the forward-looking statements include, but are not limited to factors described under the caption Risk Factors in the company’s annual report on Form 10-K filed with the Securities and Exchange Commission.
THE EXPANSE BOOKS RATINGS UPDATE
The forward-looking statements included in this conference call are only made of the date of this call and Butler National undertakes no obligations to publicly update such forward-looking statements to reflect subsequent events or circumstances. Those risks include, among other things, the loss of market share through competition or otherwise, the introduction of competing technologies by other companies, new governmental safety, health and environmental regulations, which could require Butler to make significant capital expenditures. Stewart begins, I would like to draw your attention to, except for historical information contained herein, the statements in this conference call are forward-looking and made pursuant to the Safe Harbor provisions as outlined in the Private Securities Litigation Reform Act of 1995.įorward-looking statements involve known and unknown risks and uncertainties which may cause Butler National actual results to future - in future periods to differ materially from forecasted results. I would like to now turn the call over to Mr. Your call leaders for today are David Drewitz, Creative Options Communications Clark Stewart, President and CEO and Craig Stewart, President of Aerospace Group. After the presentation, we will conduct a question-and-answer session. At this time, all participants are in listen-only mode. Today is Monday, July 18, and welcome to the Butler National Corporation Fourth Quarter Fiscal Year-End 2022 Financial Results Conference Call. Butler National Corporation ( OTCQB:BUKS) Q4 2022 Earnings Conference Call J11:00 AM ETĭavid Drewitz - Investor Relations, Creative Options CommunicationsĬraig Stewart - President, Aerospace GroupĪric Peters - Director, Business DevelopmentĬhristopher Reedy - Vice President, Secretary
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