BUTLER NATIONAL CORP 8-K filed 2026-09-11

Butler National Corporation filed this 8-K on 2026-09-11 under Item 2.02, Results of Operations and Financial Condition, to furnish a press release attached as Exhibit 99 announcing its financial results for the quarter ended July 31, 2026, which the company calls the first quarter of fiscal 2027. Because the information is furnished under Item 2.02, the filing states that it is not deemed "filed" for purposes of Section 18 of the Exchange Act. The report is signed by Adam B. Sefchick, who holds the titles Interim Chief Executive Officer and President and Chief Financial Officer. The company trades as BUKS on the OTC and is classified as a non-accelerated filer and smaller reporting company, with an SIC description of Services-Miscellaneous Amusement & Recreation. The press release headline figures are revenue up 53% to $30.8 million, operating income up 59% to $7.4 million, and net income up 43% to $5.3 million, compared with the first quarter of fiscal 2026. Management cites operating margin of 24% against 23% in the prior-year quarter and calls these record first-quarter earnings. The release also includes selected balance sheet data as of July 31, 2026 and April 30, 2026. Management says it continued share repurchases, but the amount repurchased is not in the filing excerpt. Readers should note that the release's summary bullets are internally inconsistent. One line says earnings per share increased to $0.08 from $0.06. Another says diluted earnings per share increased to $0.10 from $0.05. A third says operating income of $4.7 million reflects a 32% increase from the prior year first quarter, which does not match the $7.4 million headline figure. The excerpt does not reconcile these statements, so anyone quoting per-share or operating income numbers should check the full exhibit at the source. On operations, the interim CEO says Aerospace Products backlog reached a record $51.1 million. He attributes results to Avcon Aircraft Modifications and Butler National-Tempe, citing delivery of two Challenger 605/650 modification projects, a CASA CN-235 special mission systems integration, and higher sales of modification kits. The company describes itself as a provider of aircraft modification and MRO services and of gaming management services, but results for the gaming business, segment-level revenue, cash flow and guidance are not in the filing excerpt. The company scheduled a conference call for Friday, September 11, 2026 at 10:00 AM Central Time.