BUKS - Earnings call 3 2021 | Butler National Corporation

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Operator

Good morning, ladies and gentlemen. Today is Monday, March 15, and welcome to the Butler National Corporation Third Quarter Fiscal 2021 Financial Results Conference Call.

[Operator Instructions]

Your call leaders for today's call are David Drewitz, Creative Options Communications; Clark Stewart, President and CEO; Craig Stewart, President of Aerospace Group.

I would now like to turn the call over to Mr. Drewitz. David Mr. begin, may sir. you Drewitz,

David Drewitz

you, morning everyone. good Thank to and

this to I attention contained Before provision forward-looking as in Securities safe begins, the Reform to like made herein, call draw pursuant and statements outlined information Mr. Stewart harbor historical Act would of your the are for to, the Private in conference Litigation except XXXX.

loss results Those materially known the unknown things, may require include, National's of health actual which from by other new or risks cause differ significant market to results. and uncertainties, Forward-looking in and and the periods share through statements to risks safety, Butler introduction other competition otherwise, expenditures. governmental involve among could technologies of forecasted capital future competing which make environmental Butler regulations, companies,

statements statements results factors circumstances. and undertakes Butler the conference only call The in publicly in Commission. with reflect but National forward-looking the or Form cause to this caption annual subsequent filed call, the on are Factors factors Important update and date this forward-looking to, Securities in forward-looking expectations under Risk that made described report included could such reflected to not limited include, actual the of to no obligation are XX-K statements of events company's from the Exchange differ materially the

Stewart. So with it's Stewart, Mr. all Clark call that yours. Mr. statement completed, to I'm the going to over turn

Clark D. Stewart

appreciate National time you Thank you, Corporation. your We about morning, Mr. taking gentlemen. Good visit and with Drewitz. to ladies us Butler

the and highly during The need business we feel of those a And all big of to deal is cost period in the Basically, we all a jobs next, the fact to Aerospace operation. the -- change given tactics significantly and that X-month then, being of the we with the we and sudden, our and X a products from results changes. changes a quarter. changed that key paying container months, last one had revenue quarter in revenue jobs, couple dollar is the area good fairly the

given revenue were job. running and so, doing for that May on the our fact from than standpoint, XX% we pretty we're for the feel XX year. casinos container Casino, in we're XX% good closed previous and the a we in days And are X% the year, about guess, fellow rest I Kansas, X% behind line We're to of behind the like more the

is a And are we're So other that market pretty much I doing the and and think marketing we job market in, are good there. our that. with pleased X efforts than our different really

for for Our the million; and revenue $X.X was down our X million. months, X down months, $X.X the revenue

difference. reflects So that of kind the

with at need City Now I limited strong, that requirements distancing pleased what we're given just we think pleased more and tell the rest really always. that major Dodge guests million. is people, to with where have all And the the and Avcon, that for $XX in the and we're is of we everything number with Avcon. the social can We we do are. fact the would the and we're -- all that you down jobs COVID, about as backlog shut accommodate We of

of in the you want, is Aerospace our if the Avcon, President the him Aerospace. here, and President I'll Aerospace Stewart Craig Vice let And on of in and comment and Missouri, rest

Craig D. Stewart

it were primarily is knew and last primary Most well. Control segment down bit, customer. fewer those on a from of Arizona past paperwork. orders little Gun of relative to get the we're we just too right. doing going business is cases the year, some the things due The down then -- to has side weren't many Those We're point to we in -- our avionics All business -- as ADS-B on anymore. out where been were those

Avcon, we're we at calls the of probably so capacity through out years. excited here handle next next for couple backlog can about probably day, is. We're phone got taking almost than we've more the going point. to every the strong have We've X Avcon months where months to could seeing is continue and -- what a that's be in over at at we're to -- Avcon really permanent but it's that, year, to X be visibility next this and we

Clark D. Stewart

sure guess, we'll to something. Drewitz, comment questions ready on questions, and Mr. else don't have on. anything have I I I'm for some I'm

David Drewitz

All open please. it questions, let's right. up Operator, to

Operator

we [Operator And question SER a have Sam from Asset Management. Instructions] Rebotsky with

Sam Rebotsky

-- significantly open have once you're -- COVID, this we all as we're things a taking what COVID the we or up employees assume improving, looking I the is expect we're able to are do where in your far Should shot, opened and process? whole as improve to to up

Clark D. Stewart

take let's X Sam, it pieces. in

casinos the concerned, or And As our can in question, when asking machines are XXX that to that? we some will something to far So still noted to we as of bigger start would authorized XXX. Casino is Kansas change we're compared change. expect the the like that

much. to and and had be to strong. April we -- -- restrictions expect not it's changes we on the will as here. Also, say, February we you forward a do probably -- January think will move just really down -- some I what there little, so strong We're we March And we we've be COVID expect is is best Our the ever like but there. had,

Sam Rebotsky

relative would doing would the far you we would as talking the people casino, something turned to Have casino? the we've -- with corner and say, with been to as do somebody? we look about you something So to

Clark D. Stewart

than to doing are Well, to environment it the with so with to and doing anything about trying out operate restrictions in talking haven't other we and that. that been COVID okay seem the anybody with we there, far, be

And so...

Sam Rebotsky

are losing we or even, breaking money? we Are

Clark D. Stewart

positive. Oh, we're We're no, money. making

haven't more we're for -- up the like is in to look the we X% we behind not more the been May period, say Yes, and closed and the at the days X% if XX XXXX. make than you that positive, of -- X% if X-month the numbers,

we're the the the fact despite is business. What the money. other fixed good, the the when financial over casino makes casino and it's cost, pretty statements now are So high. makes is fixed any money, that stable and It you're feeling in making costs money seeing

we you And make money, you as above move so as that, more know.

And so we feel good pretty about that.

moves when lot and in fixed airplane higher STCs airplane bank move cost in Now above, When except a put in above, money margins lower, because the a bit all the that the that you business, of you are for your a cost little lot whole the the of everything. one business. is

here hope fact, in we and stable know X-year for and one is has we ups So a the what of segments. and One, we've is, downs. cycle year-to-year, got other X about

to liable so profitable weak on have And big what's depending quarters. happening, quarters and you're

where with going that's do So Craig, you it. want we're comment? to

Craig D. Stewart

we're side Yes. travel because is potential and is kind that's -- thing, and we from customers of and doing haven't Sam, of and the interaction the missing we bad Aerospace face-to-face shows also going but tell one our of don't been had with thing that some missing you the to customers. that I would good the expenses the we're

front do have to it. primarily and having this that that's our yet, go affected stay shows seem to get nobody of doesn't NBAA think able good and they these open is because where EBACE It back are forward of customers, we can longer. travel starts able and continue and like will of guys start and getting busy shows, and in But hoping to lot we're that, numbers I once everything a cycle us trade

Sam Rebotsky

COVID opens that contracts say would able interact up, once we to the more, So more. people flow are will

or more we on We contracts, expect expect? what bid to do

Craig D. Stewart

would pushing at down and the number demand right take would these we and start phones we're in just And some can sooner requesting it point, can stuff making we're to the the figures more that for of for out be call to we've going the driving what that out for, that, full make get our Well, the now But that sure for that's how than hanger. us hoping what doing sooner and hard . get slow the we we products to are the we jobs that be keep stays people products. sure up where pipeline got need

figuring an good customers I to okay, think want. going extremely we've forward-looking what out, typical are job products and being of done

for we've got as whether what so point. we're is soon get to pushing as that it, possible. this out demand as And the at long out do going But this there in we so is we back them product piece not as or can can of front

Sam Rebotsky

are percent we the production of working What at?

Craig D. Stewart

I Avcon, we're we'll our would over thought probably XXX%. the over next I We're actually, XX% what capacity at months, probably few would be. be to say,

labor a anything look it's there's towards May, of Here else. as we shortage than more

the to looking done and for be get And needs. customers' to so, about to able employees actively we're how looking creative satisfy we things more get

Sam Rebotsky

So how would to we like many employees more hire?

Craig D. Stewart

and at hire between enough Avcon. of well-trained It depends could they this months I in XX of probably on employee what how XX next are we at couple the and little over somewhere sweet mean, world. the employees -- kind

Sam Rebotsky

working both divisions. Okay. Well, good on sounds It luck. like you're

luck. close very significantly. to Good You're more the to hopefully, improving And line. bottom it comes

Craig D. Stewart

Thanks, Sam.

Clark D. Stewart

We it did of we're Well, standpoint. Sam. money, that bottom doing to okay You from got line, make we've bet. some the some so

Sam Rebotsky

Well, that's great.

Clark D. Stewart

appreciate questions. Thanks for We your it.

We other questions? have any

Operator

[Operator Instructions]

Clark D. Stewart

we like sounds don't It have...

Operator

further sir. questions. No, have no We

David Drewitz

statements? have Clark, closing you do some

Clark D. Stewart

Newton. space release space capacity, and No, restricted the in will by We're the things I from in process building are extra think it's -- but people. at going, we're pleased of definitely and some of at with capacity some number qualified that down and how Olathe, we're here and load, people we're looking of both

think at I hard working we we're successful it, So will a and have year.

Craig D. Stewart

Thank you.

Clark D. Stewart

very your appreciate you We Thank much us. you for joining time.

David Drewitz

everyone. you, Thank

Operator

for today's conference you This concludes attending. Thank call.

Butler National (BUKS) 15 Mar 212021 Q3 Earnings call transcript