-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EHQ9qPR2XNDDZmXTiW+zvrr87D3d1IrDOz9O9/fMR6ngLWusbJjlTIhvV1xgZHVI hOKGtVnHDlFQXu8jEZqsdA== 0000015847-02-000006.txt : 20020415 0000015847-02-000006.hdr.sgml : 20020415 ACCESSION NUMBER: 0000015847-02-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020315 ITEM INFORMATION: Other events FILED AS OF DATE: 20020315 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BUTLER NATIONAL CORP CENTRAL INDEX KEY: 0000015847 STANDARD INDUSTRIAL CLASSIFICATION: AIRCRAFT [3721] IRS NUMBER: 410834293 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-01678 FILM NUMBER: 02575850 BUSINESS ADDRESS: STREET 1: 19920 W 161ST ST CITY: OLATHE STATE: KS ZIP: 66062 BUSINESS PHONE: 8167809595 MAIL ADDRESS: STREET 1: 19920 W 161ST ST CITY: OLATHE STATE: KS ZIP: 66062 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL CONNECTOR CORP DATE OF NAME CHANGE: 19701009 8-K 1 kprq302.txt 8K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) March 15, 2002 BUTLER NATIONAL CORPORATION (Exact name of Registrant as specified in its charter) Kansas 0-1678 41-0834293 (State of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 19920 West 161st Street, Olathe, Kansas 66062 (Address of Principal Executive Office)(Zip Code) Registrant's telephone number, including area code: (913) 780-9595 Former Name, former address and former fiscal year if changed since last report: Item 5. Other Events Butler National Corporation reported that on March 15, 2002 the Company issued a press release regarding the filing of the Form 10-Q pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934 for the 3rd quarter of fiscal year 2002 and the results thereof. See Exhibit 99 Signatures Pursuant to the requirements of the Securities & Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto authorized. Butler National Corporation (Registrant) March 15, 2002 /S/Clark D. Stewart (Date) Clark D. Stewart President and Chief Executive Officer March 15, 2002 /S/Angela Seba (Date) Angela Seba Chief Financial Officer EX-99 4 prq3fy2.txt EXHIBIT 99 Exhibit 99 Classic Aviation Products PRESS RELEASE March 15, 2002 FOR IMMEDIATE RELEASE Butler National Corporation (OTCBB - BUKS) - REPORTS PROFIT FIRST NINE MONTHS FY 2002 OF $1,116,000 ON INCREASED REVENUES OF $3,498,000, UP 90.2%. [OLATHE, KANSAS], March 15, 2002 - On March 14th, Butler National Corporation filed its Quarterly Report for the quarter ending January 31, 2002, on Form 10-Q pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Historical selected financial data related to all operations: Quarter Ended January 31 (In thousands except per share date) 2002 2001 2000 ------ ------ ------ Net Sales $1,453 $2,167 $ 902 Operating Income 58 110 (330) Net Income 1 55 (341) Per Share Net Income .00 .00 (.02) Total Assets 9,591 9,339 10,147 Long-term Obligations 2,157 2,794 2,834 Shareholders' Equity 5,447 3,836 4,865 New Product Research and Development Cost 328 74 183 nr = not reported Nine Months Ended January 31 (In thousands except per share date) 2002 2001 2000 ------ ------ ------ Net Sales $7,374 3,876 $3,554 Operating Income 1,268 (635) (344) Net Income 1,116 (766) (332) Per Share Net Income .03 (.03) (.02) Total Assets 9,591 9,339 10,147 Long-term Obligations 2,157 2,794 2,834 Shareholders' Equity 5,447 3,836 4,865 New Product Research and Development Cost 686 587 311 nr = not reported Highlights of the report include: Sales for the first nine months of fiscal year 2002 increased $3,498,000, primarily from increased business in Avionics, $2,465,000; Aircraft Modifications, $420,000, Gaming Management fees, $329,000 and Services $32,000. Operating income for the first nine months of fiscal year 2002 increased $1,903,000 after deducting research and development charges of $686,000, primarily from improvements in Avionics, Aircraft Modifications, Gaming Management fees and Services. Backlog at April 30, 2001, was $3,324,000, and at January 31, 2002, was $3,185,000. Management Comments: "Fiscal year 2001 was a great year for Butler National. We experienced significant growth in revenues and profitability. Fortunately, we have managed to continue this growth even with adverse economic conditions worldwide. We have just completed our fifth profitable quarter, January 31, 2002. We are pleased to see the growth in operating income from Classic Aviation Products. All of our operating segments including Indian gaming have made significant accomplishments. Our determination to focus Butler National Corporation on 'Classic' Aviation Products, is consistent with our long and significant heritage as a manufacturer of airline avionics equipment and as a modification facility of in service aircraft is continuing to make a positive showing on the financial statements. It is our intent to provide products that will support and promote continued safe commercial and general aviation. Our Aircraft Modifications segment is experiencing reduced orders and sales as a result of the depressed economy and the 9-11 disaster. We are seeing some improvement in business conditions. Our design teams are working to obtain STC approval by the FAA for the Boeing 737-100/200 Classic TSD and the Aircraft Cockpit Shield (ballistic door) for the DC-9/MD80 family and the B737 family. We expect to sell these products during FY 2003. We also expect to make additional sales of fuel system safety products related to FAA SFAR-88 in FY 2003 and 2004. I am pleased with our progress and proud of the determination of all of our people as we continue to build our niche in the Classic Aviation Products market. Many programs and projects are being established to continue our progress into the future. We are looking forward to a good year in fiscal 2003," commented Clark D. Stewart, President of the Company. Our Business: Butler National Corporation operates in the Aerospace and Services business segments. The Aerospace segment focuses on the manufacture and support of systems for "Classic" aircraft including the Butler TSD for the Boeing 747 Honeywell FQIS, switching equipment for Boeing/ Douglas Aircraft, weapon control systems for Boeing Helicopter and performance enhancement structural modifications for Learjet, Cessna, Dassault and Raytheon business aircraft. Services include electronic monitoring of water pumping stations, temporary employee services, Indian gaming services and administrative management services. Forward-Looking Information: The information set forth above may include "forward-looking" information as outlined in the Private Securities Litigation Reform Act of 1995. The Cautionary Statements, filed by the Company as Exhibit 99 to the Company's Annual Report on Form 10-K, are incorporated herein by reference and investors are specifically referred to such Cautionary Statements for a discussion of factors which could affect the Company's operations and forward-looking statements contained herein. FOR MORE INFORMATION, CONTACT: William A. Griffith, Investor Relations Ph (913) 780-9595 Fax (913- 780-5088 Butler National Corporation 19920 W. 161st Street Olathe, KS 66062 -----END PRIVACY-ENHANCED MESSAGE-----