8-K

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 193

Date of Report (Date of earliest event reported) July 29, 2002

BUTLER NATIONAL CORPORATION
(Exact name of Registrant as specified in its charter)

Kansas
(State of Incorporation)

0-1678
(Commission File Number)

41-0834293
(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 July 28, 2002 the Company issued a press release regarding the filing of Butler National Corporation's annual report on Form 10-K with the Securities and Exchange Commission for the period ending April 30, 2002.

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)

July 29, 2002
/S/Clark D. Stewart
Clark D. Stewart
President and Chief Executive Officer

July 29, 2002
/S/Angela Seba
Angela Seba
Chief Financial Officer

EX-99

Exhibit 99
Classic Aviation Products
PRESS RELEASE July 29,2002 FOR IMMEDIATE RELEASE
Butler National Corporation (OTCBB - BUKS) - REPORTS PROFIT FOURTH QUARTER FY 2002 AND RECORD PROFIT FOR FY 2002 ON INCREASED REVENUES OF $3,021,000, UP 50.3%.
[OLATHE, KANSAS], July 29, 2002 - Butler National Corporation filed its Annual Report for the year ending April 30, 2002, on Form 10-K pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Historical selected financial data related to all operations:
	Year Ended April 30			Quarter Ended April 30
	(In thousands except per share data)			(In thousands except per share data)
	2002	2001	2000	2002	2001	2000
Net Sales	$ 9,029	$ 6,008	$ 4,606	$ 1,655	$ 2,133	$ 837
Operating Income	1,276	(338)	(1,102)	8	298	(473)
Net Income	1,125	(485)	(1,136)	8	248	(514)
Per Share Net Income	.03	(.02)	(.06)	.00	.01	(.03)
Total Assets	9,539	10,607	10,272	nr	nr	nr
Long-term Obligations	1,254	3,254	2,940	nr	nr	nr
Shareholders' Equity	5,553	4,242	4,407	nr	nr	nr
New Product Research and Development Cost	1,020	806	539	335	141	228
nr = not reported

Highlights of the report include:

• Sales for the fiscal year increased $3,021,000, primarily from increased business in Avionics, $1,465,000, Gaming management fees, $515,000, and Aircraft Modifications, $968,000.
  

• Operating income for the fiscal year increased $1,614,000 after deducting a research and development charge of $1,020,000, primarily from improvements in Avionics, Gaming management fees, and Aircraft Modifications.
  

• Backlog at April 30, 2002, was $5,766,000, and at July 31, 2002, was $6,871,000.
  

Management Comments:

"Our determination to focus Butler National Corporation on 'Classic' Aviation Products, consistent with our long and significant heritage as a manufacturer of airline avionics equipment and a modification facility for aircraft in service is beginning to make a positive showing on the financial statements. It is our intent to provide Classic Aviation Products that will support and promote continued safe commercial and general aviation.

This has been a great year for Butler National. We experienced a significant growth in revenues and profitability in fiscal 2002. We just completed our sixth profitable quarter, April 30, 2002. However, because of our major investment in product development, we may not always maintain smooth and continuous quarterly profits. We are pleased to see the growth in operating income from the new Classic Aviation Products. Significant accomplishments were made by our operating segments and in Indian gaming. However, because of our major investment in product development, we may not always maintain smooth and continuous quarterly profits.

I am pleased with the progress by our people in 2002. One of their major accomplishments is being named Kansas Exporter of the Year. Many programs and projects are being established to continue this progress into the future. We are looking forward to a good year in fiscal 2002," 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 manufacturing of support systems for "Classic" aircraft including the Butler National 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
Butler National Corporation
Fax (913) 780-5088
19920 W. 161^st Street
Olathe, KS 66062