LARGO, Fla.--(BUSINESS WIRE)--Bulova Technologies Group, Inc. (BTGI) announced today it achieved revenues of $6,259,160 from its operations for the three month period ending March 31, 2017 and $10,796,812 income on deconsolidation of its Bulova Technologies Ordnance Systems LLC subsidiary, yielding a net income of $8,626,292 to BTGI.
Revenues for the six month period ending March 31, 2017 are $12,646,404.00 with net income of $7,188,454.00. The BTGI fiscal year is October 1, 2016 through September 30, 2017.
Stephen L. Gurba, President and Chief Executive Officer of Bulova Technologies Group, Inc., stated, “We are pleased by the results of this quarter and we look forward to an increase in our operations' revenue in succeeding quarters.” We are optimistic that revenues of $28,000,000.00 will be achieved by our fiscal year end of September 30, 2017.
About Bulova Technologies Group, Inc.
Bulova Technologies Group, Inc., Bulova Technologies Compliance & Security LLC, Bulova Technologies Health Care Products LLC, Bulova Technologies Europe LLC, Bulova Technologies Machinery LLC, Bulova Technologies Finance LLC and BT-Twiss Transport LLC’s headquarters are all located in Largo, Florida.
Please visit our website at www.bulovatechgroup.com for more information.
Statements about the Company’s future expectations and all other statements in this press release other than historical facts, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management.