Company: BKTI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026668
Chunk: 19

Company: BK Technologies Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 Other (expense) income (a)   19   (141)  (95)  (331)
 Income tax (expense) benefit   (275)  (220)  (945)  (241)
 Segment net income  $3,741  $1,664  $5,873  $2,436 
                 
 Reconciliation of profit                  
 Adjustments and reconciling item                 
 Loss on investments   -   -   -   (91)
 Consolidated net income  $3,741  $1,664  $5,873  $2,345 

   Note 2. Significant Events and Transactions
    
   As we continue to move forward into 2025 the Solutions business unit will continue to expand to include public safety solutions that provide for improved interoperability which will make the first responder safer and more efficient when operating in the field.  The new Solutions business will also continue to build a portfolio of solutions under a new brand, BK ONE.  BK ONE includes SaaS solutions such as InteropONE as well as future software and hardware applications.
    
   On  October 30, 2024, a wholly owned subsidiary of the Company entered into a new credit facility with Fifth Third Bank, National Association, which provides for a one-year revolving line of credit with a maximum commitment of $6 million, with an accordion feature, if certain conditions are met, for up to a maximum commitment of $10 million. For additional information, see Note 10 of the consolidated financial statements.
    
   .

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   Note 3. Allowance for Credit Losses
    
   The allowance for credit losses on trade receivables was approximately $50 on gross trade receivables of $11,592 and $7,399 as of  June 30, 2025, and  December 31, 2024, respectively. The measurement and recognition of credit losses involves the use of judgment and represents management’s estimate of expected lifetime credit losses based on historical experience and trends, current conditions, and forecasts. The Company’s assessment of expected credit losses includes consideration of historical credit loss experience, the aging of account balances, customer concentrations, customer creditworthiness, and current and expected economic, market and industry factors affecting the Company’s customers, including their financial condition. The Company evaluates its