Company: BKTI
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009464
Chunk: 600

Company: BK Technologies Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 6
Chunk 600
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 to the Company’s competitors. The competitive analysis along with the monitoring of budgeted versus actual results are used in assessing performance of the segment and in establishing management’s compensation.   The table below summarizes the significant categories regularly reviewed by the CODM for the years ended  December 31, 2024, and 2023:
    
        2024    2023  
 Sales, net  $76,592  $74,094 
 Cost of products   47,542   51,858 
 Gross margin   29,050   22,236 
         
 Engineering and product development   7,841   9,334 
 Marketing and selling   6,206   6,058 
 General and administrative   7,175   7,621 
 Selling, general and administrative expenses   21,222   23,013 
 Operating income (loss)   7,828   (777)
         
 Other (expense) income (a)   (362)  (659)
 Income tax (expense) benefit   984   (54)
 Segment net income (loss)  $8,450  $(1,490)
         
 Reconciliation of profit or loss         
 Adjustments and reconciling item         
 Loss on investments   (91)  (740)
 Consolidated net income (loss)  $8,359  $(2,230)

       (a) Other segment items included interest expense and foreign currency exchange gains/(losses)

      F-12

      BK TECHNOLOGIES CORPORATION

      YEARS ENDED DECEMBER 31, 2024 AND 2023

      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

      (in thousands, except share data and percentages)

   2. Inventories, net
    
   Inventories, which are presented net of allowance for slow moving, excess and obsolete inventory, consisted of the following:

       December 31,    December 31,  
   2024    2023  
 Finished goods  $3,194  $4,622 
 Work in process   4,210   8,275 
 Raw materials   10,232   11,055 
  $17,636  $23,952 

   Changes in the allowance for slow-moving, excess, and obsolete inventory are as follows