Bulova Technologies Group, Inc. Announces Financial Results September, 2008 - Business Wire
TAMPA, Fla.--(BUSINESS WIRE)--Bulova Technologies Group, Inc. (Pink Sheets: BLVT - News) (“BulovaTech” or “the Company”) announced today that for the six months ended June 30, 2009, it earned $4,003,300 on sales and other income of $25,710,100. Consolidated, condensed financial statements are as follows:
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BULOVA TECHNOLOGIES GROUP, INC. Consolidated Condensed Balance Sheet - June 30, 2009 (000’s) |
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| ASSETS | |||
| Cash | $ | 252.1 | |
| Accounts and Other Receivables | 7,644.1 | ||
| Inventory | 5,375.4 | ||
| Total Current Assets | 13,271.6 | ||
| Real Estate | 4,762.2 | ||
| Equipment | 8,512.5 | ||
| Investments and Other Assets | 5,035.4 | ||
| Total Non-Current Assets | 18,310.1 | ||
| TOTAL ASSETS | $ | 31,581.7 | |
| LIABILITIES | |||
| Accounts Payable | 2,094.1 | ||
| Deferred Revenue | 2,460.2 | ||
| Accruals | 2,668.9 | ||
| Total Current Liabilities | 7,223.2 | ||
| Long-term Debt | 2,398.0 | ||
| Capital Leases | 1,292.0 | ||
| Total Non-Current Liabilities | 3,690.0 | ||
| EQUITY | |||
| Contributed Capital | 16,665.2 | ||
| Retained Earnings | 4,003.3 | ||
| Total Equity | 20,668.5 | ||
| LIABILITIES AND EQUITY | $ | 31,581.7 | |
| BULOVA TECHNOLOGIES GROUP, INC. Consolidated Condensed Income Statement Six months ended June 30, 2009 (000’s) |
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| Sales and Other Income | $ | 25,710.1 | ||
| Cost of Sales | (16,726.2) | |||
| Selling, General & Administrative Expense | (2,311.7) | |||
| Income Tax Expense | (2,668.9) | |||
| Net Income | $ | 4,003.3 | ||
Please visit our website at www.BulovaTechGroup.com for more information.
About Bulova Technologies Group, Inc.
Headquartered in Clearwater Florida, Bulova Technologies Group, Inc. operates two facilities, Bulova Technologies Ordnance Systems in Mayo, FL and BT Manufacturing Company in Melbourne, FL. The headquarters also houses BulovaTech Labs, Inc and Bulova Technologies Combat Systems Company which is a world leader in the international sale of military vehicles, weapons and munitions in support of the U.S. Department of Defense.
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.
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