Bulova Technologies Group, Inc. News

Bulova Technologies Announces Profitable Q1 Earnings on $14.9 million in Revenue; Plans Begin to Go Fully Reporting and File Complete Quarterly Financials May 4, 2009 - Business Wire

TAMPA, Fla.--(BUSINESS WIRE)--Bulova Technologies Group, Inc. (Pink Sheets: BLVT - News) (“BulovaTech” or “the Company”) announced today that it earned $541,000 on revenue of $14,901,000 in the quarter ended March 31, 2009. The Company also announced today that it is interviewing accounting firms to begin the process of becoming a fully reporting company.

Bulova Technologies notes that subsidiary Bulova Technologies Ordnance Systems LLC was recently awarded a new $30 million announced last week from a division of the U.S. Government. Together with an existing backlog of contracts, Bulova Technologies anticipates 2009 revenues to grow substantially over prior years. 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 the 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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