Bulova Technologies Group, Inc. News

Bulova Technologies Group, Inc. Updates Filing Status August 24, 2010 - Business Wire

TAMPA, Fla.--(BUSINESS WIRE)--Bulova Technologies Group, Inc. (Pink Sheets:BLVT) ("BulovaTech" or "the Company") announced today that it recently filed Form 10-Q for the quarter ended March 31, 2009. The Company has been completing delinquent filings for periods beginning in 2006. The current filing is the first period that includes the Company's actual operating results.

Revenue for the quarter was $12,742,000, with a net loss of $226,000, or .3¢ per share. Revenue for the Company's core defense contracting segment was $12,254,000, with net income of $919,000, or 1.3¢ per share. The Company's contract manufacturing segment incurred a loss of $804,000. The entire Form 10-Q is available on the BulovaTech website.

The backlog in the Company's core defense contracting segment currently exceeds $60,000,000. As previously announced, the Company is attempting to sell its contract manufacturing segment.

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 Bulova Technologies Combat Systems Company.

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.

Bulova Technologies Group, Inc.
Stephen Gurba, 727-536-6666

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