Bulova Technologies Group, Inc. News

Bulova Technologies Group, Inc Provides Defense Contracting Sector Update December 28, 2009 - Business Wire

TAMPA, Fla.--(BUSINESS WIRE)--Bulova Technologies Group, Inc. (Pink Sheets: BLVT - News) (“BulovaTech” or “the Company”) today provided an update of its defense contracting sector regarding topics of interest to shareholders and other parties.

As indicated in our December 14 press release, The Defense Sector currently has an approximate $69 million backlog, primarily in the simulator and fuzing areas.

There are many opportunities in both the international systems area for our Combat Systems Group located in Clearwater, Florida and the Ordnance Systems Group located in Mayo, Florida. International conflicts continue to drive the demand for munitions and services that are provided by the dedicated capabilities of the Company. Rebuilding munitions inventories will continue even if conflicts lessen. We currently have seven bids in activity which could generate an additional $60 million in backlog by the end of the calendar first quarter 2010. As these programs are awarded we will release more details of the projects.

We are in the process of establishing an advisory board for the defense sector that will include individuals with significant defense backgrounds to enhance the Company’s strategic focus in this dominant business segment.

Our Contract Manufacturing group is expected to show significant growth in 2010. 2009 was primarily a restructuring and transition year. We moved to a new facility in Melbourne, FL to increase efficiency and profitability. This new facility is geared to better serve our existing customers and to accommodate additional business.

Our company-wide restructuring has also reduced overhead significantly, making the Company very competitive in its core markets.

Stephen Gurba, President and CEO

John Stanton, Chairman

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.

Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statement of Bulova Technologies Group officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future Bulova Technologies Group actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and Bulova Technologies Group has no specific intention to update these statements.

Contact:
Bulova Technologies Group, Inc.
Beverly Mercer, 727-451-6560
www.bulovatechgroup.com

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