Item 7.01 Regulation FD Disclosure.
On March 16, 2023, management of BK Technologies Corporation, a Nevada
corporation (the "Company"), discussed the Company's financial results for the
fourth quarter and year ended December 31, 2022, and certain aspects of the
Company's business plan, on an earnings conference call with analysts and
investors. A transcript of the conference call is furnished herewith as Exhibit
99.1. The supplemental slides referenced during the conference call are
furnished with this Current Report on Form 8-K as Exhibit 99.2.
The information contained in Item 7.01 to this Current Report on Form 8-K,
including the exhibits, is being "furnished" and, as such, shall not be deemed
to be "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities
of that section, nor shall it be incorporated by reference into any filing under
the Securities Act of 1933, as amended, or the Exchange Act, except as shall be
expressly set forth by specific reference in such filing.
Use of Non-GAAP Measures
The Company prepares its consolidated financial statements in accordance with
United States generally accepted accounting principles ("GAAP"). In addition to
disclosing financial results prepared in accordance with GAAP, the Company
discloses non-GAAP financial measures. Management believes the non-GAAP
financial measures discussed in Exhibit 99.2 are important to the reader of the
Company's Consolidated Financial Statements. The Company has provided the
non-GAAP financial information presented in Exhibit 99.2, which is not
calculated or presented in accordance with GAAP, as information supplemental and
in addition to the financial measures presented in the Company's earnings
release that are calculated and presented in accordance with GAAP. Such non-GAAP
financial measures should not be considered superior to, as a substitute for or
alternative to, and should be considered in conjunction with, the GAAP financial
measures presented in the press release. The non-GAAP financial measures used by
the Company may differ from similar measures used by other companies.
Adjusted earnings per share (Adjusted EPS). Adjusted EPS is considered a
non-GAAP financial measure under the SEC's rules because it excludes certain
amounts included in the diluted earnings per share attributable to the Company
calculated in accordance with GAAP (EPS), the most directly comparable financial
measure calculated in accordance with GAAP. Adjusted EPS is a non-GAAP
financial measure that adjusts GAAP EPS for expense items that are typically
strategic in nature or that management otherwise does not view as reflecting the
operating performance of the company. Management believes Adjusted EPS can help
the reader better understand the operating performance of the core businesses
and their ability to generate earnings. The Company has developed and introduced
the BKR product line, that has resulted in one-time, non-cash adjustments to
inventory and adjustments related to new product development raw materials for
the BKR product line during the 4Q 2022. Management believes that these one-time
charges do not reflect the operational profitability of the business for the 4Q
and full year 2022. See Reconciliation to GAAP in Exhibit 99.2.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
99.1 March 16, 2023 Earnings Conference Call Transcript
99.2 Supplemental Slides Referenced During the Fourth Quarter and Year End
Conference Call of BK Technologies Corporation
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
2
© Edgar Online, source Glimpses