Butler National Corporation announced its financial results for the fiscal year ended April 30, 2025, reporting record revenue and operating income. Total revenue increased by 7% to $84.0 million, up from $78.4 million in fiscal year 2024. Operating income saw a substantial 27% increase, reaching $16.8 million compared to $13.2 million in the prior year, leading to an expanded consolidated operating margin of 20%.
Net income for fiscal year 2025 increased to $12.6 million from $12.5 million in fiscal year 2024, despite a lower contribution from asset sales ($1.6 million in FY2025 vs. $5.7 million in FY2024). Earnings per share rose to $0.19 from $0.18, partly driven by the company's repurchase of 2.6% of its outstanding common stock. The Aerospace Products segment's revenue increased by 15% to $45.7 million, with its operating margin improving significantly to 16.8% from 11.4%.
The Professional Services segment's revenue remained nearly constant at $38.3 million, with sports wagering revenue growing to $5.8 million in FY2025 from $4.6 million in FY2024, offsetting declines in traditional gaming. This segment's operating margin improved to 23.9% from 22.6%. The company invested $1.7 million in new product development, including STCs and gun control designs, and expanded fabrication capabilities with a new facility in Newton, Kansas.
The backlog as of April 30, 2025, totaled $33.6 million, an increase from $30.3 million in the prior year. Executive Chairman Jeffrey Yowell noted that the performance reflects a deliberate shift toward higher-margin product lines and improved operational alignment. These efforts, combined with disciplined execution, are laying the foundation for sustainable, scalable growth.
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