Bulova Technologies Group, Inc. (OTCPK:BTGI) shares are simply on fire today as the Company announced their second quarter revenues. The Company stated that they achieved revenues of $6,259,160 from their operations for the three-month period ending March 31, 2017 and $10,796,812 income on deconsolidation of its Bulova Technologies Ordnance Systems LLC subsidiary, yielding a net income of $8,626,292 to BTGI.
Revenues for the six-month period ending March 31, 2017 were $12,646,404.00 with net income of $7,188,454.00. The Company President and CEO, Stephen L. Gurba, also went on record stating, “We are pleased by the results of this quarter and we look forward to an increase in our operations' revenue in succeeding quarters.” The Company is also optimistic that revenues of $28,000,000.00 will be achieved by their fiscal year end of September 30, 2017.
Investors loved the strong results sending shares of BTGI up a whopping 142.68% to $0.0068 in mid-day trading today on very high volume. To believe these revenue numbers were not expected by the investment community would be an understatement as investors piled in to this quickly growing multi-industry Company that has its toes in the medical, security, technology and transportation industries among other things.
