CLEARWATER, FL--(Marketwired - Aug 23, 2016) - Bulova Technologies Group, Inc. (OTC PINK: BTGI) announced today that after the incorporation of the financial impact of the recent acquisitions, the company has achieved a Group record for revenues of $6,802,451 for the third quarter 2016 versus $291,776 for the third quarter 2015.
Accompanying the record revenues, the Group recorded a substantial gross profit of $2,036,540 versus $48,891 for the third quarter 2015. These revenue and gross profit numbers represent a substantial improvement in both the sales and operations of the companies.
Stephen L. Gurba, President and Chief Executive Officer of BTGI, stated: "On behalf of BTGI, we are pleased to report to our shareholders, our employees and the public these substantial improvements in our company's performance. We are continuing to seek additional business opportunities in both the transportation and the CNC machining equipment market segments that will further focus our operations in the areas currently providing our record performance for the third quarter."
About Bulova Technologies Group, Inc.
Bulova Technologies Group, Inc., Bulova Technologies Compliance & Security LLC, Bulova Technologies Health Care Products LLC, Bulova Technologies Europe LLC and Bulova Technologies Machinery LLC's headquarters are located in Clearwater, Florida and BT-Twiss Transport LLC's headquarters are located in Largo, Florida.
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.