### Revenue Performance
Butler National reported revenues of $21.36 million, marking an 8.97% year-over-year growth and a 7.73% increase quarter-over-quarter. This uptick is attributed to enhanced demand in the aerospace sector, particularly in modernization services.
### Profitability Metrics
- Gross Profit stood at $9.93 million, reflecting a gross profit margin of 46.47%, up from previous quarters. This indicates effective cost management in product offering.
- Operating Income increased to $4.85 million, a 37.27% growth sequentially and 34.91% year-on-year, demonstrating operational efficiency.
- Meanwhile, net income decreased to $3.60 million, with an EPS of $0.0529, indicating volatility in net margins, attributed to increased operational expenses and interest costs.
### Balance Sheet Strength
The company holds total assets of $114.33 million, with a notable cash position of $16.16 million, demonstrating liquidity and financial flexibility. The current ratio is robust at 1.83, indicating healthy short-term financial stability.