Butler National Corporation (BUKS) has reported an 86.27 percent plunge in profit for the quarter ended Jan. 31, 2017. The company has earned $0.01 million in the quarter, compared with $0.10 million for the same period last year.

Revenue during the quarter went up marginally by 2.06 percent to $11.30 million from $11.07 million in the previous year period. Total expenses were 98.92 percent of quarterly revenues, up from 96.01 percent for the same period last year. That has resulted in a contraction of 291 basis points in operating margin to 1.08 percent.

Operating income for the quarter was $0.12 million, compared with $0.44 million in the previous year period.

"The fiscal quarter-ended January 31, 2017 was a successful quarter continuing a positive fiscal year 2017. The increase in revenue reflects an increase in Professional Services revenue of 5% and a decrease of 3% in Aerospace Products revenue. Butler National Corporation continues to drive growth in international markets and through the development of new supplemental type certificates. We are excited about the future and are striving for a successful fourth quarter to end fiscal 2017. Management and all employees are focused on the development of new products, execution of our numerous business development opportunities as well as increasing revenue while managing costs. We believe we are positioned for the future as we focus on serving the needs of our customers and enhancing shareholder value," commented Clark D. Stewart, president of the Company.