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Bulova Technologies Group, Inc. To Provide Revenue and Earning Guidance

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  Published in Science and Technology on Tuesday, March 15th 2011 at 6:11 GMT by Market Wire
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CLEARWATER, Fla.--([ BUSINESS WIRE ])--Bulova Technologies Group, Inc. (Pink Sheets: BLVT) (or the aCompanya) today provided the following update to shareholders and other interested parties.

In accordance with plans previous announced, the Company has sold its contract manufacturing subsidiary, BT Manufacturing Company LLC, located in Melbourne, Florida in order to focus on its core business. The sale was completed on March 11, 2011.

Stephen L. Gurba, President and CEO, stated: aCombined with the sale of Bulova Tech Labs last year, this sale will permit the Company to focus its attention on its core defense business. Our recent successes in acquiring contracts which have the potential of producing revenue of $500 million over the next 5 years, has underscored that the Companya™s abilities are more beneficially targeted toward the defense marketplace.a

The Company also announced that it will provide revenue and earnings guidance during the month of April 2011. Guidance will cover a 5 year projection period and will include the Companya™s expectations from its European operations.

About Bulova Technologies Group, Inc.

Bulova Technologies Group, Inc. and Bulova Technologies (Europe) are headquartered in Clearwater, Florida. Bulova Technologies (Europe) is registered with the United States Department of State Directorate of Defense Trade Controls (DDTC) as a broker.

Bulova Technologies Ordnance Systems, located in Mayo, Florida, is a load, assembly, and pack (L.A.P.) facility specializing in fuzes, safe and arming devices, and explosive simulators.

Bulova Technologies (Europe) is a systems prime contractor with focus on refurbishment of all mortar calibers for NATO countries.

Please visit our website at [ www.BulovaTechGroup.com ] for more information.

Forward-Looking Statement

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.