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Bulova Technologies Group, Inc. Announces 5 Year Forecast

^{Published on 2011-05-18 06:15:40 - Market Wire}
 

CLEARWATER, Fla.--([ BUSINESS WIRE ])--Bulova Technologies Group, Inc. (Pink Sheets: BLVT) (athe Companya) announced today that it was releasing its business plan and five-year forecast developed in concert with its investment advisors. The forecast is based upon the successful completion of a three million dollar capital raise by June 30, 2011. The forecast is prepared on a calendar year basis.

The forecast is principally based on a aroll-outa of our existing backlog for U.S. operations and estimated results from the NATO Member Country Mortar Exchange Program. U.S. operations represent approximately 60% of consolidated revenue and 80% of consolidated operating income.

About Bulova Technologies Group, Inc.

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

Bulova Technologies Ordnance Systems, located on 261 acres in Mayo, Florida, is a load, assemble, 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 ammunition 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.