Daktronics Inc Stock Price, News & Analysis

Daktronics reported fiscal 2021 Q3 results with net sales of $94.1 million, down from $127.7 million in Q3 2020. The company posted a minor operating and net loss of $0.2 million, with earnings per diluted share at $0.00. Orders declined 35.6% to $86.9 million year-over-year, affecting all business units due to lower market activity amid COVID-19. However, gross profit margin improved to 25.4% from 19.2% due to favorable sales mix and a $2.1 million litigation claim reversal. Cash from operations increased significantly to $48.2 million from $6.2 million a year prior.

Daktronics has partnered with the Phoenix Suns to install a comprehensive LED super system at the Phoenix Suns Arena, featuring 18 displays and totaling over 55.1 million LEDs. This installation, completed in 2020, includes a centerhung display significantly larger than its predecessor and various lobby and auxiliary displays, enhancing the fan experience. The displays offer high-resolution content and are supported by Daktronics' Show Control system for effective content management.

Daktronics (NASDAQ-DAKT) announces major upgrades to video displays at Kauffman Stadium, enhancing fan experience starting in 2021. The main video display will feature HDR capability and a 138% increase in pixels, totaling over 3.5 million pixels, making it the eighth-largest in baseball. A new Hall of Fame display, measuring 20.5 feet high by 108 feet wide, adds over 2,200 square feet of digital display space. This expansion includes the installation of two updated fence displays, creating a combined total of 10,624 square feet of HDR displays, the third most in MLB.

Daktronics reported fiscal 2021 second quarter results showing net sales of $127.4 million, down from $174.9 million in the same quarter last year. Operating income increased to $6.7 million, with net income at $3.4 million. Earnings per diluted share stood at $0.08, down from $0.16 a year ago. Orders decreased to $135.7 million, reflecting a 10.2% decline year-over-year. However, the product order backlog grew to $201 million from $182 million. The company generated free cash flow of $34.5 million compared to a negative $19.9 million last year.

Daktronics, Inc. (NASDAQ-DAKT) announced the release of its second quarter fiscal 2021 financial results will be on December 2, 2020, before market opening. A conference call will be held at 10:00 AM CDT to discuss these results, featuring CEO Reece A. Kurtenbach and CFO Sheila M. Anderson. The call will provide forward-looking statements and material information. Participants can join via a dial-in number or online webcast. Daktronics is the leading supplier of large screen video displays and related control systems, serving global markets with various business units.

Daktronics (NASDAQ-DAKT) has been selected by Austin FC to provide a state-of-the-art LED super system for their new soccer stadium in Texas. The installation includes a main video display measuring 24 feet high by 84 feet wide and various ribbon displays, totaling 5,580 square feet. This project aims to enhance fan experience and engagement as the stadium prepares for its opening in the 2021 season. Daktronics, a leader in LED technology since 1968, has integrated systems into nearly 60% of U.S. professional sports facilities.

Daktronics (NASDAQ-DAKT) has launched Big Stream, a new streaming technology designed to enhance game day experiences for fans unable to attend events in person. This innovative product allows schools with video boards to stream their content live to fans, including audio, animations, and advertising. Big Stream is easy to use, requiring no extra staff, and is portable for use at various venues. It also integrates with existing scoring systems and can support educational programs in programming technology. The launch aims to keep fans and student-athletes connected during sports seasons.

Daktronics reported fiscal 2020 results with net sales of $608.9 million, a slight increase from $569.7 million in fiscal 2019. The company suffered an operating loss of $0.2 million but achieved a net income of $0.5 million, better than the previous year's net loss of $1 million. Fiscal 2020 orders reached $620.8 million, compared to $608.9 million in fiscal 2019. The fourth quarter saw net sales of $126.1 million and a net loss of $1.1 million. Product backlog improved to $212 million, signaling potential growth. However, cash flow was negative at $7 million as capital investments rose.

Daktronics announces the retirement of Nancy D. Frame from its Board of Directors, effective September 2, 2020. Frame has been with Daktronics since 1999 and served as Lead Independent Director since 2005. The company has nominated Dr. José-Marie Griffiths as an independent director for election at the same meeting. In response to these changes, Kevin P. McDermott will become Lead Independent Director, and James B. Morgan will chair the Nominating and Corporate Governance Committee. Griffiths is recognized for her leadership and extensive background in technology and governance.