Daktronics Inc. designs, manufactures, markets and services electronic display systems, including large-format LED video displays, scoreboards, message displays, digital billboards, audio systems and related control systems. News about DAKT commonly covers display projects for sports venues, transportation facilities and commercial environments, including video boards, ribbon boards, media walls and refreshed display systems using the Daktronics Renew product line.
Company updates also include financial results, order and backlog commentary, investor events, leadership and governance developments, and activity across its Live Events, Commercial, High School Park and Recreation, Transportation and International business units.
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.