Welcome to our dedicated page for Daktronics news (Ticker: DAKT), a resource for investors and traders seeking the latest updates and insights on Daktronics stock.
Daktronics Inc (NASDAQ: DAKT) is a U.S.-based manufacturer of dynamic video communication displays and control systems, supplying large-screen LED video displays, electronic scoreboards, LED text and graphics displays, digital billboards, audio systems and related control systems. This news page aggregates company announcements, investor communications and other material updates related to Daktronics.
According to its public "About Daktronics" statements and SEC filings, the company serves customers worldwide through five business units: Live Events, Commercial, High School Park and Recreation, Transportation and International. News coverage for Daktronics often includes earnings releases, backlog and order updates, information on large sports venue projects, transportation display contracts and developments across these business units.
Investors can use this page to follow Daktronics’ quarterly and annual financial results, as reported in press releases and Form 8-K filings, as well as announcements about executive leadership changes, board composition, stock incentive plans and share repurchase authorizations. The company frequently issues notices about upcoming earnings calls, investor conferences and webcasts, which are reflected in its news flow.
Product and technology-related news may highlight new display offerings, enhancements to indoor and outdoor video products, and initiatives in areas such as MicroLED and MicroIC technologies following the acquisition of intellectual property and equipment assets from X Display Company Technology Limited. Updates on business and digital transformation efforts, manufacturing footprint changes and cooperation agreements with shareholders also appear in Daktronics’ news releases.
By reviewing the news items linked on this page, readers can see how Daktronics communicates its operational progress, strategic initiatives and corporate governance developments over time.
Daktronics (NASDAQ-DAKT) collaborated with Heritage Outdoor Media to install an LED digital billboard in Times Square, featuring 8-millimeter resolution SMD technology. This high-definition display, located at 1530 Broadway, aims to enhance branding opportunities for businesses amid significant foot traffic, averaging 260,000 daily visitors. The installation was completed in less than seven working days, minimizing disruptions. The billboard includes advanced features like augmented reality and social media interactivity, positioning it as a pivotal advertising space in a prime location.
Daktronics reported fiscal Q2 2023 results with net sales of $187.4 million, a 14% increase year-over-year. Orders were $182.8 million, up 11.7% compared to last year, with a backlog of $463.1 million. However, the company faced a net loss due to a $13 million non-cash tax asset adjustment, raising concerns about its ongoing viability. Cash and marketable securities fell to $7.7 million from $61.6 million a year prior. Operating income was $1.5 million, with gross profit margins declining to 16.9%.
Daktronics, Inc. (NASDAQ - DAKT) expands its Board of Directors to eight members by appointing Howard I. Atkins as the eighth director. This move follows a Cooperation Agreement with Prairieland Holdco, LLC, aimed at enhancing shareholder value. Atkins, a seasoned financial executive, is expected to contribute significantly to the board's strategic development efforts. His term will last until the 2023 annual meeting, and he will serve on the Board’s compensation committee. The board's refreshment process underscores Daktronics' commitment to long-term growth and value creation.
Daktronics Inc (Nasdaq – DAKT) has announced a change in the schedule for its second quarter fiscal 2023 earnings release and conference call. The company will release its financial results on December 12, 2022, before market opening, followed by a call at 10:00 AM CT. CEO Reece A. Kurtenbach and CFO Sheila M. Anderson will lead the call, which will include forward-looking statements. Interested parties must register to access the call and obtain dial-in details.
Daktronics Inc (Nasdaq – DAKT) will release its second quarter fiscal 2023 financial results on December 7, 2022, before market opening. CEO Reece A. Kurtenbach and CFO Sheila M. Anderson will host a conference call at 10:00 AM CT, featuring forward-looking statements. Interested participants must pre-register for dial-in details. The call will also be available via webcast. Daktronics is recognized as the world's largest supplier of large-screen video displays and related control systems, serving diverse markets worldwide.
Daktronics has announced a significant upgrade at the SAP Center in San Jose, featuring 14 new LED displays designed to enhance fan experience during events. This includes a seven-display centerhung configuration totaling over 9,300 square feet, alongside a ribbon display and six pendant displays. The main displays will feature a resolution of 5.9 millimeters, with variable content zoning capabilities for flexible content presentation. This project solidifies Daktronics' position as a leader in sports venue technology.
Daktronics has completed the installation of new end wall video displays and over 3,000 linear feet of ribbon displays at the Crypto.com Arena in Los Angeles. This project enhances the fan experience during games for the Los Angeles Lakers, LA Kings, Los Angeles Clippers, and Los Angeles Sparks. The new displays feature 5.9-millimeter pixel spacing and will provide live video, statistics, and graphics. This marks a significant upgrade as Daktronics continues to lead in LED solutions for major venues.
The Board of Directors of Daktronics announced the retirement of James Morgan effective September 7, 2022. Morgan has been with the company since 1969, serving as a Director since 1984 and contributing as Chair of the Nominating and Corporate Governance Committee since June 2020. His leadership has significantly influenced the company, including his past role as CEO from 2001 until 2013. Lance Bultena has been appointed as the new chairperson of the committee. Chairman Reece A. Kurtenbach expressed gratitude for Morgan's contributions and noted that his expertise will be missed.
Daktronics reported Q1 FY2023 results with net sales at $171.9 million, marking an 18.8% increase year-over-year. Despite strong demand, the company faced an operating loss of $5.5 million due to inflation and supply chain issues. Orders dropped 6.3% compared to last year but remained robust at $170.2 million. The product backlog stood high at $469.1 million. Operating expenses rose to $31.3 million, reflecting a 18% increase. Free cash flow worsened to negative $33.1 million due to strategic investments and high accounts receivable.
Daktronics, Inc. (NASDAQ: DAKT) announced a Cooperation Agreement with Prairieland Holdco, LLC, involving Board of Directors changes as part of ongoing refreshment efforts. Andrew Siegel will be nominated to the Board for election at the 2022 Annual Meeting, expanding the Board from seven to eight directors. Following the agreement, over half of the Board will comprise new members within two years, emphasizing a focus on long-term growth and shareholder engagement. Siegel aims to leverage Daktronics’ potential, which he believes is currently undervalued.