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. 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.
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Daktronics has been chosen by the Green Bay Packers to install two main and two auxiliary LED video displays, alongside 60 concourse displays at Lambeau Field. This project, encompassing around 24,500 square feet and totaling 79.5 million pixels, is set for completion in spring 2023 for the upcoming football season. The main displays will feature a 6mm pixel spacing, boasting over 26.3 million pixels each, making them the highest resolution displays in professional football. Daktronics aims to enhance fan engagement and experience with these state-of-the-art systems.
Daktronics (NASDAQ: DAKT) reported record Q3 FY2023 net sales of $185.0 million, a 32.5% increase year-over-year. The product order backlog reached $429.1 million, up from $353.3 million last year. Gross profit margin improved significantly from 16.0% to 22.6%. Operating income stood at $7.1 million, with an adjusted operating income of $11.7 million, compared to a loss of $5.7 million in Q3 FY2022. Key drivers for performance included strategic pricing, enhanced operational efficiency, and inventory management. The company also extended a $10.0 million credit facility, enhancing liquidity amidst ongoing supply chain improvements.
Daktronics Inc (DAKT) will release its third quarter fiscal 2023 financial results on March 8, 2023, before the market opens. A conference call will follow at 10:00 AM CT, hosted by CEO Reece A. Kurtenbach and CFO Sheila M. Anderson. This call will feature forward-looking statements and other significant information concerning the company's performance. Participants are required to pre-register for phone access to the call. Daktronics remains a leading supplier in large-screen video displays and electronic scoreboards, with a strong market presence across various business units.
Daktronics (NASDAQ-DAKT) will debut a new 4K and HDR-capable video display at Citizens Bank Park, home of the Philadelphia Phillies, on April 6, 2023. This display will be 77% larger than the previous one, measuring approximately 85 feet high and 151 feet wide, totaling nearly 12,900 square feet. It features enhanced resolution, improved viewing angles, and the ability to showcase multiple graphic zones, providing fans with an exceptional game experience. Daktronics continues to lead in sports venue technology, having integrated LED systems in nearly 60% of professional sports facilities in North America.