Daktronics announces quarterly financial results.

daktronics-profile-image_400x400The digital billboard manufacturer Daktronics announced higher profits for the second quarter of fiscal 2017.  You can listen to the earnings webcast here download the firm’s investor slides here.

  • Net sales increased 8% to $170 million during the second quarter of fiscal 2017 (3 months ended October 29, 2016).  Commercial unit sales, which includes the company’s out of home advertising unit, were flat.
  • Net income totaled $9 million for the second quarter of fiscal 2017, up from $3.2 million a year earlier due to higher sales and lower warranty costs.
  • Orders for the second quarter of fiscal 2017 declined 14% due to lower orders by the company’s Live Events and Transportation business units.  Commercial business unit orders were up compared to last year primarily due to the award of several large projects in the spectacular niche and an increase in business in on-premise and billboard niches.
  • CEO Reece Kurtenbach said on the webcast the the firm’s out of home advertising business was relatively flat in the second quarter and he expects the out of home business to be stable during the next year.  Kurtenbach mentioned the firm was going to introduce new control products during the year ahead.

 


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