• Daktronics Revenue Flat, Profits Down

    Daktronics reported flat sales and slightly lower net income for the second quarter of fiscal 2018.  Here are the results of the earnings release and the Seeking Alpha earnings call transcript.

    • Revenues were flat at $170 million for the second quarter of fiscal 2018 (three months ended October 28, 2017).
    • Net income declined $1.9 million (21%) to $7.1 million for the second quarter of fiscal 2018 due to increased warranty and maintenance agreement expenses and product development expenses.

    CEO Reece Kurtenbach said digital billboard orders were up:

    “Digital billboard orders were up slightly year-over-year. While it was a slower start for orders, the marketplace continues to adopt digital technology for on-premise and third-party advertising applications and we see this continuing in the future. The pipeline of opportunities active in the spectacular area of our business is well. We have seen strong activity for replacing or refurbishing existing systems as well as the placement of systems in new locations across our commercial segments.”

    Daktronics stock closed down 3% to $9.81.

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