Daktronics, Inc. reported fiscal 2020 first quarter net sales of $180.3 million, operating income of $7.6 million, and net income of $7.0 million, compared to net sales of $154.2 million, operating income of $4.0 million, and net income of $4.6 million, for the first quarter of fiscal 2019. Fiscal 2020 first quarter orders were $187.5 million, compared to $159.6 million for the first quarter of fiscal 2019. Product order backlog at the end of the fiscal 2020 first quarter was $207 million, compared to $177 million a year earlier and $202 million at the end of the fourth quarter of fiscal 2019.

Daktronics did mention in their press release that fiscal 2020 is a 53-week year and fiscal 2019 was a 52-week year.  The extra week of fiscal 2020 fell within the first quarter, resulting in a 14-week quarter versus a 13-week quarter comparison.  Sales, orders and other results of operations were impacted due to the additional week of operations.

Reece Kurtenbach, chairman, president and chief executive officer stated,

“We are pleased with the strong start to the year in order and sales volumes.  Our teams are focused on market development and deployment of our newly designed solutions to both new and existing customers.  Our investments are yielding additional features in our control systems and broadening our lineup of displays contributing to increased orders.”

“We remain optimistic about our long-term outlook.  Our product and technology portfolios position us for growth and allows us to serve a growing global customer base.  We continue to invest in new technologies and advanced manufacturing techniques to provide innovative solutions.  While economic concerns linger and the global tariff and trade environment create headwinds in the near-term, our pipeline of project opportunities remains active and support growth.  We are focused on these conditions and on carefully managing capacity and spend to drive profitability.”

On a comparative basis commercial sales showed the largest increase over fiscal 2019 with an increase of 44.1%.

The market responded positively to Daktronics news as shares were up 17% in early Wednesday trading.

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