• Daktronics Revenue down 12% in 3Q FY 2019

    Digital billboard manufacturer Daktronics reported a small net loss for for the third quarter of fiscal 2019 (3 months ended January 26, 2019) although the third quarter is typically weak due to the seasonality of the company’s sports business and a decrease in production days due to the holidays.   Here are the results of the firm’s earnings release and conference call.

    Daktronics Revenue declined 12% to $115 million for the third quarter of fiscal 2019 (3 months ended January 26, 2019) due to a reduction in Live Events sales and international sales.  The company’s commercial unit, which includes digital billboards, was up for the quarter.

    The firm had a net loss of $3.3 million for the third quarter of fiscal 2019 versus a net loss of $6.2 million for the third quarter of fiscal 2018.  A tax benefit associated with reduced tax rates offset increase project and litigation claims and the impact of lower revenues.

    The company’s balance sheet is healthy with cash and marketable securities of $71 million and a debt/net worth of 0.79.  Insider consider’s Debt/Worth low if it’s below 1.0.

    CEO Reece Kurtenbach remains bullish about the firm’s billboard business: “In our commercial business unit, we see opportunities for growth mainly  driven by digital opportunities in the spectacular segment, both new and replacement systems for our account based businesses, expansion of solutions for indoor applications and continued replacement in new investment activity in the out-of-home segment.”


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