Daktronics Shares Continue to Rise after Impressive Earnings

NEW YORK, NY / ACCESSWIRE / August 25, 2016 / Daktronics Inc. (NASDAQ: DAKT) shares spiked 9.06 percent to close at $9.03 a share Wednesday. The stock traded between $8.34 and $9.06 on volume of 1.80 million shares traded. The stock appears to have some support at $8.72, $8.30 and $8.22. Shares of Daktronics have gained approximately 3.6 percent year-to-date and are up roughly 37.2 percent in the past month. Register with us now for your free membership and gain access to our Stock reports at: www.rdinvesting.com/subscribe-today/.

Daktronics is the world’s largest supplier of, large-screen video displays, electronic scoreboards, LED text and graphics displays, and related control systems. The company excels in the control of display systems, including those that require integration of multiple complex displays showing real-time information, graphics, animation, and video.

First Quarter Fiscal 2017 Results

The company reported a net income of $5.5 million, or $0.13 per diluted share, for the first quarter of fiscal 2017, up from a net income of $3.8 million, or $0.09 per diluted share, in the first quarter of fiscal 2016 and well above Wall Street’s estimates of $0.04 to $0.05 per share. Daktronics reported revenues were $157.1 million for the fiscal first quarter, an increase of 5 percent when compared to revenues of $150.2 million and also above estimates of $147 million.

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Going Forward

Kurtenbach added, “We are entering into the second quarter with a solid backlog and with a strong pipeline of opportunities. Our teams are focused on winning orders in the ever expanding, yet competitive digital technology marketplace at prices that reflect our differentiated value. As an experienced market provider, we focus on delivering industry leading digital systems and applications through robust design and delivery, lifetime support, and quality based on our customers’ needs and priorities.”

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