BROOKINGS, S.D., June 10, 2025 (GLOBE NEWSWIRE) -- Daktronics, Inc. (NASDAQ-DAKT), announced today it will release its fourth quarter and fiscal 2025 financial results on Wednesday, June 25, 2025 before the market opens. The Company will host a conference call and webcast for all interested parties at 10:00 AM CT that day. Brad Wiemann, Interim Chief Executive Officer, and Howard Atkins, Acting Chief Financial Officer, will host the conference call, which will contain forward-looking statements and other ma ...

Core Insights - Daktronics, Inc. announced participation in the Craig-Hallum Capital Group's 22nd Annual Institutional Investor Conference on May 28, 2025, with Interim CEO Brad Wiemann and Acting CFO Howard Atkins representing the company [1] Company Overview - Daktronics is the world's largest supplier of large-screen video displays, electronic scoreboards, LED text and graphics displays, and related control systems [2] - The company operates in four domestic business units: Live Events, Commercial, High School Park and Recreation, and Transportation, along with one International business unit [2] - Daktronics specializes in the control of display systems that integrate multiple complex displays to show real-time information, graphics, animation, and video [2]

NEW YORK, April 21, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Daktronics, Inc. (“Daktronics” or the “Company”) (NASDAQ: DAKT). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether Daktronics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.  [Click here for information about joining the class action] On March ...

Core Insights - Daktronics has been selected as the official large display partner for the Tennessee Titans, set to manufacture and install 37 displays totaling over 77,000 square feet at the new Nissan Stadium, which will rank among the top three in the league for total LED square footage [1][2][3] Display Details - The installation includes a unique Ring of Fire display that encircles the upper bowl of the stadium, measuring 13 feet high by 2,275 feet wide, totaling 29,575 square feet, making it the longest display in the league with a 10-millimeter pixel spacing [2][3][4] - The main video displays will be located in the east, northwest, and southwest end zones, with the east end zone display measuring 41 feet high by 343 feet wide, totaling 14,063 square feet, while the other two displays will each measure 41 feet high by 136 feet wide [5][6] - Additional displays include 23 ribbon and vomitory displays totaling over 17,000 square feet, four concourse displays totaling 1,125 square feet, and a south exterior display measuring 3,750 square feet, all featuring various pixel spacings for enhanced viewing [8][9][10] Company Background - Daktronics, founded in 1968, specializes in large-format LED video displays and has become a global leader in audiovisual systems, serving various applications in sports, business, and transportation [13]

77,000+ square feet of LED displays will bring new venue to life in 2027 Conceptual Image BROOKINGS, S.D., April 21, 2025 (GLOBE NEWSWIRE) -- Daktronics (NASDAQ-DAKT) of Brookings, South Dakota, has been selected as the official large display partner of the Tennessee Titans and will manufacture and install 37 displays totaling more than 77,000 square feet at the team’s newly constructed Nissan Stadium set to open in 2027. This puts the stadium in the top three for total square footage of LED in the league. ...

Company Overview - Daktronics Inc. is a leading global designer and manufacturer of dynamic video communication displays and control systems [1][3] - The company holds a strong leadership position as the world's largest supplier of large-screen video displays, electronic scoreboards, and LED text and graphics displays [3] Upcoming Events - Management will present and host one-on-one meetings with investors at the Sidoti Virtual Investor Conference on March 19-20, 2025 [1] - The presentation will begin at 10:00am ET on March 19, 2025, and will be accessible live [2] - Registration for the presentation and one-on-ones is free and open to both Sidoti clients and non-clients [2]

Group 1 - Daktronics, Inc. is under investigation by Pomerantz LLP for potential securities fraud or unlawful business practices involving its officers and/or directors [1] - On March 5, 2025, Daktronics reported its Q3 fiscal 2025 results, which included significant expenses from a "business transformation plan" and lower seasonal sales volume, leading to an earnings per share (EPS) consensus miss [2] - Following the financial results announcement, Daktronics' stock price dropped by $2.13, or 14.9%, closing at $12.20 per share on the same day [2]

Core Viewpoint - Daktronics, Inc. is under investigation for potential violations of federal securities laws and unlawful business practices following disappointing financial results and a significant drop in share price [1][3]. Financial Performance - On March 5, 2025, Daktronics reported its third quarter fiscal 2025 results, which included substantial expenses related to a "business transformation plan" and lower seasonal sales volume, leading to an earnings per share (EPS) consensus miss [3]. - Following the announcement, Daktronics shares fell by $2.13, from $14.33 on March 4, 2025, to close at $12.20 on March 5, 2025 [3]. Legal Investigation - Kirby McInerney LLP is investigating potential claims against Daktronics and its officers regarding possible violations of federal securities laws [1]. - The investigation seeks to determine if there were any unlawful business practices involved [1]. Contact Information - Individuals who purchased Daktronics securities or have relevant information are encouraged to contact Kirby McInerney LLP for further discussion regarding their rights or interests [4].

Financial Data and Key Metrics Changes - Orders for Q3 FY2025 decreased by 2.7% compared to Q3 FY2024, primarily due to reduced orders in live events, high school park and recreation, and transportation business units [39] - Net sales for Q3 FY2025 decreased by 12.2% compared to Q3 FY2024, driven by lower volumes in live events, while commercial, international, and high school park and recreation units saw increased fulfillment [43][44] - Gross profit as a percentage of net sales was 24.6%, similar to 24.5% in Q3 FY2024, indicating effective cost management despite lower sales volume [44] Business Line Data and Key Metrics Changes - In live events, demand was smaller due to potential upgrades being postponed, but a significant project for a new NFL stadium was secured, expected to convert to revenue in FY2026 and FY2027 [21][22] - The commercial business saw strong out-of-home activity, with notable orders from independent billboards and upgrades for large displays [25][26] - The high school segment is experiencing a shift towards video displays, with fewer than 10% of high schools having converted to video systems, indicating significant growth potential [88] Market Data and Key Metrics Changes - International markets showed improved quoting activity, particularly in Europe, the Middle East, and Australia, with a positive trend in converting quotes to orders [95][97] - The transportation segment is experiencing variability in order placements, influenced by recent U.S. government actions, including tariff policies [41][52] Company Strategy and Development Direction - The company aims to achieve operating margins of 10% to 12% and return on invested capital of 17% to 20% by FY2028 through strategic initiatives and cost management [19][58] - A focus on digital transformation is underway, with investments in IT and data technology platforms to enhance operational efficiencies and support growth ambitions [71] - The company is committed to diversifying its revenue mix and improving the quality of revenue through strategic capital allocation and ongoing portfolio reviews [61][62] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about long-term growth potential in end markets, despite current delays in order placements and macroeconomic uncertainties [52] - The company is focused on maintaining a strong balance sheet and managing working capital effectively to support expected growth [49] Other Important Information - A leadership transition is occurring, with Reece Kurtenbach stepping down as CEO after over 34 years, and Brad Wehman appointed as interim CEO [8][11] - The company is actively engaging in share repurchase programs to offset share dilution from convertible notes [51] Q&A Session Summary Question: Can you provide more color on the delays in bookings, particularly in the transportation segment? - Management noted that delays are primarily due to large project dynamics and timing, but there is still strong quoting activity and optimism for future growth [80][81] Question: What is the current state of the high school market regarding the shift to digital displays? - The high school market is seeing increased interest in video displays, with many schools aspiring to upgrade from traditional scoreboards [88] Question: How is the company approaching capital allocation? - The company is evaluating capital allocation on a quarterly basis, focusing on investments that provide the best value, including stock buybacks and potential acquisitions [91] Question: How is the international market trending? - International quoting activity is improving, with a better conversion rate expected moving forward, particularly in Europe and Australia [95][97]

Financial Performance - Net sales for the three months ended January 25, 2025, were $149.5 million, a decrease of 12.2% compared to $170.3 million for the same period in 2024[133]. - Gross profit for the same period was $36.8 million, representing 24.6% of net sales, slightly up from 24.5% in the prior year[137]. - The company reported a net loss of $17.2 million for the three months ended January 25, 2025, compared to a net income of $10.7 million for the same period in 2024, marking a 259.7% decline[133]. - Net sales for the first nine months of fiscal 2025 decreased to $583.926 million, a decline of 3.0% compared to $602.203 million in the same period of fiscal 2024[154]. - Gross profit decreased to $152.342 million, representing 26.1% of net sales, down from 27.7% or $167.064 million in the prior year, reflecting an 8.8% decline[154]. - Net loss for the nine months ended January 25, 2025, was $696,000, compared to a net income of $32.103 million in the same period last year, marking a 102.2% decline[154]. Orders and Backlog - The product order backlog as of January 25, 2025, was $273.2 million, down from $328.3 million as of January 27, 2024, indicating a decrease due to faster order fulfillment as supply chain conditions stabilized[131]. - Orders for the three months ended January 25, 2025, totaled $186.9 million, down 2.7% from $192.1 million in the same period last year[133]. - Orders increased to $540.664 million, a growth of 1.2% from $534.386 million in the prior year, indicating a rebound in demand in certain business units[154]. Expenses and Costs - Operating expenses increased by 20.0% to $40.4 million, primarily due to higher general and administrative expenses, which rose by 55.8% to $16.5 million[133]. - Total operating expenses increased by 18.2% to $117.484 million, up from $99.376 million in the previous year, driven by higher selling, general, and administrative expenses[154]. - General and administrative expenses rose significantly by 40.8% to $43.771 million, primarily due to increased staffing for digital transformation strategies and professional fees totaling $9.0 million[160]. - Product design and development expenses increased by 9.2% to $28.902 million, focusing on advancing product features and reducing costs in emerging areas like micro-LED products[161]. Tax and Interest - The effective tax rate for the three months ended January 25, 2025, was 3.7%, significantly lower than 15.0% for the same period in 2024, due to changes in fair value adjustments[144]. - The effective tax rate for the nine months ended January 25, 2025, was recorded at 109.2%, significantly higher than 31.5% in the prior year, primarily due to non-deductible expenses related to the Convertible Note[165]. - Interest income improved to $710,000, a significant recovery from a net expense of $2.952 million in the previous year, reflecting higher cash levels[162]. Capital and Liquidity - As of January 25, 2025, the company had $132.2 million in cash and cash equivalents, indicating strong liquidity[181]. - Working capital increased to $232.0 million as of January 25, 2025, up from $209.7 million as of April 27, 2024[183]. - The company has a $60.0 million asset-based revolving credit facility with $33.4 million borrowing capacity remaining as of January 25, 2025[178]. - Total capital expenditures are projected to be approximately $20.7 million for fiscal 2025, including $8.0 million to $10.0 million for transformation efforts[186]. Segment Performance - The Commercial segment saw a net sales increase of 14.1% to $37,976 million for the three months ended January 25, 2025, driven by digital billboards and LED video display projects[148]. - Live Events segment experienced a decline in net sales of 37.2% to $46,072 million due to the absence of a large project fulfillment compared to the previous year[149]. - High School Park and Recreation segment's sales were flat, with a slight increase in gross profit margin due to cost-effective offerings[150]. - Transportation segment's sales decreased slightly, but gross profit margin improved due to a favorable product mix[151]. - International segment's net sales increased, driven by higher backlog and successful bookings in Europe and the Middle East[152]. Financial Instruments - The change in fair value of the Convertible Note resulted in a loss of $25.369 million, compared to a loss of $11.570 million in the same period last year, indicating increased volatility in the company's financial instruments[163]. - The outstanding principal balance of the Convertible Note was $11.1 million as of January 25, 2025[178].