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Daktronics Q1 Profit Slightly Rises; Net Sales Down 20.3%

(RTTNews) - Daktronics, Inc. (DAKT) reported first quarter earnings per share of $0.17 compared to $0.16, a year ago. First quarter net sales were $143.6 million compared to $180.3 million, previous year. Orders were $122.2 million, compared to $187.5 million. The company noted that the the three months ended August 1, 2020 contains operating results for 13 weeks while the three months ended August 3, 2019 contained operating results for 14 weeks.

First quarter net sales decreased in all business units. The company said the change in sales primarily relates to fluctuations in the timing of order bookings, and related conversion to sales.

Reece Kurtenbach, CEO said: "During the first quarter of fiscal 2021, our customers reduced their spend on audio-visual systems as they worked through the economic and business implications of COVID-19. We took corresponding action to reduce our operating expenses to align with expected order and sales declines."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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