Daktronics (DAKT) Tops Q2 EPS by 9c
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Daktronics (NASDAQ: DAKT) reported Q2 EPS of $0.20, $0.09 better than the analyst estimate of $0.11. Revenue for the quarter came in at $170 million versus the consensus estimate of $161.5 million.
Reece Kurtenbach, chairman, president and chief executive officer stated, “We are pleased with our second quarter of fiscal 2017 financial performance. We achieved higher net sales and experienced improved profitability during the second quarter of fiscal 2017 compared to the second quarter of fiscal 2016. Our sales levels improved with the timing of large project delivery and we saw increases in demand in the Commercial and International businesses. Our High School Park and Recreation business unit is having a great year, with orders up more than 25 percent during the quarter. A year ago, we were working through a warranty issue that took time, attention, and financial resources away from improving our business. This year, we have been able to return our focus to product development activities."
Kurtenbach added, “The pipeline of order opportunities in the worldwide marketplace remains strong. While orders and backlog as compared to last year at this time are slightly down, we are optimistic about continued growth through the activity and interest in the worldwide marketplace for desired usage of digital technology. However, we recognize that there is uncertainty in the global macroeconomic picture; therefore, we are carefully managing our costs through continuous improvement and execution of our processes.
Our value statement sets us apart and we offer a broad range of solutions to meet our diverse customers' needs. We are strategically investing in product design and development for a number of customer solution areas and we have a goal to accelerate development of world-class solutions to capture a broader customer base in the growing digital global market."
For earnings history and earnings-related data on Daktronics (DAKT) click here.
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