Daktronics (DAKT) Reports Q4 Loss of $0.02/sh

Daktronics (NASDAQ: DAKT) reported Q4 EPS of ($0.02), versus ($0.24) reported last year. Revenue for the quarter came in at $126.1 million, versus $127.76 million reported last year.

Outlook:

Kurtenbach continued, "In March 2020, the World Health Organization declared the outbreak of COVID-19 a global pandemic, and in the following weeks, many countries and U.S. states and localities issued lock down orders impacting businesses globally. Like many other companies, the pandemic and related social reactions have impacted our business and have created an unprecedented and challenging time. Our growth-oriented focus of investing in the development of sales channels and new products for long-term success has turned to reacting to the new near-term realities of this uncertain business environment. We have taken actions to reduce costs and to focus on key priorities to position ourselves for a strong recovery when the crisis is over. However, the ensuing depth and length of impact to the economy and our customers reactions to the environment create uncertainties predicting fiscal 2021 opportunities.

“The market's increasing adoption and use of digital solutions, along with our new technology releases, cause us to remain positive on the overall future of our business and growth in the industry.”

For earnings history and earnings-related data on Daktronics (DAKT) click here.

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