Daktronics Shares Surge on Earnings, Forecast

by Christopher Freeburn | August 21, 2012 3:08 pm

Daktronics Shares Surge on Earnings, Forecast

Daktronics (NASDAQ:DAKT[1]) announced on Tuesday that it earned $6.7 million in its fiscal first quarter[2], up 97% from $3.4 million in the same period last year.

The maker of electronic billboards recorded revenue of $132.9 million, up 12% from $118.7 million in 2011. That topped the $120.4 million in revenue that analysts were expecting, Reuters noted.

EPS for the first quarter was 16 cents, up from 8 cents last year, and easily beating the 4 cents a share Wall Street anticipated.

Investors liked the news. Shares of Daktronics surged more than 18% in Tuesday afternoon trading.

Company officials forecast increased sales in the current quarter compared to last year, due to a record number of orders for signs taken during the last quarter.

Endnotes:
  1. DAKT: http://studio-5.financialcontent.com/investplace/quote?Symbol=DAKT
  2. in its fiscal first quarter: http://in.reuters.com/article/2012/08/21/daktronics-results-idINL4E8JL3FK20120821

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