by Christopher Freeburn | August 21, 2012 3:08 pm
Daktronics (NASDAQ:DAKT) announced on Tuesday that it earned $6.7 million in its fiscal first quarter, 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.
Source URL: http://investorplace.com/2012/08/daktronics-shares-surge-on-earnings-forecast/
Short URL: http://invstplc.com/1fJ1Xbu
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.