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Daktronics Shares Surge on Earnings, Forecast

The electronic sign maker says current quarter sales will rise


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.

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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.

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