Daktronics delays Q2 earnings; discloses substantial doubt about going concern and material weakness

DAKTRONICS INC /SD/

Substantial doubt about ability to continue as a going concern due to cash flow volatility and liquidity needs.
Material weakness identified in internal controls over financial reporting and accounting for income taxes.
Will file Form 12b-25 to extend 10-Q deadline to December 13, 2022.
Earnings release and conference call postponed to December 12, 2022.
Pursuing additional liquidity via mortgage financing, sale-leaseback, or asset sales, but plans not finalized.

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