Daktronics reports record FY2023 sales of $754.2M, operating income $21.4M; going concern resolved

DAKTRONICS INC /SD/

Record net sales $754.2M for FY2023 (+23.4% YoY); Q4 sales $209.9M (+29.4% YoY).
Gross margin improved to 20.1% for FY2023 vs 19.1% prior year; Q4 margin 24.8% vs 18.5%.
Operating income $21.4M for FY2023 vs $5.4M prior year; adjusted op income $26.0M vs $4.0M YoY.
Going concern substantial doubt resolved; backlog at $401M entering FY2024.
Orders down 19.5% for FY2023 due to normalization post-COVID surge; generated $15M cash from ops.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

DAKTRONICS INC /SD/ reported the fourth quarter of fiscal 2023 results: revenue $209.9 million.

Period: the fourth quarter of fiscal 2023
Revenue: $209.9 million
Result: reported results

Exact text from the filing

Record sales of $754.2 million for the 2023 fiscal year and $209.9 million for the fourth quarter, up 23.4 percent and 29.4 percent compared to the 2022 fiscal year and fourth quarter, respectively

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

DAKTRONICS INC /SD/ reported the fiscal year ended April 29, 2023 results: revenue $754.2 million.

Period: the fiscal year ended April 29, 2023
Revenue: $754.2 million
Result: reported results

Exact text from the filing

Record sales of $754.2 million for the 2023 fiscal year and $209.9 million for the fourth quarter, up 23.4 percent and 29.4 percent compared to the 2022 fiscal year and fourth quarter, respectively

View on SEC.gov

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Source: SEC EDGAR

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