Daktronics Q1 FY2024 net sales $232.5M (+35%), operating income $40.2M vs prior year loss

DAKTRONICS INC /SD/

2024-Q1 EPS reported $0.42 revenue$232,531,000

Net sales rose 35.3% YoY to $232.5M, a Q1 record; gross margin improved to 30.6% from 15.0%.
Operating income rebounded to $40.2M (17.3% of sales) vs operating loss of $5.5M a year ago.
Product order backlog was $323.7M, down from $400.7M at end of Q4 FY2023.
Cash and marketable securities $54.9M; long-term debt $41.4M; no draws on line of credit.
Generated $19.3M from operations; used $4.5M for property and equipment.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

DAKTRONICS INC /SD/ reported fiscal 2024 first quarter which ended July 29, 2023 results: revenue $232.5 million.

Period: fiscal 2024 first quarter which ended July 29, 2023
Revenue: $232.5 million
Result: reported results

Exact text from the filing

Inc. (NASDAQ - DAKT) today reported results for its fiscal 2024 first quarter which ended July 29, 2023. Q1 FY2024 financial highlights: • Record first quarter net sales of $232.5 million, a 35.3 percent increase from the first quarter of fiscal 2023 • Gross profit as a percentage of net sales of 30.6 percent as a result of record sales volume, stable operations

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Source: SEC EDGAR

accession 0000915779-23-000080

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