Daktronics Q3 FY2024: Operating income up 12.9% to $8.0M; orders jump 29.4%

DAKTRONICS INC /SD/

2024-Q3 EPS reported $0.69 revenue$602,203,000

Q3 orders $192.1M (+29.4% YoY); YTD orders $534.4M (+6.6%).
Sales $170.3M (-7.9% YoY) due to tough prior-year compare from pandemic backlog fulfillment.
Gross margin 24.5% (vs 22.6%); operating margin 4.7% (vs 3.8%).
Backlog $328.3M, down from $400.7M at FY2023 end as lead times normalize.
Cash from ops $53.8M for nine months; debt $50.0M; no revolver draws.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DAKTRONICS INC /SD/ reported three and nine months ended January 27, 2024 results: revenue $170.3 million.

Period: three and nine months ended January 27, 2024
Revenue: $170.3 million
Result: reported results

Exact text from the filing

Q3 FY2024 financial highlights: • Year-to-date product and service orders were $534.4 million (1) , an increase of 6.6 percent as compared to $501.4 million in the same period of fiscal 2023; during the third quarter of fiscal 2024, new product and service orders were $192.1 million, a 29.4 percent increase from $148.4 million in the year-earlier period • Sales of $170.3 million, a 7.9 percent decrease from the third quarter of fiscal 2023; the year-ago period's record revenue was driven by high backorder fulfillment as a result of recovery from pandemic-related supply chain challenges and labor availability

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Source: SEC EDGAR

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