Daktronics to exit Ireland plant, cut 1.5% of revenue unit; sees $18M annual savings vs $15.8M charges

DAKTRONICS INC /SD/

Board approved Irish Phase-Out: Ennistymon, Ireland plant closure substantially complete by mid-FY2028; $13.5M cumulative charges ($11.7M severance, $0.8M exit costs, $1.0M PP&E impairment).
Total restructuring charges ~$15.8M non-recurring pre-tax, incl. ~$7.0M in Q2 FY2027; expected annualized run-rate savings >$18.0M when fully implemented by mid-FY2028.
Realigning production across U.S., Mexico, China; new 355,000 sq ft leased China facility; ~$1.0M costs (incl. $0.3M voluntary severance) fully recouped in FY2027, $7.0M annualized net savings.
Exiting highly customized international transportation (rail/bus/roadway) ~1.5% of revenue; closing Hong Kong and Macau offices; new international leader based in London to be named.
Corrects 10-Q clerical error: FY2027 capex projection was $23.4M, not $13.2M as stated on page 29; no impact on reported financial statements.

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