Daktronics, a supplier of electronic scoreboards, reported Tuesday fiscal Q1 net profit of $0.19 per share, up from $0.13 per share in the prior year period and higher than the $0.13 per share Street estimate provided by Capital IQ.
Net sales for the quarter ended July 29 were $172.7 million, up from $157.1 million reported for the same period last year and higher than the $165 million Street estimate. “We are starting our Q2 with a strong backlog and pipeline of order opportunities,” CEO Reece Kurtenbach said. “While order volume can be lumpy due to a variety of factors, we continue to see the video display business expanding. We expect continued success in managing the business for long-term profitable growth. We are focused on enhancing our overall product line-up to create opportunities to capture a broader customer base. To deliver value to our customers and serve the markets’ expectations, we plan to increase the level of expenditures for new or enhanced customer solutions as compared to prior years during fiscal 2018.”