By Will Feuer
Daktronics posted higher sales and swung to a profit in its fiscal second quarter as the display maker benefited from higher prices and reduced lead times.
The Brookings, S.D., company, which makes electronic scoreboards and other displays, reported a profit of $2.2 million, or 5 cents a share, for the three months ended Oct. 28, compared with a loss of $13 million, or 29 cents a share, in the same period last year.
Sales rose 6.4% to $199.4 million. The company’s gross profit as a percentage of net sales was 27.2%, up from 16.9% a year ago. The company cited price increases and a pickup in volume as reasons for the increase.
Daktronics said orders during the quarter were roughly flat with a year ago as strength in its international and transportation businesses offset the declines in the out-of-home and so-called spectacular markets of its commercial business.
Chief Executive Reece Kurtenbach said the company has been able to reduce its backlog as supply-chain challenges resolve and lead times come down.
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