Daktronics Q1 Profit Rises, Results Top Estimates - Quick Facts

(RTTNews) - Daktronics Inc. (DAKT) reported that its net income for the first quarter of fiscal 2015 increased to $8.75 million or $0.20 per share, from $5.72 million or $0.13 per share in the first quarter of fiscal 2014. Analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly net sales grew to $166.6 million, from $138.7 million in the previous year. Wall Street analysts had a consensus revenue estimate of $152.25 million for the quarter.

Fiscal 2015 first quarter orders were $160.7 million compared to $159.3 million for the first quarter of fiscal 2014. Backlog at the end of the fiscal 2015 first quarter was $165 million, compared with a backlog of $167 million a year earlier and $172 million at the end of the fourth quarter of fiscal 2014.

The company said it continues to see its Live Events business sustaining the fiscal 2014 sales levels in fiscal 2015 due to the continued interest in large video systems in this marketplace. It also is optimistic in its Commercial spectacular business, with some increase in demand in its on premise and third party advertising applications. In International, it sees opportunities for growth in all regions as compared to last fiscal year as activity levels are high worldwide. In the other units, it is seeing modest growth opportunities.

For fiscal 2015, the company plans to invest $25 million for capital projects including the $4 million expansion of its Minnesota manufacturing facility (nearing completion), new manufacturing equipment for various new product lines as well as machines upgrades, and in its information technology infrastructure.