Welcome to our dedicated page for Daktronics news (Ticker: DAKT), a resource for investors and traders seeking the latest updates and insights on Daktronics stock.
Daktronics Inc (DAKT) delivers cutting-edge display solutions for sports venues, transportation hubs, and commercial applications worldwide. This news hub provides investors and industry professionals with direct access to official corporate announcements and market-moving developments.
Track all essential updates from the electronic display leader in one centralized location. Our curated collection features press releases covering financial results, product innovations, contract awards, and strategic initiatives across Daktronics' core business segments.
Expect comprehensive coverage of earnings reports, LED technology advancements, live event solutions, and transportation display systems. Discover updates on international expansions, high school recreation projects, and commercial digital signage deployments.
Bookmark this page for streamlined access to Daktronics' latest corporate communications. Check regularly for real-time updates on the electronic display specialist's market position and technological leadership.
Daktronics (NASDAQ:DAKT) has been selected as the official large display partner for the Tennessee Titans' new Nissan Stadium, set to open in 2027. The project includes 37 LED displays totaling over 77,000 square feet, placing the stadium among the top three in the league for total LED square footage.
The centerpiece is the innovative 'Ring of Fire' display, measuring 13 feet high by 2,275 feet wide, making it the longest display in the league at 29,575 square feet. The installation also features three main video displays totaling 25,215 square feet, with the east end zone display measuring 41 feet high by 343 feet wide.
Additional features include 23 ribbon and vomitory displays totaling 17,000 square feet, concourse displays of 1,125 square feet, and the league's largest exterior display at 3,750 square feet. The stadium will also include specialized displays in the Titans' locker room and interview room, featuring narrow pixel pitch technology.
Daktronics (Nasdaq: DAKT), a global leader in dynamic video communication displays and control systems, has announced its participation in the upcoming Sidoti Virtual Investor Conference scheduled for March 19-20, 2025.
The company's management will deliver a presentation on March 19, 2025, at 10:00am ET, which will be accessible through a live webinar. Additionally, the management team will conduct one-on-one meetings with investors on the same day.
The event registration is complimentary and open to both Sidoti clients and non-clients through www.sidoti.com/events. Investors can access a replay of the presentation webcast on Daktronics' website following the event.
Daktronics (NASDAQ:DAKT) announced significant leadership changes and Q3 FY2025 financial results. Reece Kurtenbach is stepping down as Chairman, President and CEO, transitioning to an advisory role. Brad Wiemann has been appointed Interim CEO, while Howard Atkins becomes Acting CFO and Chief Transformation Officer.
Q3 FY2025 financial highlights include:
- Sales decreased 12.2% to $149.5 million
- Operating loss of $3.6 million compared to $8.0 million income year-over-year
- Net loss of $17.2 million, with adjusted net income of $0.5 million
- Product orders decreased 2.7% to $186.9 million
- Backlog stands at $273.2 million
The company's transformation plan aims to achieve revenue growth above market rate (7-10%), expand operating margins to 10-12%, and reach 17-20% return on capital by fiscal 2028. Key initiatives focus on profitable growth, cost reduction, and digital transformation, with benefits expected in second half of fiscal 2026 and fiscal 2027.
Daktronics (NASDAQ:DAKT) has entered into a cooperation agreement with Alta Fox Capital Management, its largest shareholder. The agreement includes the appointment of Peter Feigin, President of Milwaukee Bucks and Fiserv Forum, to Daktronics' Board of Directors, where he will join the Transformation Committee.
Key terms of the agreement include:
- Daktronics will host an Investor Day in 2025
- Alta Fox will provide input on the search for a new CFO
- Alta Fox agrees to withdraw all litigation against Daktronics
- Alta Fox will support Daktronics' reincorporation to Delaware
- Alta Fox commits to standstill restrictions and voting commitments through the 2027 annual meeting
Daktronics (NASDAQ:DAKT) has announced it will release its third quarter fiscal 2025 financial results on Wednesday, March 5, 2025, before market opens. The company will host a conference call and webcast at 10:00 AM CT on the same day.
CEO Reece A. Kurtenbach and CFO Sheila M. Anderson will host the conference call, which will include forward-looking statements and material information. Participants must pre-register to receive dial-in information and a PIN for call access. Related presentation materials will be available on Daktronics' Investor Relations website before the call.
Alta Fox Capital Management, Daktronics' (NASDAQ: DAKT) largest shareholder with 11.7% ownership, has issued a statement addressing what it calls misleading claims from Daktronics regarding negotiations over Alta Fox's convertible note. The investment firm disputes Daktronics' version of events, stating they never intended to sell their entire stake but were open to retiring a portion in exchange for governance reforms.
Alta Fox claims Daktronics did not offer fair market value for their shares or propose meaningful governance improvements. In response to rejected offers, Daktronics called a Special Meeting to reincorporate in Delaware and eliminate cumulative voting, which Alta Fox views as an attempt to diminish their influence. The firm maintains that Daktronics is undervalued and criticizes the board and management for owning less than 2.5% of the company while being net sellers.
Daktronics (NASDAQ:DAKT) has responded to recent litigation and public comments from Alta Fox Capital Management regarding the company's proposed reincorporation to Delaware. The company's stock has generated over 23% annualized returns over five years and increased by more than 110% in the past twelve months.
The proposed reincorporation aims to adopt modern governance features, including majority voting for uncontested director elections and proxy access. Daktronics claims Alta Fox has been seeking to sell its equity stake while publicly claiming long-term commitment, demanding premium prices for its convertible note and shares above market value.
The company states Alta Fox demanded above-market prices, expense reimbursements since 2022, litigation release fees, and interest payments approximately four times the actual amount owed. Daktronics intends to defend against Alta Fox's lawsuit and proceed with the reincorporation plan, which would align its voting standards with over 90% of U.S. public companies.
Alta Fox Capital Management, Daktronics' (NASDAQ: DAKT) largest shareholder with 11.7% ownership, has filed a federal lawsuit against the company and its CEO Reece A. Kurtenbach. The lawsuit challenges Daktronics' proposal to reincorporate from South Dakota to Delaware, which would eliminate cumulative voting rights.
Alta Fox believes this move is an entrenchment maneuver designed to protect underperforming directors and weaken shareholder rights. The timing of the reincorporation proposal comes after Alta Fox's announced plan to nominate new director candidates. The activist investor has filed a preliminary proxy statement to solicit votes AGAINST the reincorporation proposal at the upcoming Special Meeting.
Alta Fox criticizes the company's governance practices, including staggered director elections, a poison pill, and a combined Chair-CEO role. If successful in their lawsuit, Alta Fox plans to call a special meeting to declassify the Board, remove the poison pill, and elect new independent directors.
Breach Inlet Capital, a top 10 shareholder owning 2.0% of Daktronics (NASDAQ: DAKT), announced its intention to vote against the company's proposed reincorporation from South Dakota to Delaware. The investment firm argues that the Board's primary motive for reincorporation is to eliminate cumulative voting, a right that enables minority shareholders to gain Board representation more easily.
The firm criticizes the Board for attempting to remove this pro-shareholder right while maintaining the classified Board structure. According to a preliminary proxy statement by Alta Fox Capital Management, company advisors allegedly threatened to remove cumulative voting if a negotiated resolution couldn't be reached promptly.
Breach Inlet Capital believes eliminating cumulative voting would make it more difficult for shareholders to reconstitute the Board with candidates committed to acting in shareholders' best interests.
Anchor Capital Advisors, a shareholder of Daktronics (NASDAQ: DAKT), has expressed support for governance improvements at the company. The firm advocates for adding shareholder-supported board members to address Daktronics' undervaluation and implementing a de-classified board structure to enhance corporate governance.
Anchor Capital recommends that Daktronics maintain its South Dakota incorporation for now, suggesting a potential future move to Delaware. They argue that immediate reincorporation could weaken non-insider shareholder influence and impede positive changes supported by major shareholders. The firm believes these proposed governance enhancements are important for Daktronics' long-term success.
