Daktronics Inc Stock Price, News & Analysis

Daktronics (NASDAQ: DAKT) announced it will release its second quarter fiscal 2025 financial results on Wednesday, December 4, 2024, before market opens. The company will host a conference call and webcast at 10:00 AM CT on the same day, led by CEO Reece A. Kurtenbach and CFO Sheila M. Anderson.

Daktronics (NASDAQ:DAKT) has announced amendments to its Shareholder Rights Agreement, extending it to November 19, 2025, with a new exercise price of $40.00 and beneficial ownership thresholds of 15% (20% for passive investors). The company plans to convert $7 million of Alta Fox's $25 million convertible note into approximately 1.1 million shares, resulting in Alta Fox owning about 6% of outstanding shares. The Board rejected Alta Fox's proposal demanding $79 million to retire the note, viewing it as not in shareholders' best interests. The Rights Agreement extension aims to protect shareholder interests, particularly given Alta Fox's threats to nominate board candidates.

Daktronics (NASDAQ:DAKT) has announced plans to convert a $25 million convertible promissory note held by Alta Fox Capital Management into common stock, starting with an initial $7 million conversion on December 3, 2024. The remaining amount will be converted in tranches up to $7 million every 30 days. This decision follows the company's strong financial performance, with record revenue and profits in FY2024, and a stock price increase of over 300% in two years. The conversion will save approximately $5.4 million in interest expenses. To offset dilution, the company plans to execute share repurchases. Due to Alta Fox's 3% ownership Maximum Percentage limit, share delivery will be delayed until Alta Fox certifies lower ownership levels.

Daktronics Inc (NASDAQ: DAKT) has announced the next phase of its ongoing business transformation plan aimed at accelerating profitable growth, increasing profit margins, and driving returns consistently in the mid-to-high teens. The company has formed an internal Business Transformation Office (BTO) and an ad hoc transformation committee of the Board to oversee execution of strategic initiatives.

Key points include:

• Board initiates search for a new Chief Financial Officer
• Sheila Anderson appointed to new role of Chief Data and Analytics Officer
• Company evaluating opportunities to use and potentially augment its $29 million share repurchase authorization
• Expects Q2 fiscal 2025 revenue, gross profit, and operating income to be in line with analyst consensus

The company aims to grow revenue faster than its addressable market, expand operating margins, and generate returns on capital consistently above its cost of capital.

The Miami HEAT have partnered with Daktronics (NASDAQ: DAKT) to create the first-ever Flame Ball centerhung at Kaseya Center, Miami. The new installation features 61 LED displays covering over 11,000 square feet of digital canvas, a 585% increase from previous displays. The system boasts 72 million pixels, powered by Daktronics Show Control. The centerhung itself has 55 million pixels and 7,440 square feet of digital canvas, with the Flame Ball contributing 2,525 square feet. Additional displays installed in 2023 include corner displays, event floor clocks, basket stanchion displays, and vomitory displays. Daktronics' Camino control system enhances functionality, allowing for dynamic, real-time content rendering.

Daktronics Inc. (DAKT), a global leader in video display systems, has announced its participation in the Sidoti September Virtual Investor Conference on September 18-19, 2024. Sheila Anderson, the company's CFO, will present on September 18 at 10:00am ET and host one-on-one meetings with investors.

The presentation will be accessible via a live webinar, with registration open to both Sidoti clients and non-clients at no cost. Investors can sign up for the presentation or schedule one-on-one meetings through the Sidoti website. For those unable to attend live, a replay of the webcast will be made available on Daktronics' website.

This event provides an opportunity for investors to gain insights into Daktronics' operations and future prospects directly from the company's financial leadership.

Daktronics (NASDAQ:DAKT) reported solid results for Q1 fiscal 2025. Sales reached $226.1 million, up 4.7% sequentially. Gross profit margin improved to 26.4%, and operating income increased 16.9% to $22.7 million. Despite a non-cash debt fair value adjustment causing a net loss, adjusted net income was $16.6 million. The company saw year-over-year order growth of 11.1%, driven by rebounds in Commercial, High School Parks and Recreation, and Transportation segments. Daktronics maintains a strong financial position with $97.2 million in cash and marketable securities. The company is progressing with its digital transformation and product innovation initiatives, expecting higher orders and normalized seasonality in fiscal 2025.

Daktronics (NASDAQ: DAKT) has announced the upcoming release of its first quarter fiscal 2025 financial results. The company will disclose these results on Wednesday, September 4, 2024, before the market opens. Following the release, Daktronics will host a conference call and webcast at 10:00 AM CT on the same day.

The conference call will be led by Reece A. Kurtenbach, Chief Executive Officer, and Sheila M. Anderson, Chief Financial Officer. This event provides an opportunity for investors and interested parties to gain insights into Daktronics' financial performance and future outlook.

Daktronics (NASDAQ-DAKT) has been chosen by Crypto.com Arena in Los Angeles to install a new center-hung scoreboard. The impressive display features six screens with a total of 41.7 million pixels across 5,500 square feet. Installation began on August 1 and was completed by August 14, working around the arena's busy schedule.

The main video display wraps around the structure with 3.9-millimeter pixel spacing, measuring 27 feet high by 170.5 feet in circumference. A unique bottom display and four underbelly displays complement the main screen. The system is controlled by Daktronics' custom software, including Show Control with Camino and Venus Control Suite, offering advanced functionality for dynamic content creation.