Daktronics posts strong quarter on high margin contracts

Tue Aug 21, 2012 5:25pm IST

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Aug 21 (Reuters) - Electronic scoreboard and billboard maker Daktronics Inc reported higher quarterly results, helped by high margin contracts in its live events and transportation segments, and forecast higher sales in the second quarter.

Net income rose to $6.7 million, or 16 cents per share, in the first quarter from $3.4 million, or 8 cents per share, a year earlier.

Revenue for the quarter rose to $132.9 million from $118.7 million a year earlier.

"With the record level of orders booked during the first quarter of fiscal 2013, we expect that net sales in the second quarter of fiscal 2013 will exceed the level of net sales in the second quarter of fiscal 2012," Chief Executive Jim Morgan said in a statement.

Shares of the company closed at $8.06 on the Nasdaq on Monday.

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