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Daktronics Q2 Net Income Declines; Net Sales Up 29.1%

Daktronics, Inc. (DAKT) said its second quarter operating income decreased to $4.4 million from $6.7 million, last year, due to inflation in materials and freight costs and increased personnel spend compared to prior year.

Second quarter net income was $2.4 million, and earnings per share of $0.05 compared to $3.4 million, and $0.08 per share, a year ago.

Net sales increased to $164.5 million from $127.4 million, prior year, as a result of strong demand and eased pandemic related site restrictions. Orders for the second quarter increased 20.7 percent.

Reece Kurtenbach, CEO said, "Market demand continued to return to pre-pandemic levels and our order bookings grew through the first half of the year. Our operating expenses have increased as we adjust our capacity to support increased demand levels and convert our record high backlog to sales."

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