NEW YORK (Thomson Financial) - Daktronics Inc. Wednesday said second-quarter
net income dipped to $8 million, or 19 cents a share, from $8.9 million, or 22
cents a share, in the same period last year.
Second-quarter revenue increased 25% to $131.4 million from $123.5 million
in the last year's comparable quarter.
The mean estimate of analysts polled by Thomson Financial was for earnings
of 22 cents a share and revenue of $136 million in the period ended Oct. 27.
The company said sales were impacted by more than $3 million as a result of
production issues, which it has taken action to remedy. Revenue should partially
recover by the third quarter, the company said.
The integrated systems company provided third-quarter guidance for earnings
between 10 cents and 15 cents a share and revenue between $107 million and $116
million.
Analysts' consensus view is for earnings of 19 cents a share and revenue of
$131 million in the third quarter.
Shares of the Brookings, S.C.-based company closed Tuesday at $28.57.
Melinda Peer
mp/pc
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