Daktronics, Inc. | $DAKT Stock | Shares Shoot Up as Company Reports Fiscal Q4 Profits


Daktronics, Inc. (NASDAQ: DAKT)



Daktronics, Inc. (DAKT), a global company that designs, manufactures, and sells a range of electronic display systems and related products yesterday reported their fiscal fourth quarter 2017 financial results.

Daktronics reported a fiscal fourth quarter net income of $909k. Daktronics reported fourth quarter earnings of $0.02 per share. Daktronics reported fiscal fourth quarter revenues of $143.7 million.   


Daktronics, Inc. CEO’s  Comments

Reece Kurtenbach, chairman, president and chief executive officer, stated, “Fiscal 2017 was a positive year for Daktronics.  We realized an increase in order volume, sales, and profit.  Our financial improvement is attributable to a number of factors.  The global economic conditions improved over the year prompting more projects to move forward, which we benefited from as our solutions provide value to a broad customer base.  We were successful in winning a number of projects for high-profile locations, for larger sized sports video projects, and standardized solutions for businesses and schools.  During the year, we increased sales by integrating ADFLOW solutions into our portfolio.  ADFLOW is the company we acquired late in fiscal 2016.  Globe Newswire


DAKT Technical Analysis


DAKT opened trading yesterday at $9.00 which was down from the previous day’s trading close of $9.28. DAKT closed trading yesterday at $9.93 and spiked up after market to $10.49, equivalent to a 5% increase from the closing price. Taking a look at the daily chart we can see the last time DAKT traded above these levels we have to go back to January 13th when it traded at $10.60.

Taking a closer look at the daily chart we can see that before the spike up DAKT had been in an overall downward trend dating back to January 4th when it traded at $11.00. DAKT has a float of 36.87 million shares and traded 3.07 times the normal daily trading volume on Wednesday.

For day trading purposes, I would like to see DAKT open trading on Thursday above $10.00 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.20 from my entry position fearing anything more than that and the stock would start to fill in the gap up.


Company Profile

Daktronics, Inc., together with its subsidiaries, designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation, as well as controllers; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms. It also provides message displays; ITS dynamic message signs, including LED displays for road management, mass transit, and aviation applications; digit and directional displays for use in parking facilities; and audio systems for outdoor sports venues. In addition, the company offers static and digital billboards used to display static images, which change at regular intervals for the out-of-home (OOH) advertising industry; Visiconn system, a software application for controlling content and playback loops for digital billboard applications; and street furniture comprising advertising light boxes for static, scrolling, and digital OOH campaigns. Further, it provides digit and price displays, such as outdoor time and temperature displays, as well as Fuelight digit displays for the petroleum industry; and dynamic messaging systems for retailers, convenience stores, and other businesses, as well as maintenance and professional services related to its products. The company sells its products through direct sales and resellers. Daktronics, Inc. was founded in 1968 and is based in Brookings, South Dakota.  Yahoo Finance