Daktronics Q4 2021 Earnings Report
Key Takeaways
Daktronics reported a decrease in net sales for the fourth quarter of fiscal year 2021, but experienced an increase in orders and improved profitability compared to the same period last year. The company's backlog also increased, and they are optimistic about future growth.
Fourth quarter orders increased by 16.3% compared to the fourth quarter of fiscal 2020, driven by growth in Commercial, Live Events, High School Park and Recreation, and International business units.
Net sales for the fourth quarter of fiscal 2021 decreased by 7.3% compared to the fourth quarter of fiscal 2020, with declines in Live Events and International business units.
Gross profit as a percentage of net sales increased to 23.6% for the fourth quarter of fiscal 2021, compared to 22.7% a year earlier.
Operating income as a percentage of sales was 1.0% for the fourth quarter of fiscal 2021, compared to an operating loss as a percentage of sales of 2.7% for the fourth quarter of fiscal 2020.
Daktronics
Daktronics
Daktronics Revenue by Segment
Forward Guidance
Daktronics anticipates increased order and quoting activities will lead to a strong backlog and positive outlook for fiscal year 2022. They expect customer markets to recover as people move and gather safely, and they are investing in new technologies and markets to meet expected demand. However, they also anticipate headwinds in material, labor, freight availability, and inflation.
Positive Outlook
- Increased order and quoting activities.
- Strong backlog.
- Positive outlook for fiscal year 2022.
- Expected recovery in customer markets as people move and gather safely.
- Investments in new technologies and markets to meet expected demand.
Challenges Ahead
- Headwinds in material availability.
- Headwinds in labor availability.
- Headwinds in freight availability.
- Headwinds in inflation.
- Potential volatility in revenue cycles and production costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income