Daktronics Q4 2024 Earnings Report
Key Takeaways
Daktronics reported a strong fiscal fourth quarter and year, with record fourth quarter sales of $215.9 million, a 2.9% increase compared to the prior year. The company saw improvements in gross margin and operating income, driven by improved manufacturing efficiency and strong on-time delivery to customer sites.
Sales increased to a record $215.9 million for the fiscal fourth quarter, a 2.9 percent increase compared to the fiscal 2023 fourth quarter.
Gross margin for the fourth quarter improved 90 basis points to 25.7 percent from 24.8 percent in the year-earlier period.
Operating income for the fiscal fourth quarter grew 6.4 percent to $19.4 million as compared to the fourth quarter of fiscal 2023.
New product and service orders for the fourth quarter were $205.8 million, a 14.6 percent increase from $179.5 million in the year-earlier period.
Daktronics
Daktronics
Daktronics Revenue by Segment
Forward Guidance
Daktronics is focused on strategic priorities in fiscal 2025 to transform and strengthen its business model to enhance earnings power. These priorities include prioritizing among end markets, attacking structural costs, and improving the operating model.
Positive Outlook
- Executing a broad digital transformation to modernize service systems for field service automation.
- Advancing enterprise performance planning capabilities.
- Improving and automating quoting and sales processes.
- Extending market leadership and emphasizing higher margin product areas.
- Pursuing growth opportunities to further penetrate serviceable addressable market.
Revenue & Expenses
Visualization of income flow from segment revenue to net income