The 10-second takeaway
For the quarter ended Oct. 27 (Q2), Daktronics beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share expanded significantly.
Margins grew across the board.
Daktronics booked revenue of $149.9 million. The four analysts polled by S&P Capital IQ foresaw revenue of $142.8 million on the same basis. GAAP reported sales were 10% higher than the prior-year quarter's $135.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.27. The four earnings estimates compiled by S&P Capital IQ predicted $0.15 per share. GAAP EPS of $0.27 for Q2 were 200% higher than the prior-year quarter's $0.09 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 28.3%, 510 basis points better than the prior-year quarter. Operating margin was 11.3%, 690 basis points better than the prior-year quarter. Net margin was 7.7%, 480 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $129.6 million. On the bottom line, the average EPS estimate is $0.09.
Next year's average estimate for revenue is $534.4 million. The average EPS estimate is $0.47.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 431 members out of 466 rating the stock outperform, and 35 members rating it underperform. Among 96 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 91 give Daktronics a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Daktronics is outperform, with an average price target of $12.17.
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