This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Video Display Corp Increases Annual Earnings Guidance

Company CEO Ron Ordway stated, "Our first quarter represented a continuation of the positive trend reflected in the final quarter of fiscal 2010, both in increased revenues and earnings for the Company. Strong demand for our most advanced display products allowed the Company to bid numerous new projects as we began shipments on previously won long term contracts for major defense and commercial customers. We were also able to control operating expenses in the quarter with a reduction of 8%, even though revenues were 24% higher, through the $2.5 million expense reduction program implemented in the beginning of fiscal 2010." He further stated, "With the strong 1st quarter, the Company exceeded its guidance of $0.05 by 40% at $0.07 in earnings per share. Based upon the current level of order booking, I continue to believe that VDC's revenues for fiscal 2/28/2011 will be in the range of $78 million to $82 million or an increase of 11% to15% above revenues reported for fiscal 2010. Earnings per share, previously projected to be in the range of $0.20 to $0.22, are currently guided to reach $0.23 to $0.25 per share for the full year of fiscal 2011."

Video Display Corporation designs, develops and manufactures unique solutions for display requirements for military, medical and industrial use with emphasis on high end training and simulation applications. Its product offerings include ruggedized AMLCD and CRT displays as well as complete projection systems utilizing VDC's Marquee(TM) and ESCP line of projectors. Video Display Corporation operates eight display design and manufacturing plants with additional sales facilities throughout the United States and Europe. For more information, visit the Company's web site at www.videodisplay.com.

This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, from time to time, Video Display Corporation or its representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in, but are not limited to, various filings made by the Company with the Securities and Exchange Commission, press releases or oral statements made with the approval of an authorized executive officer of the Company. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions, including items discussed in the Company's Form 10-K for the year ended February 28, 2010, filed with the Securities and Exchange Commission. The Company undertakes no duty to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. 

  Three Months Ended May 31,
  2010 2009
     
Net sales $ 20,337 $ 16,351
     
Cost of goods sold 13,900 10,513
     
 Gross profit 6,437 5,838
     
Operating expenses    
 Selling and delivery 1,868 1,783
 General and administrative 3,395 3,944
  5,263 5,727
     
 Operating profit 1,174 111
     
Other income (expense)    
 Interest expense  (302)  (200)
 Other, net  65  300
   (237)  100
     
 Income before income taxes  937 211
     
Income tax expense  360 60
     
Net income  $ 577 $ 151
     
Basic earnings per share of common stock $ .07 $ .02
Diluted earnings per share of common  stock   $ .07   $ .02
Basic weighted average shares outstanding   8,365   8,593
Diluted weighted average shares outstanding   8,700   8,883
     
CONTACT:  Ron Ordway
          Video Display Corporation
          770-938-2080
          Fax: 770-493-3903

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
VIDE $2.47 2.77%
AAPL $128.54 -0.63%
FB $80.90 1.63%
GOOG $573.37 -0.05%
TSLA $202.44 1.44%

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs