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Daktronics' CEO Discusses Q3 2011 Results - Earnings Call Transcript

Stocks in this article: DAKT

While the use of these products is more prevalent in Asia. It's relatively new in the U.S. and so as we -- we're excited to get these installations online, because as more people see these and see how they can be used, we believe it will open more opportunities. So we continue to develop new products in this area and find new opportunities.

On the competitive front, the price pressure in the industry remains quite intense. We are continuing our efforts in implementing the cost reductions to loss to offer improved products at a reduced cost, that remains the top priority. We will be continuing our focus on cost reduction looking at all aspects of our business, while we continue to work hard to book orders.

With that, I'll turn it over to Bill Retterath to give more perspective on the numbers.

Bill Retterath

Thanks, Jim. As mentioned on our press release, baseball contracts have certainly helped us the last quarter. We booked over $20 million, a multimillion dollar professional baseball contracts over the last two quarters, which is in addition to that large contract booked last fiscal year for the Florida Marlins. During the quarter, we recognized over $15 million of revenue and have roughly 15 more to go with approximately $11 million left in the fourth quarter. We're also in contract negotiations for two orders approximating $12 million for Live Events that have slipped into the fourth quarter, but would contribute to revenues in fiscal '12.

Read the rest of this transcript for free on seekingalpha.com

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