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Daktronics' CEO Discusses Q1 2012 Results - Earnings Call Transcript

We are also finishing the design for our new architectural lighting product, which we'll ship in second quarter. We also continue to invest in our control systems. And in fact, approximately 1/2 of our product development investment actually is in the control system side of things. We have few platforms there, our Show Control platform for live events applications, such as sporting events, and our Visiconn, that's spelled v-i-s-i-c-o-n-n, for scheduled program and applications, which is typically advertising.

We continue to see opportunities for IPTV, that's Internet Protocol Television, in stadiums with the strength of our integrated control systems, controlling and synchronizing displays throughout the stadium. We have now completed several major IPTV installations. And we expect to be able to announce another IPTV contract award for Major League Baseball in the near future. All of these product developments will position us to be more competitive and enable us to improve our gross profit margins.

We also continue to invest in expanding our International business, which takes investment both in terms of selling expense and administrative expense. At the same time, the results for our International business in the quarter demonstrate that there is opportunity on that front. And we are very pleased with how our International business is performing.

On the cost side, in general, we have opportunities for efficiency gains on all expense line items on the income statement, from the cost of goods sold through SG&A. Some of these improvements will take some time to develop. We continue to be cost conscious in all areas of the business and continue our efforts at streamlining our processes and our procedures to eliminate cost, which typically is time, out of all of our processes throughout the company.

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