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Daktronics' CEO Discusses Q3 2012 Results - Earnings Call Transcript

Daktronics (DAKT)

Q3 2012 Earnings Call

February 21, 2012 11:00 am ET

Executives

James B. Morgan - Chief Executive Officer, President and Director

Analysts

James Ricchiuti - Needham & Company, LLC, Research Division

Stephen Altebrando - Sidoti & Company, LLC

Steven L. Dyer - Craig-Hallum Capital Group LLC, Research Division

Richard A. Ryan - Dougherty & Company LLC, Research Division

Presentation

Operator

Good day, ladies and gentlemen, and welcome to the Daktronics Fiscal Year 2012 Third Quarter Earnings Result Conference Call. As a reminder, this conference is being recorded today, Tuesday, February 21, 2012, and is available on the company's website at www.daktronics.com [Operator Instructions] I will now turn the conference over to our host, Mr. Bill Retterath, Chief Financial Officer for Daktronics for some introductory remarks. Please go ahead, sir.

James B. Morgan

Good morning, everyone. Thanks for joining us this morning. We ended with a nice backlog and we delivered a relatively strong topline. The bottom line, however, was disappointing for us. We had a number of cost shift that added up to a couple percent reduction in margin from what we're expecting. We're also in a bit of a valley in terms of professional sports opportunities, which is compounding our situation at the moment by holding orders at a lower level than we would like to see. But overall, the pipeline for fall sports is strong, especially in the college area for the 3 months we'll set the stage for sales for this sports season for our first and second quarter.

Although we are typically positioned very strongly on these projects, we are seeing new competitors and tend to buy these projects that we have followed in the past is not something competitors like to do and can afford to do on an ongoing basis. And in the meantime it can sometimes when a project for them with a customer decided to take the risk, given the price.

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