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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,563.30 -317.06 -1.88%
S&P 500 1,930.67 -39.40 -2.00%
NASDAQ 4,369.7730 -93.1290 -2.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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