NEW YORK (TheStreet) -- Shares of Daktronics (DAKT) are soaring 7.67% to $12.91 Tuesday afternoon following the electronic-display systems company's better-than-expected fiscal first quarter earnings and an optimistic outlook.
Daktronics reported posted net income of $8.7 million, or 20 cents per share, up from $5.7 million, or 13 cents per share one year ago, and beating the Capital IQ estimate of 19 cents per share.
The company's net sales for the quarter of $166.6 million were up from $138.7 million in the same quarter of last year, and above the $152.4 million analysts estimated.
Separately, TheStreet Ratings team rates DAKTRONICS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate DAKTRONICS INC (DAKT) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
- You can view the full analysis from the report here: DAKT Ratings Report