Daktronics reports Q4 EPS (2c), one est. (7c)

Reports Q4 revenue $126.1M, one est.$119.82M. Fiscal 2020 fourth quarter orders were $147.2M compared to $162.5M for the fourth quarter of fiscal 2019. Product backlog at the end of the fiscal 2020 fourth quarter was $212M, compared to a backlog of $202M a year earlier and $187M at the end of the third quarter of fiscal 2020. Reece Kurtenbach, chairman, president and CEO, stated, "As we entered into fiscal 2020, we focused on winning more orders through existing and new markets and sales channels, developing and deploying newly designed solutions and advanced manufacturing techniques, and managing capacity and spend. We achieved these goals. Our investments in technology yielded additional features in our control systems and broadened our lineup of displays which contributed to the second highest level of order volume in our company's history. This order level is a testament of our continued leadership in the marketplace as customers choose Daktronics for our broad range of solutions, the reliability of our products, and our commitment to serve them over the lifetime of their system. Significant projects for fiscal 2020 included Texas Rangers where we provided a complete audiovisual control solution throughout the park and at the San Jose Airport where we provided displays for the nation's first all-digital airport advertising network. To support our long-term technology advancement strategies, we participated in a Series A investment in X Display Company. XDC creates and owns leading intellectual property and capabilities in microLED mass transfer technology. This investment supports our line of narrow pixel pitch LED displays and will enable solutions to move into the realm of less than 1-millmeter pixel spacing."