Daktronics Files Q1 FY25 10-Q
Ticker: DAKT · Form: 10-Q · Filed: Sep 4, 2024 · CIK: 915779
Sentiment: neutral
Topics: 10-Q, financials, equity
TL;DR
Daktronics Q1 FY25 10-Q filed. Equity details shown, no specific profit/loss yet.
AI Summary
Daktronics Inc. reported its first quarter results for fiscal year 2025, ending July 27, 2024. The company's financial statements show a balance of retained earnings and additional paid-in capital, with common stock and treasury stock also listed. Specific revenue or profit figures for the quarter are not detailed in this excerpt.
Why It Matters
This filing provides a snapshot of Daktronics' financial health and equity structure at the end of its first fiscal quarter, which is crucial for investors to assess the company's stability and performance.
Risk Assessment
Risk Level: low — This filing is a routine quarterly report and does not contain immediate, significant negative news.
Key Numbers
- FY25 Q1 — Fiscal Quarter (Reporting period for the 10-Q)
- 2024-07-27 — End Date (End of the reporting period)
Key Players & Entities
- DAKTRONICS INC (company) — Filer of the 10-Q
- 20240727 (date) — End of the reporting period
- 20240904 (date) — Filing date
- 57006 (dollar_amount) — ZIP code for Brookings, SD
FAQ
What is the total value of Daktronics' common stock as of July 27, 2024?
The filing indicates 'us-gaap:CommonStockMember' for the period ending 2024-07-27, but the specific dollar value is not provided in this excerpt.
What was the previous reporting period's end date?
The previous reporting period ended on 2023-07-29.
What is Daktronics' IRS number?
Daktronics' IRS number is 460306862.
In which state is Daktronics incorporated?
Daktronics is incorporated in South Dakota (SD).
What is the filing date of this 10-Q report?
This 10-Q report was filed on 2024-09-04.
Filing Stats: 4,657 words · 19 min read · ~16 pages · Grade level 16.5 · Accepted 2024-09-04 15:52:48
Filing Documents
- dakt-20240727.htm (10-Q) — 1126KB
- dakt-20240727x10qex311.htm (EX-31.1) — 11KB
- dakt-20240727x10qex312.htm (EX-31.2) — 11KB
- dakt-20240727x10qex321.htm (EX-32.1) — 5KB
- dakt-20240727x10qex322.htm (EX-32.2) — 5KB
- dakt-20240727_g1.jpg (GRAPHIC) — 11KB
- 0000915779-24-000083.txt ( ) — 5692KB
- dakt-20240727.xsd (EX-101.SCH) — 36KB
- dakt-20240727_cal.xml (EX-101.CAL) — 60KB
- dakt-20240727_def.xml (EX-101.DEF) — 180KB
- dakt-20240727_lab.xml (EX-101.LAB) — 422KB
- dakt-20240727_pre.xml (EX-101.PRE) — 315KB
- dakt-20240727_htm.xml (XML) — 772KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets as of July 27, 2024 and April 27, 2024 1 Condensed Consolidated Statements of Operations for the Three Months Ended July 27, 2024 and July 29, 2023 3 Condensed Consolidated Statements of Comprehensive (Loss) Income for the Three Months Ended July 27, 2024 and July 29, 2023 4 Condensed Consolidated Statements of Shareholders' Equity for the Three Months Ended July 27, 2024 and July 29, 2023 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended July 27, 2024 and July 29, 2023 7 Notes to the Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.
Controls and Procedures
Controls and Procedures 29 Part II. Other Information 29 Item 1.
Legal Proceedings
Legal Proceedings 29 Item 1A.
Risk Factors
Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 30 Index to Exhibits 31
Signatures
Signatures 32 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
Item 1. FINANCIAL STATEMENTS DAKTRONICS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) (unaudited) July 27, 2024 April 27, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 96,809 $ 81,299 Restricted cash 379 379 Accounts receivable, net 132,021 117,186 Inventories 134,949 138,008 Contract assets 54,129 55,800 Current maturities of long-term receivables 436 298 Prepaid expenses and other current assets 8,579 8,531 Income tax receivables 110 448 Total current assets 427,412 401,949 Property and equipment, net 73,613 71,752 Long-term receivables, less current maturities 119 562 Goodwill 3,197 3,226 Intangibles, net 767 840 Debt issuance costs, net 2,220 2,530 Investment in affiliates and other assets 20,708 21,163 Deferred income taxes 25,850 25,862 TOTAL ASSETS $ 553,886 $ 527,884 1 Table of Contents DAKTRONICS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (continued) (in thousands, except per share data) (unaudited) July 27, 2024 April 27, 2024 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Current portion of long-term debt $ 1,500 $ 1,500 Accounts payable 67,265 60,757 Contract liabilities 71,782 65,524 Accrued expenses 39,448 43,028 Warranty obligations 16,408 16,540 Income taxes payable 543 4,947 Total current liabilities 196,946 192,296 Long-term warranty obligations 22,467 21,388 Long-term contract liabilities 17,378 16,342 Other long-term obligations 4,270 5,759 Long-term debt, net 74,472 53,164 Deferred income taxes 142 143 Total long-term liabilities 118,729 96,796 SHAREHOLDERS' EQUITY: Preferred Shares, no par value, authorized 50 shares; no shares issued and outstanding — — Common Stock, no par value, authorized 115,000 shares; 48,523 and 48,121 shares issued as of July 27, 2024 and April 27, 2024, respectively 69,242 65,525 Additional paid-in capital 52,566 52,046 Retained earnings 133,085 138,031 Treasury Sto