Daktronics: Orders Up, But Lockouts Present 'Risk'
Shares were up at electronic scoreboard and billboard maker, Daktronics, today after reporting Q2 revenue of $126.9 million and net income of $7.0 million, compared to revenue of $115.4 million and net income of $4.8 million during the same period a year ago.
CEO Jim Morgan expressed optimism in the overall spending environment for 2011.
"The outlook for order from our two largest billboard customers for calendar 2011 is very positive, which we see as in turn, indicative of the overall outlook for the outdoor advertising industry," Morgan said.
Daktronics has seen no adverse business effects from looming potential lockouts in the NBA and NFL, according to Morgan.
"There’s a discussion about it of course, but to say have we seen anything yet, no we haven’t really seen anything yet, but certainly, that’s an issue that’s out there in a number of the sports, professional sport area and how that might go down," Morgan said. "So it certainly is a, you know, it’s a risk that’s out there that could delay some things."