Daktronics tumbles to over 1-month low on Q1 loss

Daktronics

31/08/2022 17:01

** Shares of digital display maker Daktronics Inc  DAKT.O  down
~21% at $3.26, hitting a more than 1-month low
    ** DAKT reports Q1 loss of 12 cents a share vs a profit of 8
cents a share a year earlier, citing slowing international
demand due to inflation and shutting of its facilities in
Shanghai on China's COVID-19 curbs
    ** Q1 orders down 6.3% from a year earlier  urn:newsml:reuters.com:*:nGNX7lBFTw
    ** However, net sales up 18.8% to $171.9 mln due to
increased backlog conversions 
    ** "We anticipate a dynamic and volatile supply chain and
tight labor market to persist throughout this fiscal year," says
CEO Reece Kurtenbach
    ** Stock down ~25% YTD vs a ~26% decline in the NASDAQ
Computer Index  .IXK 

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))