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10-Q Filing

DAKTRONICS INC /SD/ CIK: 915779 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0000915779-13-000093
Period End Date 20130731
Filing Date 20130830
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance dakt-20130727.xml
Filing Contents
Balance Sheet 112 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $38.84M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $29.42M USD Point-in-time
Common stock, no par value (in dollars per share) CommonStockNoParValue - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $40.63M USD Point-in-time
Common stock, no par value (in dollars per share) CommonStockNoParValue - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $22.12M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $43.00K USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $48.00K USD Point-in-time
Common stock, authorized (in shares) CommonStockSharesAuthorized 120.00M shares Point-in-time
Common stock, authorized (in shares) CommonStockSharesAuthorized 120.00M shares Point-in-time
Marketable securities AvailableForSaleSecuritiesCurrent $24.05M USD Point-in-time
Marketable securities AvailableForSaleSecuritiesCurrent $24.64M USD Point-in-time
Common stock, issued (in shares) CommonStockSharesIssued 42.53M shares Point-in-time
Common stock, issued (in shares) CommonStockSharesIssued 42.39M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $86.92M USD Point-in-time
Treasury stock, at cost (in shares) TreasuryStockShares 19,680.00 shares Point-in-time
Treasury stock, at cost (in shares) TreasuryStockShares 19,680.00 shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $63.23M USD Point-in-time
Inventories, net InventoryNet $49.05M USD Point-in-time
Inventories, net InventoryNet $58.91M USD Point-in-time
Costs and estimated earnings in excess of billings CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear $35.33M USD Point-in-time
Costs and estimated earnings in excess of billings CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear $39.35M USD Point-in-time
Current maturities of long-term receivables NotesAndLoansReceivableNetCurrent $4.94M USD Point-in-time
Current maturities of long-term receivables NotesAndLoansReceivableNetCurrent $4.81M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $5.50M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $6.18M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $13.16M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $12.76M USD Point-in-time
Income tax receivables IncomeTaxesReceivable $46.00K USD Point-in-time
Income tax receivables IncomeTaxesReceivable $961.00K USD Point-in-time
Total current assets AssetsCurrent $240.15M USD Point-in-time
Total current assets AssetsCurrent $252.53M USD Point-in-time
Long-term receivables, less current maturities NotesAndLoansReceivableNetNoncurrent $11.32M USD Point-in-time
Long-term receivables, less current maturities NotesAndLoansReceivableNetNoncurrent $10.49M USD Point-in-time
Goodwill Goodwill $4.61M USD Point-in-time
Goodwill Goodwill $3.31M USD Point-in-time
Intangibles, net FiniteLivedIntangibleAssetsNet $1.18M USD Point-in-time
Intangibles, net FiniteLivedIntangibleAssetsNet $2.90M USD Point-in-time
Advertising rights, net and other assets AdvertisingRightsNetAndOther $773.00K USD Point-in-time
Advertising rights, net and other assets AdvertisingRightsNetAndOther $772.00K USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $1.06M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $1.06M USD Point-in-time
Total noncurrent assets NoncurrentAssetsExcludingPropertyPlantAndEquipment $17.64M USD Point-in-time
Total noncurrent assets NoncurrentAssetsExcludingPropertyPlantAndEquipment $19.83M USD Point-in-time
Land Land $2.12M USD Point-in-time
Land Land $1.50M USD Point-in-time
Buildings BuildingsAndImprovementsGross $57.01M USD Point-in-time
Buildings BuildingsAndImprovementsGross $59.20M USD Point-in-time
Machinery and equipment MachineryAndEquipmentGross $65.60M USD Point-in-time
Machinery and equipment MachineryAndEquipmentGross $68.23M USD Point-in-time
Office furniture and equipment FurnitureAndFixturesGross $16.12M USD Point-in-time
Office furniture and equipment FurnitureAndFixturesGross $16.11M USD Point-in-time
Computer software and hardware CapitalizedComputerSoftwareAndEquipmentGross $42.36M USD Point-in-time
Computer software and hardware CapitalizedComputerSoftwareAndEquipmentGross $41.74M USD Point-in-time
Equipment held for rental EquipmentHeldForRental $868.00K USD Point-in-time
Equipment held for rental EquipmentHeldForRental $868.00K USD Point-in-time
Demonstration equipment DemonstrationEquipment $8.36M USD Point-in-time
Demonstration equipment DemonstrationEquipment $8.40M USD Point-in-time
Transportation equipment TransportationEquipment $4.03M USD Point-in-time
Transportation equipment TransportationEquipment $4.20M USD Point-in-time
Property and equipment, gross PropertyPlantAndEquipmentGross $201.44M USD Point-in-time
Property and equipment, gross PropertyPlantAndEquipmentGross $195.27M USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $136.91M USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $133.64M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $61.62M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $64.53M USD Point-in-time
TOTAL ASSETS Assets $336.89M USD Point-in-time
TOTAL ASSETS Assets $319.42M USD Point-in-time
Notes payable, bank ShortTermBankLoansAndNotesPayable - USD Point-in-time
Notes payable, bank ShortTermBankLoansAndNotesPayable $264.00K USD Point-in-time
Accounts payable AccountsPayableCurrent $38.65M USD Point-in-time
Accounts payable AccountsPayableCurrent $48.92M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $24.33M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $21.70M USD Point-in-time
Warranty obligations ProductWarrantyAccrualClassifiedCurrent $13.43M USD Point-in-time
Warranty obligations ProductWarrantyAccrualClassifiedCurrent $13.93M USD Point-in-time
Billings in excess of costs and estimated earnings BillingsInExcessOfCostCurrent $13.82M USD Point-in-time
Billings in excess of costs and estimated earnings BillingsInExcessOfCostCurrent $14.24M USD Point-in-time
Customer deposits (billed or collected) CustomerDepositsCurrent $12.38M USD Point-in-time
Customer deposits (billed or collected) CustomerDepositsCurrent $18.87M USD Point-in-time
Deferred revenue (billed or collected) DeferredRevenueCurrent $9.11M USD Point-in-time
Deferred revenue (billed or collected) DeferredRevenueCurrent $7.42M USD Point-in-time
Current portion of other long-term obligations OtherLongTermDebtCurrent $356.00K USD Point-in-time
Current portion of other long-term obligations OtherLongTermDebtCurrent $890.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.42M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.69M USD Point-in-time
Total current liabilities LiabilitiesCurrent $126.73M USD Point-in-time
Total current liabilities LiabilitiesCurrent $114.69M USD Point-in-time
Long-term warranty obligations ProductWarrantyAccrualNoncurrent $11.55M USD Point-in-time
Long-term warranty obligations ProductWarrantyAccrualNoncurrent $11.21M USD Point-in-time
Long-term deferred revenue (billed or collected) DeferredRevenueNoncurrent $4.91M USD Point-in-time
Long-term deferred revenue (billed or collected) DeferredRevenueNoncurrent $4.42M USD Point-in-time
Other long-term obligations, less current maturities OtherLiabilitiesNoncurrent $843.00K USD Point-in-time
Other long-term obligations, less current maturities OtherLiabilitiesNoncurrent $3.04M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $16.48M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $19.50M USD Point-in-time
TOTAL LIABILITIES Liabilities $146.23M USD Point-in-time
TOTAL LIABILITIES Liabilities $131.17M USD Point-in-time
Common stock, no par value, authorized 120,000,000 shares; 42,529,902 and 42,393,456 shares issued at July 27, 2013 and April 27, 2013, respectively CommonStockValue $37.43M USD Point-in-time
Common stock, no par value, authorized 120,000,000 shares; 42,529,902 and 42,393,456 shares issued at July 27, 2013 and April 27, 2013, respectively CommonStockValue $38.49M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $27.19M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $27.92M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $123.75M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $124.37M USD Point-in-time
Treasury stock, at cost, 19,680 shares TreasuryStockValue $9.00K USD Point-in-time
Treasury stock, at cost, 19,680 shares TreasuryStockValue $9.00K USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-118.00K USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-116.00K USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $188.25M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $190.66M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $319.42M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $336.89M USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueNet $132.92M USD 1 Quarter
Net sales SalesRevenueNet $138.72M USD 1 Quarter
Cost of goods sold CostOfRevenue $103.22M USD 1 Quarter
Cost of goods sold CostOfRevenue $96.53M USD 1 Quarter
Gross profit GrossProfit $36.39M USD 1 Quarter
Gross profit GrossProfit $35.50M USD 1 Quarter
Selling expense SellingExpense $13.08M USD 1 Quarter
Selling expense SellingExpense $13.62M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $7.30M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $6.58M USD 1 Quarter
Product design and development ResearchAndDevelopmentExpense $6.02M USD 1 Quarter
Product design and development ResearchAndDevelopmentExpense $5.99M USD 1 Quarter
Total operating expenses OperatingExpenses $25.68M USD 1 Quarter
Total operating expenses OperatingExpenses $26.91M USD 1 Quarter
Operating income OperatingIncomeLoss $8.60M USD 1 Quarter
Operating income OperatingIncomeLoss $10.71M USD 1 Quarter
Interest income InvestmentIncomeNet $343.00K USD 1 Quarter
Interest income InvestmentIncomeNet $431.00K USD 1 Quarter
Interest expense InterestExpense $87.00K USD 1 Quarter
Interest expense InterestExpense $115.00K USD 1 Quarter
Other (expense) income, net OtherNonoperatingIncomeExpense $-392.00K USD 1 Quarter
Other (expense) income, net OtherNonoperatingIncomeExpense $-180.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $10.87M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $8.43M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $4.19M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $2.71M USD 1 Quarter
Net income NetIncomeLoss $6.68M USD 1 Quarter
Net income NetIncomeLoss $5.72M USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 42.07M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 42.53M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 42.14M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 42.77M shares 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.16 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.13 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.13 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.16 USD 1 Quarter
Cash dividend declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.12 USD 1 Quarter
Cash dividend declared per share (in dollars per share) CommonStockDividendsPerShareDeclared $0.12 USD 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $6.68M USD 1 Quarter
Net income NetIncomeLoss $5.72M USD 1 Quarter
Depreciation Depreciation $3.82M USD 1 Quarter
Depreciation Depreciation $3.76M USD 1 Quarter
Amortization AdjustmentForAmortization $65.00K USD 1 Quarter
Amortization AdjustmentForAmortization $57.00K USD 1 Quarter
Amortization of premium/discount on marketable securities AccretionAmortizationOfDiscountsAndPremiumsInvestments $-48.00K USD 1 Quarter
Amortization of premium/discount on marketable securities AccretionAmortizationOfDiscountsAndPremiumsInvestments $-59.00K USD 1 Quarter
(Gain) loss on sale of property and equipment GainLossOnSaleOfPropertyPlantEquipment $31.00K USD 1 Quarter
(Gain) loss on sale of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-3.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $722.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $762.00K USD 1 Quarter
Excess tax benefits from share-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $3.00K USD 1 Quarter
Excess tax benefits from share-based compensation ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $2.00K USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $417.00K USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $-281.00K USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $19.00K USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $-400.00K USD 1 Quarter
Change in operating assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $14.92M USD 1 Quarter
Change in operating assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-5.41M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-4.62M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $16.51M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $4.04M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.44M USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $68.00K USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $92.00K USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $1.19M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $3.86M USD 1 Quarter
Proceeds from sales or maturities of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $500.00K USD 1 Quarter
Proceeds from sales or maturities of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $4.00M USD 1 Quarter
Acquisition, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisition, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $1.30M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.21M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-5.96M USD 1 Quarter
Payments on notes payable RepaymentsOfNotesPayable - USD 1 Quarter
Payments on notes payable RepaymentsOfNotesPayable $982.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $58.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $293.00K USD 1 Quarter
Excess tax benefits from share-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $3.00K USD 1 Quarter
Excess tax benefits from share-based compensation ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $2.00K USD 1 Quarter
Principal payments on long-term obligations RepaymentsOfLongTermDebt - USD 1 Quarter
Principal payments on long-term obligations RepaymentsOfLongTermDebt $3.37M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $4.83M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $5.10M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-8.18M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-5.75M USD 1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH EffectOfExchangeRateOnCashAndCashEquivalents $-128.00K USD 1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH EffectOfExchangeRateOnCashAndCashEquivalents $246.00K USD 1 Quarter
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS CashAndCashEquivalentsPeriodIncreaseDecrease $9.42M USD 1 Quarter
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS CashAndCashEquivalentsPeriodIncreaseDecrease $-18.51M USD 1 Quarter
Beginning of period CashAndCashEquivalentsAtCarryingValue $38.84M USD Point-in-time
Beginning of period CashAndCashEquivalentsAtCarryingValue $29.42M USD Point-in-time
Beginning of period CashAndCashEquivalentsAtCarryingValue $40.63M USD Point-in-time
Beginning of period CashAndCashEquivalentsAtCarryingValue $22.12M USD Point-in-time
End of period CashAndCashEquivalentsAtCarryingValue $38.84M USD Point-in-time
End of period CashAndCashEquivalentsAtCarryingValue $29.42M USD Point-in-time
End of period CashAndCashEquivalentsAtCarryingValue $40.63M USD Point-in-time
End of period CashAndCashEquivalentsAtCarryingValue $22.12M USD Point-in-time
Interest InterestPaid $36.00K USD 1 Quarter
Interest InterestPaid $18.00K USD 1 Quarter
Income taxes, net IncomeTaxesPaidNet $4.36M USD 1 Quarter
Income taxes, net IncomeTaxesPaidNet $-85.00K USD 1 Quarter
Demonstration equipment transferred to inventory DemonstrationEquipmentTransferredToInventory $63.00K USD 1 Quarter
Demonstration equipment transferred to inventory DemonstrationEquipmentTransferredToInventory $156.00K USD 1 Quarter
Purchases of property and equipment included in accounts payable CapitalExpendituresIncurredButNotYetPaid $519.00K USD 1 Quarter
Purchases of property and equipment included in accounts payable CapitalExpendituresIncurredButNotYetPaid $1.08M USD 1 Quarter
Contributions of common stock under the employee stock purchase plan StockIssued1 $732.00K USD 1 Quarter
Contributions of common stock under the employee stock purchase plan StockIssued1 $766.00K USD 1 Quarter
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $6.68M USD 1 Quarter
Net income NetIncomeLoss $5.72M USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $32.00K USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-227.00K USD 1 Quarter
Unrealized loss on available-for-sale securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-30.00K USD 1 Quarter
Unrealized loss on available-for-sale securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-26.00K USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-253.00K USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $2.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $6.42M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $5.72M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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