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10-Q Filing

DAKTRONICS INC /SD/ CIK: 915779 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0000915779-19-000051
Period End Date 20190731
Filing Date 20190830
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance dakt-20190803.xml
Balance Sheet 86 line items
Line Item Tag Value Unit Period
Common stock, no par value (in dollars per share) CommonStockNoParValue - USD Point-in-time
Common stock, no par value (in dollars per share) CommonStockNoParValue - USD Point-in-time
Common stock, authorized (in shares) CommonStockSharesAuthorized 115.00M shares Point-in-time
Common stock, authorized (in shares) CommonStockSharesAuthorized 115.00M shares Point-in-time
Common stock, issued (in shares) CommonStockSharesIssued 45.44M shares Point-in-time
Common stock, issued (in shares) CommonStockSharesIssued 45.32M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $35.38M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $15.91M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $20.76M USD Point-in-time
Treasury stock, at cost (in shares) TreasuryStockShares 303,957.00 shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $359.00K USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $339.00K USD Point-in-time
Treasury stock, at cost (in shares) TreasuryStockShares 490,617.00 shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $26.00K USD Point-in-time
Marketable securities AvailableForSaleSecuritiesCurrent $26.34M USD Point-in-time
Marketable securities AvailableForSaleSecuritiesCurrent $11.88M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $96.22M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $65.49M USD Point-in-time
Inventories InventoryNet $78.83M USD Point-in-time
Inventories InventoryNet $85.46M USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $33.70M USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $42.81M USD Point-in-time
Current maturities of long-term receivables NotesAndLoansReceivableNetCurrent $2.30M USD Point-in-time
Current maturities of long-term receivables NotesAndLoansReceivableNetCurrent $4.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $8.32M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $9.56M USD Point-in-time
Income tax receivables IncomeTaxesReceivable $1.09M USD Point-in-time
Income tax receivables IncomeTaxesReceivable $1.04M USD Point-in-time
Property and equipment and other assets available for sale AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent $1.84M USD Point-in-time
Property and equipment and other assets available for sale AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent $1.86M USD Point-in-time
Total current assets AssetsCurrent $253.67M USD Point-in-time
Total current assets AssetsCurrent $273.90M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $66.71M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $65.31M USD Point-in-time
Long-term receivables, less current maturities NotesAndLoansReceivableNetNoncurrent $2.16M USD Point-in-time
Long-term receivables, less current maturities NotesAndLoansReceivableNetNoncurrent $1.21M USD Point-in-time
Goodwill Goodwill $7.94M USD Point-in-time
Goodwill Goodwill $7.89M USD Point-in-time
Intangibles, net FiniteLivedIntangibleAssetsNet $4.57M USD Point-in-time
Intangibles, net FiniteLivedIntangibleAssetsNet $4.91M USD Point-in-time
Investment in affiliates and other assets InvestmentsAndOtherNoncurrentAssets $5.05M USD Point-in-time
Investment in affiliates and other assets InvestmentsAndOtherNoncurrentAssets $15.36M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $11.17M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $11.19M USD Point-in-time
TOTAL ASSETS Assets $349.22M USD Point-in-time
TOTAL ASSETS Assets $381.83M USD Point-in-time
Accounts payable AccountsPayableCurrent $44.87M USD Point-in-time
Accounts payable AccountsPayableCurrent $57.00M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $53.42M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $47.18M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $32.85M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $32.06M USD Point-in-time
Warranty obligations ProductWarrantyAccrualClassifiedCurrent $9.49M USD Point-in-time
Warranty obligations ProductWarrantyAccrualClassifiedCurrent $9.65M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $468.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $771.00K USD Point-in-time
Total current liabilities LiabilitiesCurrent $134.07M USD Point-in-time
Total current liabilities LiabilitiesCurrent $153.69M USD Point-in-time
Long-term warranty obligations ProductWarrantyAccrualNoncurrent $15.80M USD Point-in-time
Long-term warranty obligations ProductWarrantyAccrualNoncurrent $14.98M USD Point-in-time
Long-term contract liabilities ContractWithCustomerLiabilityNoncurrent $10.05M USD Point-in-time
Long-term contract liabilities ContractWithCustomerLiabilityNoncurrent $10.14M USD Point-in-time
Other long-term obligations OtherLiabilitiesNoncurrent $8.73M USD Point-in-time
Other long-term obligations OtherLiabilitiesNoncurrent $1.34M USD Point-in-time
Long-term income taxes payable LiabilityForUncertainTaxPositionsNoncurrent $727.00K USD Point-in-time
Long-term income taxes payable LiabilityForUncertainTaxPositionsNoncurrent $578.00K USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $544.00K USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $533.00K USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $35.94M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $27.48M USD Point-in-time
Common Stock, no par value, authorized 115,000,000 shares; 45,442,607 and 45,317,267 shares issued at August 3, 2019 and April 27, 2019, respectively CommonStockValue $57.70M USD Point-in-time
Common Stock, no par value, authorized 115,000,000 shares; 45,442,607 and 45,317,267 shares issued at August 3, 2019 and April 27, 2019, respectively CommonStockValue $58.48M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $42.56M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $43.20M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $98.37M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $93.59M USD Point-in-time
Treasury Stock, at cost, 490,617 and 303,957 shares at August 3, 2019 and April 27, 2019, respectively TreasuryStockValue $3.02M USD Point-in-time
Treasury Stock, at cost, 490,617 and 303,957 shares at August 3, 2019 and April 27, 2019, respectively TreasuryStockValue $1.83M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-4.36M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-4.84M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $197.62M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $187.66M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $192.19M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $199.44M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $349.22M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $381.83M USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net sales Revenues $180.26M USD 1 Quarter
Net sales Revenues $154.19M USD 1 Quarter
Cost of sales CostOfRevenue $115.94M USD 1 Quarter
Cost of sales CostOfRevenue $134.75M USD 1 Quarter
Gross profit GrossProfit $38.25M USD 1 Quarter
Gross profit GrossProfit $45.51M USD 1 Quarter
Selling SellingExpense $18.30M USD 1 Quarter
Selling SellingExpense $16.38M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $8.54M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $9.09M USD 1 Quarter
Product design and development ResearchAndDevelopmentExpense $10.50M USD 1 Quarter
Product design and development ResearchAndDevelopmentExpense $9.29M USD 1 Quarter
Total operating expenses OperatingExpenses $34.21M USD 1 Quarter
Total operating expenses OperatingExpenses $37.89M USD 1 Quarter
Operating income OperatingIncomeLoss $7.62M USD 1 Quarter
Operating income OperatingIncomeLoss $4.04M USD 1 Quarter
Interest income InvestmentIncomeNet $269.00K USD 1 Quarter
Interest income InvestmentIncomeNet $197.00K USD 1 Quarter
Interest expense InterestExpense $35.00K USD 1 Quarter
Interest expense InterestExpense $39.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $193.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-154.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $8.04M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.04M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $1.01M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $-530.00K USD 1 Quarter
Net income NetIncomeLoss $4.57M USD 1 Quarter
Net income NetIncomeLoss $7.03M USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 44.64M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 45.09M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 45.26M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 44.83M shares 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.10 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.16 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.10 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.16 USD 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $4.57M USD 1 Quarter
Net income NetIncomeLoss $7.03M USD 1 Quarter
Depreciation and amortization DepreciationAmortizationAndAccretionNet $4.38M USD 1 Quarter
Depreciation and amortization DepreciationAmortizationAndAccretionNet $4.49M USD 1 Quarter
Loss on sale of property, equipment and other assets GainLossOnSaleOfPropertyPlantEquipment $26.00K USD 1 Quarter
Loss on sale of property, equipment and other assets GainLossOnSaleOfPropertyPlantEquipment $69.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $643.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $651.00K USD 1 Quarter
Equity in loss of affiliate IncomeLossFromEquityMethodInvestments $-134.00K USD 1 Quarter
Equity in loss of affiliate IncomeLossFromEquityMethodInvestments $-118.00K USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $5.00K USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $-29.00K USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $-65.00K USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $-40.00K USD 1 Quarter
Change in operating assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $19.94M USD 1 Quarter
Change in operating assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $30.33M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-10.26M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-18.22M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $5.86M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $4.73M USD 1 Quarter
Proceeds from sales of property, equipment and other assets ProceedsFromSaleOfPropertyPlantAndEquipment $106.00K USD 1 Quarter
Proceeds from sales of property, equipment and other assets ProceedsFromSaleOfPropertyPlantAndEquipment $73.00K USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities - USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $1.99M USD 1 Quarter
Proceeds from sales or maturities of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $14.51M USD 1 Quarter
Proceeds from sales or maturities of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $9.18M USD 1 Quarter
Purchases of and loans to equity investment PaymentsToAcquireEquityMethodInvestments $455.00K USD 1 Quarter
Purchases of and loans to equity investment PaymentsToAcquireEquityMethodInvestments $426.00K USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $2.25M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-102.00K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $8.27M USD 1 Quarter
Principal payments on long-term obligations RepaymentsOfLongTermDebt $1.22M USD 1 Quarter
Principal payments on long-term obligations RepaymentsOfLongTermDebt $458.00K USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $3.12M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $2.25M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised - USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $57.00K USD 1 Quarter
Payments for common shares repurchased PaymentsForRepurchaseOfCommonStock $1.19M USD 1 Quarter
Payments for common shares repurchased PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-4.66M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-3.52M USD 1 Quarter
EFFECT OF EXCHANGE RATE CHANGES EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $70.00K USD 1 Quarter
EFFECT OF EXCHANGE RATE CHANGES EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-37.00K USD 1 Quarter
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-14.64M USD 1 Quarter
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-13.81M USD 1 Quarter
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $35.74M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $21.10M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $29.75M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $15.94M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $35.74M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $21.10M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $29.75M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $15.94M USD Point-in-time
Interest InterestPaid $59.00K USD 1 Quarter
Interest InterestPaid $33.00K USD 1 Quarter
Income taxes, net of refunds IncomeTaxesPaidNet $491.00K USD 1 Quarter
Income taxes, net of refunds IncomeTaxesPaidNet $614.00K USD 1 Quarter
Demonstration equipment transferred to inventory DemonstrationEquipmentTransferredToInventory - USD 1 Quarter
Demonstration equipment transferred to inventory DemonstrationEquipmentTransferredToInventory $58.00K USD 1 Quarter
Purchases of property and equipment included in accounts payable CapitalExpendituresIncurredButNotYetPaid $833.00K USD 1 Quarter
Purchases of property and equipment included in accounts payable CapitalExpendituresIncurredButNotYetPaid $786.00K USD 1 Quarter
Contributions of common stock under the ESPP StockIssued1 $820.00K USD 1 Quarter
Contributions of common stock under the ESPP StockIssued1 $779.00K USD 1 Quarter
Contingent consideration related to acquisition SupplementalDeferredPurchasePrice $1.32M USD 1 Quarter
Contingent consideration related to acquisition SupplementalDeferredPurchasePrice - USD 1 Quarter
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Cash dividends declared per share CommonStockDividendsPerShareDeclared $0.05 USD 1 Quarter
Cash dividends declared per share CommonStockDividendsPerShareDeclared $0.07 USD 1 Quarter
Balance at Beginning of Period StockholdersEquity $197.62M USD Point-in-time
Balance at Beginning of Period StockholdersEquity $187.66M USD Point-in-time
Balance at Beginning of Period StockholdersEquity $192.19M USD Point-in-time
Balance at Beginning of Period StockholdersEquity $199.44M USD Point-in-time
Net income NetIncomeLoss $4.57M USD 1 Quarter
Net income NetIncomeLoss $7.03M USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.14M USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-526.00K USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-13.00K USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $41.00K USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $651.00K USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $643.00K USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $57.00K USD 1 Quarter
Employee savings plan activity StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $820.00K USD 1 Quarter
Employee savings plan activity StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $779.00K USD 1 Quarter
Dividends paid DividendsCommonStockCash $2.25M USD 1 Quarter
Dividends paid DividendsCommonStockCash $3.12M USD 1 Quarter
Treasury stock purchase TreasuryStockValueAcquiredCostMethod $1.19M USD 1 Quarter
Balance at End of Period StockholdersEquity $197.62M USD Point-in-time
Balance at End of Period StockholdersEquity $187.66M USD Point-in-time
Balance at End of Period StockholdersEquity $192.19M USD Point-in-time
Balance at End of Period StockholdersEquity $199.44M USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $4.57M USD 1 Quarter
Net income NetIncomeLoss $7.03M USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.14M USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-526.00K USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-13.00K USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $41.00K USD 1 Quarter
Total other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-485.00K USD 1 Quarter
Total other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-1.15M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $3.42M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $6.54M USD 1 Quarter

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

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