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10-Q Filing

DAKTRONICS INC /SD/ CIK: 915779 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0000915779-20-000052
Period End Date 20200731
Filing Date 20200828
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance dakt20200801q110-q_htm.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 45.91M shares Point-in-time
Common stock, issued (in shares) CommonStockSharesIssued 45.91M shares Point-in-time
Treasury stock, at cost (in shares) TreasuryStockShares 1.34M shares Point-in-time
Treasury stock, at cost (in shares) TreasuryStockShares 1.34M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $20.76M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $44.61M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $40.40M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $14.00K USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $96.00K USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $339.00K USD Point-in-time
Marketable securities AvailableForSaleSecuritiesCurrent $1.23M USD Point-in-time
Marketable securities AvailableForSaleSecuritiesCurrent $1.23M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $72.58M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $88.61M USD Point-in-time
Inventories InventoryNet $86.80M USD Point-in-time
Inventories InventoryNet $81.44M USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $35.47M USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $33.26M USD Point-in-time
Current maturities of long-term receivables NotesAndLoansReceivableNetCurrent $3.52M USD Point-in-time
Current maturities of long-term receivables NotesAndLoansReceivableNetCurrent $3.31M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $9.63M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $7.59M USD Point-in-time
Income tax receivables IncomeTaxesReceivable $260.00K USD Point-in-time
Income tax receivables IncomeTaxesReceivable $548.00K USD Point-in-time
Property and equipment and other assets available for sale AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent $1.97M USD Point-in-time
Property and equipment and other assets available for sale AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent $1.82M USD Point-in-time
Total current assets AssetsCurrent $262.37M USD Point-in-time
Total current assets AssetsCurrent $252.00M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $66.06M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $67.48M USD Point-in-time
Long-term receivables, less current maturities NotesAndLoansReceivableNetNoncurrent $739.00K USD Point-in-time
Long-term receivables, less current maturities NotesAndLoansReceivableNetNoncurrent $1.11M USD Point-in-time
Goodwill Goodwill $7.74M USD Point-in-time
Goodwill Goodwill $8.05M USD Point-in-time
Intangibles, net FiniteLivedIntangibleAssetsNet $3.07M USD Point-in-time
Intangibles, net FiniteLivedIntangibleAssetsNet $3.35M USD Point-in-time
Investment in affiliates and other assets InvestmentsAndOtherNoncurrentAssets $27.68M USD Point-in-time
Investment in affiliates and other assets InvestmentsAndOtherNoncurrentAssets $26.53M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $13.27M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $13.31M USD Point-in-time
TOTAL ASSETS Assets $380.12M USD Point-in-time
TOTAL ASSETS Assets $372.65M USD Point-in-time
Accounts payable AccountsPayableCurrent $47.83M USD Point-in-time
Accounts payable AccountsPayableCurrent $48.26M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $50.16M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $50.90M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $33.94M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $36.63M USD Point-in-time
Warranty obligations ProductWarrantyAccrualClassifiedCurrent $9.76M USD Point-in-time
Warranty obligations ProductWarrantyAccrualClassifiedCurrent $10.65M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $844.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.11M USD Point-in-time
Total current liabilities LiabilitiesCurrent $145.97M USD Point-in-time
Total current liabilities LiabilitiesCurrent $144.11M USD Point-in-time
Long-term warranty obligations ProductWarrantyAccrualNoncurrent $15.86M USD Point-in-time
Long-term warranty obligations ProductWarrantyAccrualNoncurrent $16.41M USD Point-in-time
Long-term contract liabilities ContractWithCustomerLiabilityNoncurrent $10.71M USD Point-in-time
Long-term contract liabilities ContractWithCustomerLiabilityNoncurrent $10.71M USD Point-in-time
Other long-term obligations OtherLiabilitiesNoncurrent $21.47M USD Point-in-time
Other long-term obligations OtherLiabilitiesNoncurrent $22.11M USD Point-in-time
Long-term income taxes payable LiabilityForUncertainTaxPositionsNoncurrent $582.00K USD Point-in-time
Long-term income taxes payable LiabilityForUncertainTaxPositionsNoncurrent $723.00K USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $452.00K USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $469.00K USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $49.79M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $49.71M USD Point-in-time
Common Stock, no par value, authorized 115,000,000 shares; 45,913,210 and 45,913,209 shares issued at August 1, 2020 and May 2, 2020, respectively CommonStockValue $60.01M USD Point-in-time
Common Stock, no par value, authorized 115,000,000 shares; 45,913,210 and 45,913,209 shares issued at August 1, 2020 and May 2, 2020, respectively CommonStockValue $60.01M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $44.63M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $45.19M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $85.09M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $92.56M USD Point-in-time
Treasury Stock, at cost, 1,343,281 and 1,343,281 shares at August 1, 2020 and May 2, 2020, respectively TreasuryStockValue $7.47M USD Point-in-time
Treasury Stock, at cost, 1,343,281 and 1,343,281 shares at August 1, 2020 and May 2, 2020, respectively TreasuryStockValue $7.30M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-5.28M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-4.24M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $186.22M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $176.98M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $192.19M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $187.66M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $380.12M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $372.65M 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 $143.64M USD 1 Quarter
Cost of sales CostOfRevenue $134.75M USD 1 Quarter
Cost of sales CostOfRevenue $107.88M USD 1 Quarter
Gross profit GrossProfit $45.51M USD 1 Quarter
Gross profit GrossProfit $35.76M USD 1 Quarter
Selling SellingExpense $11.56M USD 1 Quarter
Selling SellingExpense $18.30M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $9.09M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $7.12M USD 1 Quarter
Product design and development ResearchAndDevelopmentExpense $10.50M USD 1 Quarter
Product design and development ResearchAndDevelopmentExpense $7.53M USD 1 Quarter
Total operating expenses OperatingExpenses $26.21M USD 1 Quarter
Total operating expenses OperatingExpenses $37.89M USD 1 Quarter
Operating income OperatingIncomeLoss $9.55M USD 1 Quarter
Operating income OperatingIncomeLoss $7.62M USD 1 Quarter
Interest income InvestmentIncomeNet $269.00K USD 1 Quarter
Interest income InvestmentIncomeNet $85.00K USD 1 Quarter
Interest expense InterestExpense $35.00K USD 1 Quarter
Interest expense InterestExpense $73.00K USD 1 Quarter
Other (expense) income, net OtherNonoperatingIncomeExpense $-627.00K USD 1 Quarter
Other (expense) income, net OtherNonoperatingIncomeExpense $193.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $8.93M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $8.04M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $1.47M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $1.01M USD 1 Quarter
Net income NetIncomeLoss $7.47M USD 1 Quarter
Net income NetIncomeLoss $7.03M USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 45.09M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 44.65M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 44.75M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 45.26M shares 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.16 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.17 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.17 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.16 USD 1 Quarter
Cash Flow Statement 56 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $7.47M USD 1 Quarter
Net income NetIncomeLoss $7.03M USD 1 Quarter
Depreciation and amortization DepreciationAmortizationAndAccretionNet $4.38M USD 1 Quarter
Depreciation and amortization DepreciationAmortizationAndAccretionNet $4.34M 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 $53.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $539.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $643.00K USD 1 Quarter
Equity in loss of affiliates IncomeLossFromEquityMethodInvestments $-118.00K USD 1 Quarter
Equity in loss of affiliates IncomeLossFromEquityMethodInvestments $-529.00K USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $1.00K USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $5.00K USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $-4.00K USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $-40.00K USD 1 Quarter
Change in operating assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $4.27M USD 1 Quarter
Change in operating assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $30.33M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $8.54M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-18.22M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.15M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $5.86M USD 1 Quarter
Proceeds from sales of property, equipment and other assets ProceedsFromSaleOfPropertyPlantAndEquipment $86.00K USD 1 Quarter
Proceeds from sales of property, equipment and other assets ProceedsFromSaleOfPropertyPlantAndEquipment $73.00K USD 1 Quarter
Proceeds from sales or maturities of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities - USD 1 Quarter
Proceeds from sales or maturities of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $14.51M USD 1 Quarter
Purchases of and loans to equity investment PaymentsToAcquireEquityMethodInvestments $455.00K USD 1 Quarter
Purchases of and loans to equity investment PaymentsToAcquireEquityMethodInvestments $492.00K USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $8.27M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-3.56M USD 1 Quarter
Principal payments on long-term obligations RepaymentsOfLongTermDebt $1.22M USD 1 Quarter
Principal payments on long-term obligations RepaymentsOfLongTermDebt $210.00K USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock - USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $2.25M 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 $-210.00K USD 1 Quarter
EFFECT OF EXCHANGE RATE CHANGES EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-481.00K USD 1 Quarter
EFFECT OF EXCHANGE RATE CHANGES EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-37.00K USD 1 Quarter
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-14.64M USD 1 Quarter
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $4.29M USD 1 Quarter
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $21.10M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $35.74M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $40.41M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $44.70M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $21.10M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $35.74M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $40.41M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $44.70M USD Point-in-time
Interest InterestPaid $43.00K USD 1 Quarter
Interest InterestPaid $33.00K USD 1 Quarter
Income taxes, net of refunds IncomeTaxesPaidNet $786.00K USD 1 Quarter
Income taxes, net of refunds IncomeTaxesPaidNet $491.00K USD 1 Quarter
Purchases of property and equipment included in accounts payable CapitalExpendituresIncurredButNotYetPaid $969.00K 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 - USD 1 Quarter
Contributions of common stock under the ESPP StockIssued1 $779.00K USD 1 Quarter
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Cash dividends declared per share CommonStockDividendsPerShareDeclared - USD 1 Quarter
Cash dividends declared per share CommonStockDividendsPerShareDeclared $0.05 USD 1 Quarter
Balance at Beginning of Period StockholdersEquity $186.22M USD Point-in-time
Balance at Beginning of Period StockholdersEquity $176.98M USD Point-in-time
Balance at Beginning of Period StockholdersEquity $192.19M USD Point-in-time
Balance at Beginning of Period StockholdersEquity $187.66M USD Point-in-time
Net income NetIncomeLoss $7.47M USD 1 Quarter
Net income NetIncomeLoss $7.03M USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.04M USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-526.00K USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax - USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $41.00K USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $643.00K USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $539.00K USD 1 Quarter
Treasury stock reissued StockIssuedDuringPeriodValueTreasuryStockReissued $199.00K USD 1 Quarter
Employee savings plan activity StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $779.00K USD 1 Quarter
Dividends paid DividendsCommonStockCash $2.25M USD 1 Quarter
Treasury stock purchase TreasuryStockValueAcquiredCostMethod $1.19M USD 1 Quarter
Balance at End of Period StockholdersEquity $186.22M USD Point-in-time
Balance at End of Period StockholdersEquity $176.98M USD Point-in-time
Balance at End of Period StockholdersEquity $192.19M USD Point-in-time
Balance at End of Period StockholdersEquity $187.66M USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $7.47M USD 1 Quarter
Net income NetIncomeLoss $7.03M USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.04M USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-526.00K USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax - USD 1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $41.00K USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-485.00K USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $1.04M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $6.54M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $8.50M USD 1 Quarter

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

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