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10-Q Filing

DAKTRONICS INC /SD/ CIK: 915779 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001437749-21-021317
Period End Date 20210731
Filing Date 20210901
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance dakt20210731_10q_htm.xml
Balance Sheet 82 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
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $44.61M USD Point-in-time
Common stock, share authorized (in shares) CommonStockSharesAuthorized 115.00M shares Point-in-time
Common stock, share authorized (in shares) CommonStockSharesAuthorized 115.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $74.66M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $77.59M USD Point-in-time
Common stock, share issued (in shares) CommonStockSharesIssued 46.26M shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $2.54M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $2.81M USD Point-in-time
Common stock, share issued (in shares) CommonStockSharesIssued 46.44M shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $96.00K USD Point-in-time
Treasury stock, shares (in shares) TreasuryStockShares 1.30M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $67.81M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $78.50M USD Point-in-time
Treasury stock, shares (in shares) TreasuryStockShares 1.27M shares Point-in-time
Inventories InventoryNet $84.51M USD Point-in-time
Inventories InventoryNet $74.36M USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $32.80M USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $38.13M USD Point-in-time
Current maturities of long-term receivables NotesAndLoansReceivableNetCurrent $1.46M USD Point-in-time
Current maturities of long-term receivables NotesAndLoansReceivableNetCurrent $1.76M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $9.82M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $7.45M USD Point-in-time
Income tax receivables IncomeTaxesReceivable $731.00K USD Point-in-time
Income tax receivables IncomeTaxesReceivable $635.00K USD Point-in-time
Total current assets AssetsCurrent $265.00M USD Point-in-time
Total current assets AssetsCurrent $290.56M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $58.68M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $56.21M USD Point-in-time
Long-term receivables, less current maturities NotesAndLoansReceivableNetNoncurrent $1.64M USD Point-in-time
Long-term receivables, less current maturities NotesAndLoansReceivableNetNoncurrent $1.39M USD Point-in-time
Goodwill Goodwill $8.41M USD Point-in-time
Goodwill Goodwill $8.31M USD Point-in-time
Intangibles, net FiniteLivedIntangibleAssetsNet $2.08M USD Point-in-time
Intangibles, net FiniteLivedIntangibleAssetsNet $1.78M USD Point-in-time
Investment in affiliates and other assets InvestmentsAndOtherNoncurrentAssets $26.27M USD Point-in-time
Investment in affiliates and other assets InvestmentsAndOtherNoncurrentAssets $27.40M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $11.94M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $11.94M USD Point-in-time
TOTAL ASSETS Assets $375.16M USD Point-in-time
TOTAL ASSETS Assets $396.46M USD Point-in-time
Accounts payable AccountsPayableCurrent $57.77M USD Point-in-time
Accounts payable AccountsPayableCurrent $40.25M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $67.51M USD Point-in-time
Contract liabilities ContractWithCustomerLiabilityCurrent $64.50M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $30.67M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $27.65M USD Point-in-time
Warranty obligations ProductWarrantyAccrualClassifiedCurrent $10.46M USD Point-in-time
Warranty obligations ProductWarrantyAccrualClassifiedCurrent $9.99M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $496.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $738.00K USD Point-in-time
Total current liabilities LiabilitiesCurrent $163.41M USD Point-in-time
Total current liabilities LiabilitiesCurrent $146.62M USD Point-in-time
Long-term warranty obligations ProductWarrantyAccrualNoncurrent $15.50M USD Point-in-time
Long-term warranty obligations ProductWarrantyAccrualNoncurrent $15.39M USD Point-in-time
Long-term contract liabilities ContractWithCustomerLiabilityNoncurrent $10.72M USD Point-in-time
Long-term contract liabilities ContractWithCustomerLiabilityNoncurrent $10.59M USD Point-in-time
Other long-term obligations OtherLiabilitiesNoncurrent $7.85M USD Point-in-time
Other long-term obligations OtherLiabilitiesNoncurrent $7.82M USD Point-in-time
Long-term income taxes payable AccruedIncomeTaxesNoncurrent $654.00K USD Point-in-time
Long-term income taxes payable AccruedIncomeTaxesNoncurrent $548.00K USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $378.00K USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $410.00K USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $34.86M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $34.99M USD Point-in-time
Common Stock, no par value, authorized 115,000,000 shares; 46,444,603 and 46,264,576 shares issued at July 31, 2021 and May 1, 2021, respectively CommonStockValue $61.17M USD Point-in-time
Common Stock, no par value, authorized 115,000,000 shares; 46,444,603 and 46,264,576 shares issued at July 31, 2021 and May 1, 2021, respectively CommonStockValue $60.58M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $47.12M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $46.59M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $99.70M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $96.02M USD Point-in-time
Treasury Stock, at cost, 1,266,401 and 1,297,409 shares at July 31, 2021 and May 1, 2021, respectively TreasuryStockValue $7.30M USD Point-in-time
Treasury Stock, at cost, 1,266,401 and 1,297,409 shares at July 31, 2021 and May 1, 2021, respectively TreasuryStockValue $7.10M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.71M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.33M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $193.55M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $186.22M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $198.18M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $176.98M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $375.16M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $396.46M USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $143.64M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $144.73M USD 1 Quarter
Cost of sales CostOfRevenue $107.88M USD 1 Quarter
Cost of sales CostOfRevenue $112.54M USD 1 Quarter
Gross profit GrossProfit $35.76M USD 1 Quarter
Gross profit GrossProfit $32.19M USD 1 Quarter
Selling SellingExpense $11.79M USD 1 Quarter
Selling SellingExpense $11.56M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $7.12M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $7.57M USD 1 Quarter
Product design and development ResearchAndDevelopmentExpense $7.53M USD 1 Quarter
Product design and development ResearchAndDevelopmentExpense $7.16M USD 1 Quarter
Operating Expenses, Total OperatingExpenses $26.53M USD 1 Quarter
Operating Expenses, Total OperatingExpenses $26.21M USD 1 Quarter
Operating income OperatingIncomeLoss $5.66M USD 1 Quarter
Operating income OperatingIncomeLoss $9.55M USD 1 Quarter
Interest income InvestmentIncomeNet $85.00K USD 1 Quarter
Interest income InvestmentIncomeNet $153.00K USD 1 Quarter
Interest expense InterestExpenseReversalOfExpense $16.00K USD 1 Quarter
Interest expense InterestExpenseReversalOfExpense $73.00K USD 1 Quarter
Other (expense) income, net OtherNonoperatingIncomeExpense $-868.00K USD 1 Quarter
Other (expense) income, net OtherNonoperatingIncomeExpense $-627.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $8.93M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.93M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $1.47M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $1.24M USD 1 Quarter
Net income NetIncomeLoss $7.47M USD 1 Quarter
Net income NetIncomeLoss $3.69M USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 45.14M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 44.65M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 45.42M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 44.75M shares 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.17 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.08 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.17 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.08 USD 1 Quarter
Cash Flow Statement 52 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $7.47M USD 1 Quarter
Net income NetIncomeLoss $3.69M USD 1 Quarter
Depreciation and amortization DepreciationAmortizationAndAccretionNet $4.05M USD 1 Quarter
Depreciation and amortization DepreciationAmortizationAndAccretionNet $4.34M USD 1 Quarter
Gain on sale of property, equipment and other assets GainLossOnSaleOfPropertyPlantEquipment $53.00K USD 1 Quarter
Gain on sale of property, equipment and other assets GainLossOnSaleOfPropertyPlantEquipment $106.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $539.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $518.00K USD 1 Quarter
Equity in loss of affiliates IncomeLossFromEquityMethodInvestments $-529.00K USD 1 Quarter
Equity in loss of affiliates IncomeLossFromEquityMethodInvestments $-746.00K USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $-421.00K USD 1 Quarter
Provision for doubtful accounts ProvisionForDoubtfulAccounts $1.00K USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $-32.00K USD 1 Quarter
Deferred income taxes, net DeferredIncomeTaxExpenseBenefit $-4.00K USD 1 Quarter
Change in operating assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $4.27M USD 1 Quarter
Change in operating assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $9.46M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-1.02M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $8.54M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.28M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.15M USD 1 Quarter
Proceeds from sales of property, equipment and other assets ProceedsFromSaleOfPropertyPlantAndEquipment $149.00K USD 1 Quarter
Proceeds from sales of property, equipment and other assets ProceedsFromSaleOfPropertyPlantAndEquipment $86.00K USD 1 Quarter
Purchases of and loans to equity investment PaymentsToAcquireEquityMethodInvestments $718.00K USD 1 Quarter
Purchases of and loans to equity investment PaymentsToAcquireEquityMethodInvestments $492.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-3.56M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.85M USD 1 Quarter
Principal payments on long-term obligations RepaymentsOfLongTermDebt $200.00K USD 1 Quarter
Principal payments on long-term obligations RepaymentsOfLongTermDebt $210.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-200.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-210.00K USD 1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-132.00K USD 1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-481.00K USD 1 Quarter
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $4.29M USD 1 Quarter
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-3.20M USD 1 Quarter
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $77.20M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $80.40M 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 $77.20M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $80.40M 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 InterestPaidNet - USD 1 Quarter
Interest InterestPaidNet $43.00K USD 1 Quarter
Income taxes, net of refunds IncomeTaxesPaidNet $980.00K USD 1 Quarter
Income taxes, net of refunds IncomeTaxesPaidNet $786.00K USD 1 Quarter
Demonstration equipment transferred to inventory DemonstrationEquipmentTransferredToInventory - USD 1 Quarter
Demonstration equipment transferred to inventory DemonstrationEquipmentTransferredToInventory $46.00K 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 $868.00K USD 1 Quarter
Contributions of common stock under the ESPP StockIssued1 $597.00K USD 1 Quarter
Contributions of common stock under the ESPP StockIssued1 - USD 1 Quarter
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $193.55M USD Point-in-time
Balance StockholdersEquity $186.22M USD Point-in-time
Balance StockholdersEquity $198.18M USD Point-in-time
Balance StockholdersEquity $176.98M USD Point-in-time
Net income (loss) NetIncomeLoss $7.47M USD 1 Quarter
Net income (loss) NetIncomeLoss $3.69M USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-373.00K USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.04M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $518.00K USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $539.00K USD 1 Quarter
Employee savings plan activity StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $597.00K USD 1 Quarter
Treasury stock reissued StockIssuedDuringPeriodValueTreasuryStockReissued $200.00K USD 1 Quarter
Treasury stock reissued StockIssuedDuringPeriodValueTreasuryStockReissued $199.00K USD 1 Quarter
Balance StockholdersEquity $193.55M USD Point-in-time
Balance StockholdersEquity $186.22M USD Point-in-time
Balance StockholdersEquity $198.18M USD Point-in-time
Balance StockholdersEquity $176.98M USD Point-in-time
Comprehensive Income 8 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $7.47M USD 1 Quarter
Net income (loss) NetIncomeLoss $3.69M USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-373.00K USD 1 Quarter
Cumulative translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.04M USD 1 Quarter
Total other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-373.00K USD 1 Quarter
Total other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $1.04M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $3.31M 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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