Daktronics, Inc. (NASDAQ:DAKT) Q2 2024 Earnings Conference Call December 5, 2023 11:00 AM ET

Company Participants

Sheila Anderson - Chief Financial Officer

Reece Kurtenbach - President and Chief Executive Officer

Conference Call Participants

BJ Cook - Singular Research

Operator

Good day, ladies and gentlemen, and welcome to the Daktronics Fiscal Year 2024 Second Quarter Earnings Results Conference Call. As a reminder, this conference is being recorded today, Tuesday, December 5, 2023, and is available on the company's website at www.daktronics.com. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Ms. Sheila Anderson, Chief Financial Officer for Daktronics, for some introductory remarks. Please go ahead, Sheila.

Sheila Anderson

Thank you, Gigi. Good morning, everyone. Thank you for participating in our second quarter earnings conference call. I would like to review our disclosure cautioning investors and participants that in addition to statements of historical facts, we will be discussing forward-looking statements reflecting our expectations and plans about our future financial performance and future business opportunities. These forward-looking statements reflect the company's expectations or beliefs concerning future events.

All forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from our expectations. Such risks include, but are not limited to, changes in economic and market conditions, management of growth, timing and magnitude of future contracts and orders, fluctuations in margins, the introductions of new products and technologies, availability of raw materials, components and shipping services and other important factors.

These identified factors could cause actual results to differ materially from those discussed in this call in the company's 2024 quarterly earnings release and its most recent annual report on Form 10-K. Our second quarter 2024 earnings release contain certain non-GAAP financial measures that was furnished to the Securities and Exchange Commission on a Form 8-K this morning. These documents are available on the Investors section at Daktronics website at www.daktronics.com.

I'll turn the call over now to our CEO, Reece Kurtenbach.

Reece Kurtenbach

Good morning. Thank you, Sheila. Thanks, everybody out there for joining us today. We have had a record start to fiscal year 2024 in both sales and operating income and had robust operating cash generation for the quarter. All of this is the result of strong execution in our strategic strategies across all our business areas. We continue to benefit from our past decisive and deliberate actions to improve our customers' experience while increasing our profitability and working capital levels. Our performance is also a testimony to the resiliency and strength of our teams within Daktronics as well as our strategy of diversified markets and innovation across technology platforms.