Daktronics, Inc. (NASDAQ:DAKT) Q1 2025 Earnings Conference Call September 4, 2024 11:00 AM ET

Company Participants

Carla Gatzke – Corporate Secretary
Reece Kurtenbach – Chief Executive Officer
Sheila Anderson – Chief Financial Officer and Treasurer

Conference Call Participants

Anja Soderstrom – Sidoti
Mac Furst – Singular Research

Operator

Thank you for standing by, and welcome to Daktronics First Quarter Fiscal Year 2025 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ prepared remarks, there will be a question-and-answer session. [Operator Instructions] As a reminder, today’s program is being recorded.

And now, I’d like to introduce your host for today’s program, Carla Gatzke, the Company’s Secretary for Daktronics, for some introductory remarks. Please go ahead.

Carla Gatzke

Thank you, Jonathan. Good morning, everyone. Thank you for participating in our first quarter earnings 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 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 introduction 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 first quarter 2025 quarterly earnings release and its most recent Annual Report on Form 10-K. Our first quarter 2025 earnings release contain certain non-GAAP financial measures and was furnished to the SEC, the Securities and Exchange Commission on a Form 8-K this morning. We also made slides available for today’s call and all of these documents are available on the Investors section at Daktronics website, www.daktronics.com.

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

Reece Kurtenbach

Thanks, Carla. Good morning. Thank you all for joining us today. We’re off to a great start to the year against a record prior year quarter, demonstrating our continued strong execution towards driving growth and returns above our cost of capital.

As you can see on our slide presentation on Page 3, first quarter – fiscal first quarter 2025 highlights, we delivered revenue growth as well as gross and operating profit expansion on a sequential basis. These continued financial results were primarily earned through steady growth in new orders, which increased 11% from last year, the completion of several large projects and efficient planning and execution throughout our fulfillment teams.