(RTTNews) – Daktronics, Inc. (DAKT) reported first-quarter earnings consistent with a consistent percentage of $0.17 to $0.16 a year ago. First quarter net sales were $143.6 million to $180.3 million last year. Orders were $122.2 million to $187.5 million. The Company noted that the quarter ended August 1, 2020 had effects consistent with the effects for thirteen weeks, while the quarter ending August 3, 2019 had effects consistent with the effects for 14 weeks.
First quarter net sales declined across all business units. The corporate indicated that the replacement in sales is primarily similar to fluctuations in the order schedule and conversion to sales.
Reece Kurtenbach, CEO, said: “During the first quarter of fiscal 2021, our consumers incurred their expenses on audiovisual systems by executing the economic and commercial implications of COVID-19. We have taken the appropriate measures for our operating expenses to align. Expected decreases in orders and sales.”