Daktronics Posts Strong Fiscal Q2 Behind New Venues

Daktronics, the video display and scoreboard manufacturer, posted $164.5 million in sales in fiscal Q2 2022 compared to $127.4 million for the same period last year. 

The results were driven by increased market demand and the ease of pandemic-related restrictions on construction sites of new state-of-the-art venues and facilities. 

• In August, the company partnered with Austin FC to manufacture and install a 5,580-square-foot LED display for the team’s new stadium.
• It upgraded Boston’s TD Garden center-hung scoreboard in September with more than 4K resolution, making it the highest-quality display in professional basketball and hockey.
• The company installed more than 28,175 square-feet of digital signage in Climate Pledge Arena, the home of the Seattle Kraken.
• It placed more than 15,000 square feet of LED displays within UBS Arena, the new $1 billion home of the New York Islanders. 

Despite a strong fiscal Q2, Daktronics saw its sales hampered by supply chain constraints that are plaguing industries around the world. The company reported a product order backlog of $282 million during the quarter, up from $201 million in fiscal Q2 2021. 

Daktronics expects its supply chain issues to continue through the next calendar year. As a result, the company anticipates volatility in its pricing, production, and order cycles.