Reuters: Hot Stocks: UPDATE 1-Daktronics results beat estimates, shares jump

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UPDATE 1-Daktronics results beat estimates, shares jump Aug 21st 2012, 13:00 Tue Aug 21, 2012 9:00am EDT * First-quarter earnings $0.16/share vs est $0.04 * First-quarter revenue $132.9 mln vs est $120.4 mln * Shares up 18 pct premarket Aug 21 (Reuters) - Electronic scoreboard and billboard maker Daktronics Inc reported better-than-expected quarterly results on high-margin contracts in its live events and transportation segments, and forecast higher sales in the second quarter. Daktronics shares jumped 18 percent in Tuesday's premarket trading. They had closed at $8.06 on the Nasdaq on Monday. The company expects the record level of orders booked during the first quarter to push up net sales for the current quarter above year-ago levels. Orders rose about 29 percent in Daktronics's live events segment, which caters mainly to universities and sporting facilities and brought in a third of the company's sales last year. Transportation orders more than doubled, helped by an order of about $21 million from the Los Angeles International Airport. Net income rose to $6.7 million, or 16 cents per share, for the first quarter from $3.4 million, or 8 cents per share, a year earlier. Revenue for the quarter rose to $132.9 million from $118.7 million a year earlier. Analysts on average had expected earnings of 4 cents per share on revenue of $120.4 million, according to Thomson Reuters I/B/E/S. Link this Share this Digg this Email Reprints

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