By Kailyn Rhone
Shares of Daktronics rose after the company reported higher profit, revenue in the second quarter and said it expects to see order volume increase for the year.
The company's stock jumped 13% to $18.45 in morning trading on Wednesday. Shares have more than doubled this year.
The electronic scoreboards manufacturer on Wednesday posted a second-quarter profit of $21.4 million, or 22 cents a share, compared with $2.17 million, or 5 cents a share, in the same period last year.
Revenue rose 4.5% to $208.3 million, higher than the $199.4 million in the same quarter a year ago.
Product order backlog grew to $236 million, compared with $306.9 million in the year-ago quarter.
Cash flows from operations were $62.8 million for the first six months of fiscal 2025 compared with $44.3 million a year ago.
The company said it entered the third quarter with order growth of 3.3% year-over-year, and continues to expect order volume to increase for the full fiscal year.
Write to Kailyn Rhone at kailyn.rhone@wsj.com
(END) Dow Jones Newswires
December 04, 2024 10:47 ET (15:47 GMT)
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