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UPDATE 1-Daktronics sees Q4 revenue hurt by slower order flow
March 24, 2010 / 10:26 PM / in 8 years

UPDATE 1-Daktronics sees Q4 revenue hurt by slower order flow

* Says orders continue to be relatively slow

* Sees competitive price pressure in all markets

* Sees ‘more aggressive’ cost reduction going forward

March 24 (Reuters) - Electronic scoreboards supplier Daktronics Inc (DAKT.O) said slower order flow would likely hurt revenue in its ongoing fourth quarter even as it saw some encouraging signs in the billboard market, sending its shares down 3 percent.

The slower order rate may also impact the company’s first quarter, Daktronics said in a regulatory filing.

Daktronics uses LED technology to light up its range of displays from small scoreboards and commercial electronic signage to customized video display systems for large stadiums and arenas.

In the filing, the company also said it reduced non-manufacturing staff by almost 5 percent in the ongoing fourth quarter.

Last month, the company reported a loss in the third quarter, hurt by lower order bookings. [ID:nSGE61M0I8]

Shares of the Brookings, South Dakota-based company closed at $7.76 Wednesday on Nasdaq. (Reporting by Sudipto Ganguly in Bangalore; Editing by Jarshad Kakkrakandy)

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