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Wednesday, 19 November 2003
November 19, 2003 Daktronics, Inc. (DAKT)
Hello Friends! Thanks again for stopping by. I have still been unable to update my website as I am having trouble with the Site-Builder software. Thank goodness the blog portion is still working for me so I can continue to post my ideas. As always, PLEASE discuss any and all ideas you derive from this site with your financial advisor. I am not a financial advisor but rather an amateur investor and I worry that some people may use my ideas and end up with losses instead of gains! Certainly feel free to discuss these ideas you glean with your advisor...but do so before acting on them!

The market has been acting a bit oversold short-term and took a break from its recent correction with a nice rally today. One stock that showed up on the lists is the stock of an interesting company called Daktronics (DAKT). I do not at this time own any shares of DAKT but did own some about a year ago. DAKT had a nice day today closing at $17.74/share up $2.11 or 13.50% on the day. According to money.cnn.com, DAKT "...is a supplier of electronic scoreboards, computer programmable display systems and large video displays for sport, business and government applications."

The stock moved up today on a nice earnings report issued yesterday, 11/18/03, after the close of the market. According to Yahoo.com, from BUSINESS WIRE, Daktronics reported their second quarter 2004 financial results for the period ended November 1, 2003. Net sales were $58.3 million, compared with $48.1 million last year, net income was $6.7 million or $.34/share compared to $4.0 million or $.21/share last year.

Looking at Morningstar.com, we find a fairly steady (except for a slight dip in 2002) increase in revenue from $95.9 million in 1999, $123.4 million in 2000, $152.3 million in 2001, a slight dip to $148.8 million in 2002, $177.8 million in 2003 and $182.6 million in the trailing twelve months.

Earnings/share have improved from $.24/share in 1999 to $.70/share in the trailing twelve months.

Free cash flow has also behaved well improving from $0 in 2001, to $9 million in 2002, $11 million in 2003, and $14 million in the trailing twelve months.

The balance sheet on Morningstar.com looks nice with $11.2 million in cash and $66.4 million in other current assets as opposed to $38.3 million in current liabilities and $4.7 million in long-term liabilities.

Looking at Yahoo.com for "key statistics" we find that DAKT has a market cap of $330.71 million. the trailing p/e isn't bad at 25.49 and the forward p/e (fye May, 2005) is at 17.76. Interestingly, the PEG ratio is at 0.84, one of the few stocks on this site with a PEG under 1.0...suggesting an excellent growth stock value...and the Price/Sales on trailing twelve months is at 1.60.

There are 18.64 million shares outstanding with 13.70 million of them that float. As of 10/8/03, there are 380,000 shares out short representing 7.17 days of trading. Perhaps these shares are the ones driving the stock upward on the good days? No dividend is paid and the last stock dividend was a 2:1 split in June, 2001.

This is an interesting stock. Certainly they are a niche player, but they have to be one of the biggest companies in their field of manufacturing all of those elaborate electronic signs at sports arenas. The stock sells at an excellent price relative to its earnings and growth with a PEG under 1.0. I don't own any shares but would not be adverse to picking some up here!

Please remember to discuss this and any other ideas on this site with YOUR investment advisor. As you know, not all investments here will be profitable and in fact may result in significant financial losses.

If you have any questions or comments, or even if you just have words of encouragement, I would love to hear from you at bobsadviceforstocks@lycos.com Have a great week everyone and hope you all have a wonderful Thanksgiving!

Bob


Posted by bobsadviceforstocks at 8:11 PM CST | Post Comment | Permalink

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