Daktronics Inc. said its normalized net income for the fiscal third quarter ended Jan. 30 amounted to a loss of 8 cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.
The per-share loss widened year over year from 2 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.4 million, compared with a loss of $759,380 in the year-earlier period.
The normalized profit margin dropped to negative 2.7% from negative 0.6% in the year-earlier period.
Total revenue increased year over year to $123.8 million from $118.1 million, and total operating expenses increased 8.1% on an annual basis to $129.4 million from $119.7 million.
Reported net income came to a loss of $1.8 million, or a loss of 4 cents per share, compared to income of $439,910, or 1 cents per share, in the year-earlier period.
