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DAKTRONICS, a leading LED display maker, has reported financial results for its fiscal year 2020 and fourth quarter ending May 2, 2020.
For fiscal 2020, Daktrko achieved net sales of $608.9 million, an operating loss of $200,000 and net income of $500,000.For fiscal 2019, net sales were $569.7 million, with an operating loss of $4.7 million and a net loss of $1 million.Orders were valued at $620.8 million in fiscal 2020, up from $608.9 million in fiscal 2019.
In addition, for the fourth quarter of fiscal 2020, Daktronics reported net sales of $126.1 million, an operating loss of $3.5 million and a net loss of $1.1 million;For the fourth quarter of fiscal 2019, net sales were $127.8 million, an operating loss of $10.3 million and a net loss of $10.8 million.
Dakota said fourth-quarter operating results were affected by the Novel Coronavirus pandemic, particularly in its commercial and international business divisions.Orders in the field events, middle school parks, recreation and transportation sectors increased throughout fiscal 2020.But commercial orders are down because of a drop in orders from large outdoor markets.At the same time, the international business also saw a decrease in orders due to scheduling problems for large orders and delays caused by the outbreak.
Dakko is working with the X Display Company (XDC) to transform small-pitch LED displays and new Display technologies.Daktronics announced its participation in XDC's Series A investment in March this year.XDC has leading intellectual property and manufacturing capabilities in Micro LED mass transfer technology.The two companies will cooperate to introduce more new products for the small-spacing display market.
According to the report "Global LED Display Market Outlook 2020 - Corporate Meetings, Sales Chantels and Price Trends" by Jiban Consulting Group, from 2018 to 2019, the revenue ranking of global LED display manufacturers is stable, and Daktronics ranks third in the world.In 2019, the company's market share was 8.2%.
According to LEDINSIDE, the global output of LED displays in 2019 is estimated to be around $6.3 billion, up 8.5 percent from 2018. Continued market expansion is also driving revenue growth for manufacturers, especially in high-end commercial applications such as corporate boardrooms and high-end residential applications such as home theater.In addition, the trend of LED screen spacing minification continues to ferment, attracting many display manufacturers to continue to layout and launch products with smaller spacing. At present, the minimum spacing that can be mass produced has come to P0.6. It is estimated by JB Consulting that in the next few years, products with P1.2~P1.6 and ultra-small spacing below P1.1 will have the most growth momentum.(Compiled by Ledinside Janice)