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8-K - DAKTRONICS INC /SD/ (0000915779) (Filer)
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8-K - DAKTRONICS INC /SD/ (0000915779) (Filer)
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Exposes How Poor Governance and a Private Family Business Mentality Have Driven Massive Underperformance for Shareholders Outlines a Clear Path to ~$40 Per Share and ~100% Upside Through Governance Reforms, Board Refreshment and Operational Excellence Plans to Nominate Highly Qualified, Independent Director Candidates for Election to the Company's Board Visit www.FixDaktronics.com to View the Presentation Alta Fox Capital Management, LLC (together with its affiliates, "Alta Fox" or "we"), the largest shareholder of Daktronics, Inc. (NASDAQ:DAKT) ("Daktronics" or the "Company") based on its beneficial ownership interest on a fully converted basis of 11.7% of the outstanding shares, t
BROOKINGS, S.D., Dec. 04, 2024 (GLOBE NEWSWIRE) -- Daktronics, Inc. (NASDAQ-DAKT), the leading U.S.-based designer and manufacturer of best-in-class dynamic video communication displays and control systems for customers worldwide, today reported results for its fiscal 2025 second quarter which ended October 26, 2024. Fiscal Q2 2025 financial highlights include: Sales of $208.3 million, a 4.5 percent increase from the second quarter of fiscal 2024, and fiscal year-to-date sales of $434.4 million, up 0.6 percent compared with the same period last fiscal yearGross profit as a percentage of net sales of 26.8 percent, compared to 27.2 percent for the second quarter of fiscal 2024, and the
BROOKINGS, S.D., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Daktronics, Inc. (NASDAQ-DAKT), announced today it will release its second quarter fiscal 2025 financial results on Wednesday, December 4, 2024 before the market opens. The Company will host a conference call and webcast for all interested parties at 10:00 AM CT that day. Reece A. Kurtenbach, Chief Executive Officer, and Sheila M. Anderson, Chief Financial Officer, will host the conference call, which will contain forward-looking statements and other material information. To listen to the earnings call by phone, participants must pre-register at Daktronics Earnings Call Registration. All registrants will receive dial-in i
Asserts Independent Directors are Placing Shareholders, Customers and Employees at Unacceptable Risk by Allowing Chairman and CEO Reece Kurtenbach to Continue in his Roles Highlights that Mr. Kurtenbach has Presided Over Years of Abysmal Governance, Dismal Capital Allocation, Pervasive Nepotism Involving Family Members and Sustained Value Destruction Notes Mr. Kurtenbach and his CFO Allowed Daktronics to Become a "Going Concern" Months After Alta Fox Privately Conveyed a Willingness to Provide Certain and Immediate Capital Questions Independent Directors' Motivation for Failing to Respond to Alta Fox's Most Recent Proposal to Promptly Deliver Affordable Capital, Provided Leadership Chang
BROOKINGS, S.D., Dec. 07, 2022 (GLOBE NEWSWIRE) -- Daktronics, Inc. (NASDAQ - DAKT) today announced the expansion of its Board of Directors to eight members and the appointment of Howard I. Atkins as the eighth director. The addition of Mr. Atkins is part of the Board's ongoing refreshment process. He was selected pursuant to the Cooperation Agreement with Daktronics shareholder Prairieland Holdco, LLC ("Prairieland") and its affiliates, including Andrew Siegel (collectively, the "Prairieland Group"), which was announced on July 27, 2022. Andrew Siegel stated, "The Board conducted a comprehensive search and recruitment effort, and I am pleased that it resulted in the selection of
BROOKINGS, S.D., June 02, 2021 (GLOBE NEWSWIRE) -- Daktronics, Inc. (NASDAQ - DAKT) announces the retirement of Robert G. Dutcher and Byron J. Anderson both effective on September 1, 2021. Dutcher and Anderson have served on the Daktronics board of directors since 2002 and 2005, respectively. The board also announces the nominations of Shereta Williams and Dr. Lance D. Bultena as independent directors to its board for election at the September 1, 2021 annual meeting of shareholders. Reece A. Kurtenbach, chairman, president and CEO, recognized the contributions from Dutcher's and Anderson's leadership and dedication to Daktronics, "We thank Byron and Bob for their significant contribution
Cree LED, a Penguin Solutions brand (Nasdaq: PENG), and Daktronics (Nasdaq: DAKT), today announced a multi-year, global patent license agreement effective December 2024. With limited exceptions, this agreement provides a license to Daktronics for Cree LED's patented technology for the duration of the agreement. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241217464919/en/Daktronics licenses Cree LED's patented technology in a multi-year global agreement announced today. (Photo: Business Wire) With over 35 years of expertise in LED die and packaging technology, along with a robust portfolio of intellectual property covering the
Expresses Support for Shareholder Alta Fox and Encourages Board to Act in Best Interests of ALL Shareholders Offers Recommendations to Improve the Company Breach Inlet Capital, LP, an investment firm focused on underfollowed and misunderstood small cap equities, today issued the following letter to the Board of Directors of Daktronics, Inc. (NASDAQ:DAKT). The full text of the letter follows: December 17, 2024 Daktronics, Inc. 201 Daktronics Drive Brookings, South Dakota 57006 Attention: Board of Directors Dear Members of the Board: Breach Inlet Capital, LP (together with its affiliates, "Breach Inlet Capital" or "we") has been a patient and supportive shareholder of Daktronics
Publicly Clarifies Alta Fox's Stance on its Convertible Promissory Note Reiterates its Belief that Daktronics Can Achieve ~$40 Per Share and ~100% Upside Through Governance Reforms, Board Refreshment and Operational Excellence Alta Fox Capital Management, LLC (together with its affiliates, "Alta Fox" or "we"), the largest shareholder of Daktronics, Inc. (NASDAQ:DAKT) ("Daktronics" or the "Company") based on its beneficial ownership interest on a fully converted basis of 11.7% of the outstanding shares, today issued the following statement to correct misleading claims from the Company regarding Alta Fox's motives and recent actions: "Yesterday, we released a detailed presentation outli