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Get filing alertsDaktronics posts record Q1 EPS of $0.40, replaces buyback program with $34.5M authorization
Filed September 2, 2026 · Period ending September 1, 2026 · ~1 min read
Key Changes
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Fiscal Q1 2027 diluted EPS rose 21.2% to $0.40, the highest quarterly EPS in 12 quarters.
Exhibit 99.1 view on EDGAR → -
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Sales grew 7.1% to $234.6 million despite one fewer week, with operating margin of 10.6%.
Exhibit 99.1 view on EDGAR → -
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Board terminated the Fiscal 2017 repurchase program and authorized a new $34.5 million Fiscal 2027 program.
Item 8.01 verify on EDGAR → -
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CEO Ramesh Jayaraman's base salary increased to $600,000, with FY2027 cash incentive target set at 100% of salary.
Item 5.02 verify on EDGAR → -
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New orders declined to $191.8 million from $238.5 million, attributed to timing of substantial orders expected in Q2.
Exhibit 99.1 view on EDGAR →
Summary
Daktronics reported strong fiscal first-quarter results, with diluted EPS up 21.2% to $0.40 and sales up 7.1% to $234.6 million despite one fewer week in the quarter. Operating margin held at 10.6%, and operating cash flow improved to $31.4 million. The company ended the quarter with $154.6 million in cash after repurchasing $4.4 million of stock.
Separately, the board replaced its long-standing Fiscal 2017 repurchase program with a new $34.5 million authorization, which management says is substantially equivalent to the remaining authority under the old program. The new program has no fixed expiration and gives management full discretion over timing and volume.
CEO Ramesh Jayaraman received a base salary increase to $600,000 and a fiscal 2027 cash incentive target of 100% of salary. The company also amended its credit agreement to permit transfer of certain non-material patents below fair market value, a technical covenant change. New orders declined year over year, but management attributed the shortfall to timing of large orders expected in the second quarter.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Daktronics amended its credit agreement to permit transferring certain non-material patents for less than 75% of fair market value.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Amendment No. 1 amended the Credit agreement to allow the Company to transfer certain non-material patents obtained in connection with the Company’s previous acquisition of a display business from X Display Company Technology Limited, pursuant to the terms and conditions of the acquisition documents, for consideration less than 75% of fair market value.
The company entered into an amendment to its credit agreement with JPMorgan Chase Bank as agent. The amendment permits the transfer of certain non-material patents acquired from X Display Company Technology Limited for consideration below 75% of fair market value, which would otherwise likely be restricted under the original credit agreement. This is a technical covenant modification rather than a new financing or change in borrowing terms.
Event · Item 2.02 — Results of Operations and Financial Condition
Daktronics issued a press release announcing fiscal Q1 2026 results for the quarter ended August 1, 2026.
Added in current filing · verify on EDGAR →
On September 2, 2026, the Company issued a press release announcing its financial results for the fiscal quarter ended August 1, 2026 and related material information (the “Release”).
The company announced its financial results for the fiscal quarter ended August 1, 2026 via a press release dated September 2, 2026. The release is attached as Exhibit 99.1 and incorporated by reference. No specific financial figures are disclosed in the 8-K body itself.
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Mr. Jayaraman’s base salary increased to $600,000 annually, effective September 13, 2026.
The Board approved a raise for President and CEO Ramesh Jayaraman, bringing his annual base salary to $600,000 starting September 13, 2026. The filing does not disclose his prior salary, so the size of the increase cannot be determined from this 8-K.
Event · Item 7.01 — Regulation FD Disclosure
Daktronics posted supplemental investor materials on its website under Regulation FD.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
On September 2, 2026, the Company posted supplemental investor materials, including a slide presentation, on its investor.daktronics.com website.
The company made supplemental investor materials, including a slide presentation, available on its investor relations website. This is a routine Regulation FD disclosure with no specific financial figures or material business changes disclosed in the 8-K body.
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On September 1, 2026, the Board voted to terminate the Company’s existing program to repurchase outstanding shares of the Company’s common stock (the “Fiscal 2017 Repurchase Program”), which had been established and expanded through a series of Board authorizations beginning in fiscal 2017, and to implement a new program authorizing repurchases of outstanding shares of the Company’s common stock (the “Fiscal 2027 Repurchase Program”).
The Board replaced the old Fiscal 2017 repurchase program with a new Fiscal 2027 program. The filing states the change is intended to simplify administration and disclosure, not to materially alter the amount of repurchase authority or capital allocation strategy.
Added in current filing · verify on EDGAR →
The total amount authorized for repurchases under the Fiscal 2027 Repurchase Program is $34.5 million.
The new program authorizes up to $34.5 million in share repurchases. The filing says this amount is substantially equivalent to the repurchase authorization that remained available under the terminated Fiscal 2017 program.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The Fiscal 2027 Repurchase Program does not require the Company to repurchase a certain amount of shares and does not have a fixed expiration date and may be suspended, discontinued, or terminated at any time.
The new program gives management full discretion over timing, volume, and nature of repurchases, with no minimum purchase obligation and no fixed expiration date. Repurchases may occur in open market or private transactions, including under Rule 10b5-1 and Rule 10b-18.
Event · Exhibit 99.1
Daktronics reports fiscal Q1 2027 EPS of $0.40, up 21.2%, on 7.1% sales growth and 10.6% operating margin.
Added in current filing · view on EDGAR →
Operating income of $24.9 million, 7.2% growth from $23.3 million in the first quarter of fiscal 2026, operating margin of 10.6%
Operating income rose 7.2% to $24.9 million, with operating margin of 10.6% for the quarter. The margin was flat versus the prior-year quarter.
Added in current filing · view on EDGAR →
Operating cash flow of $31.4 million, compared to $26.1 million in the first quarter of fiscal 2026, resulting in period-end cash balance of $154.6 million net of $4.4 million share repurchases
Operating cash flow increased to $31.4 million from $26.1 million a year earlier. The company ended the quarter with $154.6 million in cash after repurchasing $4.4 million of stock under its $40 million buyback authorization.
Added in current filing · view on EDGAR →
New orders(1) for products and services of $191.8 million, compared to $238.5 million in the first quarter of fiscal 2026, reflecting the timing of a few substantial orders expected to be booked in the second quarter of fiscal 2027
New orders declined to $191.8 million from $238.5 million a year earlier, which management attributes to the timing of several substantial orders expected to be booked in Q2. Product backlog was $311.3 million, the sixth consecutive quarter above $300 million.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 3, 2026 · How we verify