UPDATE: Daktronics Reports Better-Than-Expected FQ4 Earnings

Daktronics Inc DAKT released its results for the fiscal 2011 fourth quarter on Wednesday. Daktronics reported its FQ4 net income at $3.0 million, or $0.07 per share, versus a net loss of $4.9 million, or $0.12 per share, in the year-ago period. Its net sales came in at $114.4 million, up from $92.0 million, in the year-earlier period. However, analysts were expecting earnings of $0.05 per share on revenue of $106.25 million. Daktronics' backlog at the end of the fiscal 2011 fourth quarter was around $131 million, versus around $127 million, in the year-earlier period. Daktronics shares surged 4.65% to $11.25 in pre-market trading. Read more from Benzinga's Company news.