Daktronics Inc. (NASDAQ:DAKT) Q3 2018 Earnings Conference Call - Final Transcript
Feb 19, 2018 • 06:30 pm ET
[Operator Instructions] Our first question comes from the line of Greg Pendy with Sidoti. Your line is now open.
Hi, guys. Thanks for taking my call. Just two quick questions. One, just on the tax going down, I think you said to 21%, is that just the federal and will it be sort of -- will it be a little bit higher due to state on top of that?
We expect that will be all-in rates that include state. We also continue -- we'll continue to get R&D tax credit as well. So, we're optimistic about our overall effective tax rate that's all-in.
Okay. Thank you. And I guess, the second question, I can see where your gross margins, I guess, you mentioned the higher volumes helped inefficiencies on a year-over-year basis. I didn't hear -- did you give us a warranty expense number, or can you at least tell us was that within your targeted range, which I think has been 1.5, maybe 2% of sales?
We were actually a bit over, we were at 2.9% of sales in Q3 as compared to last year, but we have a same amount as a percent of sales during the quarter.
So, it's basically flat year-over-year, the warranty expense, as a percentage of sales. Did I catch that right?
As a percent of sales, we're up just a little bit on a year-to-date basis, 3.3% as compared to 2.8% last year.
Okay, perfect. Thank you.
Thank you. [Operator Instructions] And I'm showing no further questions in queue at this time. I would like to turn the conference back over to Reece Kurtenbach for closing remarks.
We appreciate everybody attending our call this morning. Hope you've had a nice winter, and look forward to talking to you again in June.
[Operator Closing Remarks]