Daktronics Inc. (NASDAQ:DAKT) Q3 2018 Earnings Conference Call - Final Transcript

Feb 19, 2018 • 06:30 pm ET

Previous

Daktronics Inc. (NASDAQ:DAKT) Q3 2018 Earnings Conference Call - Final Transcript

Share
Close

Loading Event

Loading Transcript

Q & A
Operator
Operator

[Operator Instructions] Our first question comes from the line of Greg Pendy with Sidoti. Your line is now open.

Analyst
Greg Pendy

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?

Executive
Sheila Anderson

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.

Analyst
Greg Pendy

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?

Executive
Sheila Anderson

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.

Analyst
Greg Pendy

So, it's basically flat year-over-year, the warranty expense, as a percentage of sales. Did I catch that right?

Executive
Sheila Anderson

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.

Analyst
Greg Pendy

Okay, perfect. Thank you.

Operator
Operator

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.

Executive
Reece Kurtenbach

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
Operator

[Operator Closing Remarks]