Daktronics, Inc., the manufacturer of LED screens, has reported fiscal 2010 net sales of $393.2 million, a 32% decline compared to 2009 ($580.7 million), resulting in a net loss of $7.0 million (compared to a net income of $26.4 million the previous year).

“Our focus for the first and second quarters of 2011 will be on booking orders and increasing the gross profit line, while maintaining a high level of on-time delivery and exemplary customer service. We are not expecting significant changes in our payroll run rate beyond where we were at the end of our fourth quarter, at least for the next two quarters at which time we will revisit it. We will continue to focus on other areas of cost reduction, the most significant being in our material costs. To facilitate reductions in this area, we are working with our product development group to increase our focus on sourcing. Warranty costs have been higher than we would have liked, and we expect that the new products we are shipping today will demonstrate a lower warranty cost, which should have a significant positive impact over time.” said Jim Morgan, Chief Executive Officer.