11:15 AM New York – Daktronics, the electronic bill board maker surged 14% on earnings and fiscal 2009 outlook.

Daktronics, Inc., supplier of electronic scoreboards and display systems today reported fiscal 2008 fourth quarter net sales increased 16.5% to $129.12 million compared to $110.78 million for the same quarter of 2007.

Fourth quarter net income rises 62%

Net income for the fourth quarter increased 62.17% to $5.71 million or $0.14 cent per diluted share compare with $3.52 million or $0.09 cent per diluted share for the same quarter of last year.

Fourth quarter gross profit increased to $36.33 million from $32.38 million. Gross profit for the fiscal year 2008 was $147.59 million from $126.60 million for the year ended 2007.

Operating income for the quarter was $7.64 million compared to $6.12 million and for the fiscal year increased to $38.24 million from $36.92 million for fiscal 2007.

Backlog at the end of the 2008 fourth quarter was approximately $175 million, compared with a backlog of approximately $127 million a year earlier, and $138 million at the end of the third quarter of fiscal 2008.

Fiscal 2008 sales and income rise

Sales for the fiscal year 2008 increased 15% to $499.68 million compared to $433.20 million and net income increased to $26.21 million or $0.63 cent per diluted share compared with $24.43 million or $0.59 cent per diluted share for the fiscal year ended 2007.

Daktronics’ billboard segment of its commercial business unit saw substantial growth in orders in the fourth quarter of fiscal 2008, with orders exceeding $30 million for the first time, exceeding the previous record of $22 million.

Jim Morgan, president and chief executive officer, “We remain pleased with the performance of the billboard market.” Jim Morgan, President and chief executive officer. Our international orders were especially strong for the quarter, exceeding $27 million.”

Fiscal 2009 sales are expected to rise

The company expects net sales to rise 20% in the fiscal year 2009 compared to fiscal year 2008 and operating margin will range from 8% to 9.5%.

Daktronics, Inc., (DAKT: chart), in the last one year traded as high as $40.05 in the month of November 2007 and $14.37 in April of 2008. The stock in today’s trading rose $2.40 to $18.95.