Daktronics Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended January 27, 2018. For the quarter, the company reported net sales of $130,316,000 against $115,719,000 a year ago. Operating loss was $3,338,000 against $6,934,000 a year ago. Loss before income taxes was $3,707,000 against $7,112,000 a year ago. Net loss was $6,189,000 or $0.14 per basic and diluted share against $5,127,000 or $0.12 per basic and diluted share a year ago.

For the nine months, the company reported net sales of $472,353,000 against $442,857,000 a year ago. Operating income was $17,825,000 against $13,714,000 a year ago. Income before income taxes was $17,743,000 against $13,849,000 a year ago. Net income was $9,372,000 or $0.21 per basic and diluted share against $9,433,000 or $0.21 per basic and diluted share a year ago. Net cash provided by operating activities was $26,953,000 against $45,387,000 a year ago. Purchases of property and equipment were $10,865,000 against $6,709,000 a year ago. Free cash flow was $18,195,000 against $38,844,000 a year ago.

The company expects effective tax rate for the fourth quarter of fiscal 2018 to be approximately 30%.

For fiscal 2019, the company estimates an effective tax rate of approximately 21%.