South Dakota-based Daktronics Inc. is cutting about 100 jobs as the company anticipates financial setbacks created by the coronavirus pandemic.
The Argus Leader reports the Brookings-based maker of electronic displays and billboards reported its net sales, net income and cash generated by operations for the first fiscal quarter were down.
The company reported net sales dropped from $180.3 million to $143.6 million, for the quarter, while cash generated dropped from $18.2 million to $8.5 million.
The company said the job cuts will affect employees across the United States and Canada. The layoffs equal less than 4% of the company’s workforce.
Daktronics in May also laid off about 100 employees due to the impacts of the COVID-19 pandemic.
By: Associated Press