DAKTRONICS INC SD
For the period ended Apr 27, 2024. Filed Jun 26, 2024.
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FY2024 · Filed Jun 26, 2024
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ITEM 2. PROPERTIES
Our principal properties include space for manufacturing products, designing and testing new developments or processes, and employee collaboration space. Our properties are generally aligned with our business segments; however, we manufacture the same products across our manufacturing facilities to efficiently utilize capacity and reduce costs. We consider all our properties to be both suitable and adequate to meet our requirements for the foreseeable future.
Our principal properties consist of the following:
| Facilities | Owned or Leased | Square Footage | Facility Activities |
|---|---|---|---|
| Brookings, SD, USA | Owned | 771,000 | Corporate Headquarters, Manufacturing, Sales, Service |
| Redwood Falls, MN, USA | Owned | 151,000 | Manufacturing, Sales, Service, Office |
| Ennistymon, Ireland | Owned | 62,000 | Manufacturing, Sales, Service, Office |
| Sioux Falls, SD, USA | Leased | 296,000 | Manufacturing, Sales, Service, Office |
| Shanghai, China | Leased | 157,000 | Manufacturing, Sales, Service, Office |
We have a $75.0 million senior credit facility (the "Credit Facility") consisting of a $60.0 million asset-based revolving credit facility (the "ABL") maturing on May 11, 2026 and a $15.0 million delayed draw loan (the "Delayed Draw Loan).
Under the Credit Facility, we have encumbered substantially all of our owned real property for the benefit of the lenders thereunder. For additional information, see "Note 7. Financing Agreements" in the Notes to Consolidated Financial Statements included in this Form 10-K.
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