Daktronics Announces Contract to Provide Variable Message Signs for Cumberland Gap Tunnel Authority.Business Editors/Transportation Writers BROOKINGS, S.D.--(BUSINESS WIRE)--Nov. 12, 2003 Daktronics, Inc. (Nasdaq:DAKT) announced today that it has been chosen to provide a roadway traffic management system including electronic displays for use at the Cumberland Gap Cumberland Gap, natural passage through the Cumberland Mts., near the point where Virginia, Kentucky, and Tennessee meet. The gap was formed by the erosive action of a stream that once flowed there. It was explored and named in 1750 by Dr. Tunnel located at the juncture junc·ture n. The point, line, or surface of union of two parts. of Kentucky, Tennessee and Virginia. The project exceeds $2.5 million including installation, for which Daktronics is not responsible. The display equipment, which Daktronics will manufacture, represents a significant portion of the project. Shipment of the first displays is scheduled for November 2003. The project is being managed by the Cumberland Gap Tunnel Authority with Vaughn and Melton mel·ton n. A heavy woolen cloth used chiefly for making overcoats and hunting jackets. [After Melton Mowbray, an urban district of central England.] , Consulting Engineers, Inc. Bluegrass bluegrass, any species of the large and widely distributed genus Poa, chiefly range and pasture grasses of economic importance in temperate and cool regions. In general, bluegrasses are perennial with fine-leaved foliage that is bluish green in some species. Electrical Consultants is assisting the tunnel authority with the installation of the Daktronics displays. The project includes the design and manufacture of 32 Vanguard Vanguard Any of three unmanned U.S. experimental satellites. Vanguard I (1958), the second U.S. satellite placed in orbit around Earth (after Explorer 1), was a tiny 3.25-lb (1.47-kg) sphere with two radio transmitters. (R) variable message signs with central control. Daktronics will provide both 12-inch and 18-inch character Vanguard(R) displays to meet the needs of the tunnel. The system will be used to control traffic, assure safety during maintenance, safely move hazardous materials through the tunnel, and communicate other important messages to motorists. Some of the displays will provide a single line of information; others will provide multiple lines of data. Eight of the 32 displays will incorporate walk-in cabinets. Also included in the project are lane use signals and variable speed limit displays. More than 40 lane use signals will be mounted to the Vanguard(R) variable message signs to help manage traffic through different lanes in the tunnel. Eight variable speed limit signs, using 18-inch digits, are also included in the project. All the displays use amber light emitting diode See LED. (LED) technology for superior brightness and reliability. Daktronics will also upgrade the control room with new hardware and software. An important part of the control system upgrade will be the redesign re·de·sign tr.v. re·de·signed, re·de·sign·ing, re·de·signs To make a revision in the appearance or function of. re of the existing communications system In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. , using fiber-optic modems that will provide "self-healing" ring capability within the Authority's existing infrastructure. "Our Vanguard system continues to be a great solution for managing traffic and improving safety on our nation's roadways," said Jim Morgan, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Daktronics. "Our display systems are an important part of intelligent transportation systems, relaying important information to motorists, like the thousands that use the Cumberland Gap Tunnel each day." This contract was executed prior to the end of the Company's fiscal second quarter and is included in the backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. total that will be announced, along with other financial results for the second quarter, on November 18, 2003. About the Cumberland Gap Tunnel Construction on the Cumberland Gap Tunnel began in 1985 and was completed in 1996. The tunnel is located within the Cumberland Gap National Park. The tunnel was built to create safe passage through the Cumberland Gap, to increase tourism in the area, and to preserve this historic gateway. The tunnel is 4,600 feet long and is used by approximately 26,000 vehicles per day. About Daktronics, Inc. Daktronics has strong leadership positions in, and is one of the world's largest suppliers of, electronic scoreboards, computer-programmable displays, large screen video displays and control systems. The Company excels in the control of large display systems, including those that require integration of complex multiple displays showing real time information, graphics, animation and video. Daktronics designs, manufactures, markets and services display systems for customers around the world in sport, business and transportation applications, and celebrates its 35th year in business in 2003. For more information, visit the Company's worldwide web site at http://www.daktronics.com, email the Company at sales@daktronics.com, call toll-free 1-800-DAKTRONICS (800-325-8766) in the U.S., or write to the Company at 331 32nd Avenue, P.O. Box 5128, Brookings, SD 57006-5128. Cautionary Notice: In addition to statements of historical fact, this news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. reflecting the Company's expectations or beliefs concerning future events which could materially affect Company performance in the future. The Company cautions that these and similar statements involve risk and uncertainties including changes in economic and market conditions, management of growth, timing and magnitude of future contracts, and other risks noted in the Company's SEC filings which may cause actual results to differ materially. Forward-looking statements are made in the context of information available as of the date stated. The Company undertakes no obligation to update or revise such statements to reflect new circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or or unanticipated events as they occur. |
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