SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 3, 2002
Daktronics, Inc.
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(Exact name of registrant as specified in its charter)
South Dakota 0-23246 46-0306862
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
331 32nd Avenue
Brookings, South Dakota 57006
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (605) 697-4000
Former name or former address, if changed since last report: not applicable.
Item 4. Changes in Registrant's Certifying Accountants
At a meeting held on June 25, 2002, the Board of Directors of the Company
approved the engagement of Ernst & Young LLP as its independent auditors for the
fiscal year ending May 3, 2003 to replace the firm McGladrey & Pullen LLP, who
were dismissed as auditors of the Company effective July 1, 2002. The audit
committee of the Board of Directors recommended the change in auditors on June
25, 2002.
The reports of McGladrey & Pullen LLP on the Company's financial statements for
the past two fiscal years did not contain an adverse opinion or a disclaimer of
opinion and were not qualified or modified as to uncertainty, audit scope, or
accounting principles.
In connection with the audits of the Company's financial statements for each of
the two fiscal years ended April 27, 2002 and April 28, 2001 and in the
subsequent interim period, there were no disagreements with McGladrey & Pullen
LLP on any matters of accounting principles or practices, financial statement
disclosure, or auditing scope and procedures which, if not resolved to the
satisfaction of McGladrey & Pullen LLP would have caused McGladrey & Pullen LLP
to make reference to the matter in their report. The Company has requested
McGladrey & Pullen LLP to furnish it with a letter addressed to the Commission
stating whether it agrees with the above statements. A copy of that letter,
dated July 3, 2002 is filed as Exhibit 16.1 to this Form 8-K.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit 16.1: McGladrey & Pullen LLP letter dated July 3, 2002
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DAKTRONICS, INC.
By /s/ William R. Retterath
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Its Chief Financial Officer
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Dated: July 3, 2002 William R. Retterath,
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Chief Financial Officer
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Printed name and title
Exhibit 16.1
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
We were previously the independent accountants for Daktronics, Inc., and on June
7, 2002 we reported on the consolidated financial statements of Daktronics, Inc.
and subsidiaries as of and for the two years ended April 27, 2002. On July 1,
2002, we were dismissed as independent accountants of Daktronics, Inc. We have
read Daktronics, Inc's statements included under Item 4 of its Form 8-K for July
3, 2002, and we agree with such statements.
/s/ McGLADREY & PULLEN, LLP
Sioux Falls, South Dakota
July 3, 2002