8-K

UNITED STATES
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): August 27, 2010

VIDEO DISPLAY CORPORATION

(Exact name of registrant as specified in its charter)

Georgia
(State of incorporation) 0-13394
(Commission File Number) 58-1217564
(IRS Employer Identification No.)

1868 Tucker Industrial Road
Tucker, Georgia
(Address of principal executive offices) 30084
(Zip code)

Registrant’s telephone number, including area code: (770) 938-2080

Not Applicable
(Former name or former address, if changed since last report)

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure

On October 14, 2010, Video Display Corporation issued a press release announcing the results of operations for the second quarter of fiscal 2011 ended August 31, 2010 and updated earnings guidance for the full year ending February 28, 2011. A copy of the release is included as exhibit 99.1 of this form 8-K and is included herein by reference.

The information in this Item 2.02 of this Form 8-K, including Exhibit 99.1, attached, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. The information in this Current Report shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

     (c) Exhibits

Exhibit
Number	Description of Exhibit
99.1	Press Release of Video Display Corporation, Dated October 14, 2010.

SIGNATURES

     Pursuant to the requirements 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.

Date: October 14, 2010	VIDEO DISPLAY CORPORATION
	By:	/s/ Ronald D. Ordway
		Ronald D. Ordway
		Chief Executive Officer

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Video Display Corporation Reports Second Quarter and First Half Fiscal 2011 Financial Results

• Second quarter 2011 net sales of $22.1 million, a 32% increase compared to $16.8 million for the second quarter of fiscal 2010

• Second quarter 2011 income from operations of $1.34 million, as compared to income from operations of $26,000 for the second quarter of 2010

• First half 2011 net sales of approximately $42.5 million, an increase of 28% compared to $33.2 million for the first half of fiscal 2010

• First half 2011 income from operations of $1.92 million as compared to income from operations of $178,000 for the first half of fiscal 2010.

• Second quarter 2011 fully diluted earnings per share of $0.15, a dramatic increase compared to $0.00 earnings per share for the second quarter of fiscal 2010.

• First half 2011 fully diluted earnings per share of $0.22, a 10 fold increase compared to $0.02 earnings per share for the second quarter of fiscal 2010.

ATLANTA — October 14, 2010 — Video Display Corporation (NASDAQ: VIDE), an international leader in the design, manufacture and distribution of niche market displays, today announced financial results for the second quarter ended August 31, 2010.

Video Display Corporation reports net sales for the second quarter ended August 31, 2010 of $22.1 million, an increase of $5.3 million versus net sales of $16.8 million for the second quarter ended June 30, 2010. Net Earnings from operations for the second quarter of 2011 is reported to be $1.34 million, an increase of $1.31 million as compared to income from operations of $26,000 in the second quarter of 2009. Fully diluted earnings per share are reported to be $0.15 compared to $0.00 reported for the second quarter of fiscal 2010. The Company had previously released upgraded guidance of $0.13 in earnings per share for the 2^nd quarter of fiscal 2011.

Company CEO, Ron Ordway, stated, “Results for the second fiscal quarter remained stronger than previously budgeted expectations. Based upon the strong showing for the first six months of fiscal 2010, I believe that full year results, previously guided to be approximately $0.30 per diluted share, will likely exceed those expectations by approximately 20%. New earnings per share expectations for the entire year ended February 28, 2011 are now guided to be in the range of $0.34 to $0.36 per common share.”

Video Display Corporation designs, develops, and manufactures unique solutions for display requirements for military, medical, and industrial use with emphasis on high-end training and simulation applications. Its product offerings include ruggedized CRT and AMLCD displays as well as complete projection systems utilizing VDC’s Marquee™ line of projectors. Video Display Corporation operates eight display design and manufacturing plants plus additional sales facilities throughout the United States and Europe.

This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, from time to time, Video Display Corporation or its representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in, but are not limited to, various filings made by the Company with the Securities and Exchange Commission, press releases, or oral statements made with the approval of an authorized executive officer of the Company. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions, including items discussed in the Company’s Form 10-K for the year ended February 28, 2010, filed with the Securities and Exchange Commission. The Company undertakes no duty to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.

Video Display Corporation and Subsidiaries
Consolidated Statements of Income (unaudited)
(in thousands, except per share data)

	Three Months Ended						Six Months Ended
	August 31,						August 31,
	2010			2009			2010			2009
Net sales	$	22,114		$	16,840		$	42,451		$	33,191
Cost of goods sold		14,704			10,872			28,604			21,385
Gross profit		7,410			5,968			13,847			11,806
Operating expenses
Selling and delivery		1,954			1,740			3,822			3,523
General and administrative		3,355			3,938			6,750			7,882
		5,309			5,678			10,572			11,405
Operating profit		2,101			290			3,275			401
Other income (expense)
Interest expense		(287	)		(303	)		(589	)		(503	)
Other, net		124			32			189			333
		(163	)		(271	)		(400	)		(170	)
Income before income taxes		1,938			19			2,875			231
Income tax expense		594			(7	)		954			53
Net income	$	1,344		$	26		$	1,921		$	178
Net income per share — basic	$	.16		$	.00		$	.23		$	.02
Net income per share — diluted	$	.15		$	.00		$	.22		$	.02
Average shares outstanding — basic		8,365			8,372			8,365			8,482
Average shares outstanding — diluted		8,680			8,680			8,690			8,781

CONTACT: Video Display Corporation Ronald D. Ordway, 770/938-2080