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): January 17, 2011

VIDEO DISPLAY CORPORATION

(Exact name of registrant as specified in its charter)

Georgia	0-13394	58-1217564
(State of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
1868 Tucker Industrial Road
Tucker, Georgia		30084
(Address of principal executive offices)		(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 January 17, 2011, Video Display Corporation issued a press release announcing the results of operations for the third quarter of fiscal 2011 ended November 30, 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 January 17, 2011.

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: January 18, 2011	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 Reports Third Quarter and Nine Month Results

January 17, 2011 — Video Display Corporation (NASDAQ: VIDE), a world leader in the supply of unique medical, defense and industrial display solutions, reports financial results for the fiscal third quarter and nine month periods ended November 30, 2010.

Revenue for the three month period ended November 30, 2010 is reported at $16.9 million, reflecting the expected decrease in quarterly revenues caused by the early shipment of products by the Company in the previous quarter ended August 31, 2010 which had been scheduled for shipment in the 3^rd quarter. The fiscal 2011 3^rd quarter revenue is reported as slightly less than the previous year third quarter revenue of $17.5 million by $591,000 or 3.37%. Revenue was also negatively impacted at the Company’s Fox International Ltd fulfillment service subsidiary by $1.17 million, versus the previous year’s 3^rd quarter, due to disruptions in the supply chain from a major Japanese supplier of parts required to fill existing orders as well as reduced demand from a large customer for consumer parts and accessories.

Fully diluted earnings per share for the third fiscal quarter are reported at a loss of ($0.05) versus the previous year’s third quarter fully diluted profit of $0.01 per share. As with third quarter revenues, this period’s quarterly profits were negatively impacted by the Fox Intl Ltd quarterly performance. In this period, the Company’s display operations generated pretax profits of $285,000 which were offset by losses at Fox which reported a pretax loss of ($894,000) for the period.

Revenue for the nine month period ended November 30, 2010 is reported at $59.4 million versus $50.7 million reported for November 30, 2009, an increase of 17% versus the previous year period. Fully diluted earnings per share are reported at $0.17 for the first nine months of fiscal 2011 versus $0.03 for the like period of 2010.

Company CEO, Ron Ordway, stated, “Results, for the third quarter, were less than impressive for a variety of causes. I anticipate that the Company will show improved results for the fourth quarter. With the effect of Sony parts shipments being 95% back to normal and regular shipments from the Display division also on schedule, I would expect previously stated fourth quarter guidance, without any non-recurring gains or losses, to still be attainable and that full year earnings per share are expected to be in the range of $0.23 to $0.25 per share for fiscal February 28, 2011. It is expected, however, that the Company will report a non recurring gain on the auction sale of its Fox Intl Ltd subsidiary which is scheduled to occur during the Company’s fourth fiscal quarter.”

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 rugged AMLCD and CRT displays as well as complete projection systems utilizing VDC’s Marquee™ line of projectors. Video Display Corporation operates 8 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, 2009, 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						Nine Months Ended
	November 30,						November 30,
	2010			2009			2010			2009
Net sales	$	16,922		$	17,513		$	59,373		$	50,704
Cost of goods sold		12,009			12,328			40,613			33,713
Gross profit		4,913			5,185			18,760			16,991
Operating expenses
Selling and delivery		1,868			1,711			5,690			5,234
General and administrative		3,435			3,202			10,185			11,084
		5,303			4,913			15,875			16,318
Operating profit		(390	)		272			2,885			673
Other income (expense)
Interest expense		(243	)		(308	)		(832	)		(811	)
Other, net		62			80			251			413
		(181	)		(228	)		(581	)		(398	)
Income before income taxes		(571	)		44			2,304			275
Income tax expense		(152	)		(26	)		802			27
Net income	$	(419	)	$	70		$	1,502		$	248
Basic earnings per share of common stock	$	(.05	)	$	.01		$	.18		$	.03
Diluted earnings per share of common stock	$	(.05	)	$	.01		$	.17		$	.03
Basic weighted average shares outstanding		8,365			8,372			8,365			8,445
Diluted weighted average shares outstanding		8,700			8,706			8,693			8,756

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