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) MAY 22, 2003



                            VIDEO DISPLAY CORPORATION
             (Exact name of registrant as specified in its charter)


              Georgia                 0-13394                 58-1217564
    (State or other jurisdiction    (Commission             (IRS Employer
          Of incorporation         File Number)            Identification)

                 1868 Tucker Industrial Drive., Tucker, GA 30084
               (Address of principal executive offices) (Zip Code)

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

          (Former name or former address, if changed since last report)




ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

         The following exhibit is furnished pursuant to Item 12:

         Exhibit 99:  Earnings Release of Video Display Corporation dated May
                      20, 2003

ITEM 9.  REGULATION FD DISCLOSURE

         On May 20, 2003, Video Display Corporation issued a press release
announcing the Company's earnings for the year ended February 28, 2003. A copy
of the release is furnished with this report as an exhibit pursuant to Item 12
under Item 9 of this Form 8-K.



                                   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, thereunto duly authorized.


                              VIDEO DISPLAY CORPORATION
                                        (Registrant)



Date:  May 22, 2003           By: /s/ Carol D. Franklin
                                 ---------------------------------
                                    Carol D. Franklin
                                    Chief Financial Officer



                                  EXHIBIT INDEX

Exhibit 99      Earnings Release of Video Display Coporation dated May 20, 2003

EX-99

                                                                   Exhibit 99.1

Video Display Corporation Reports 4th Quarter and Fiscal Year 2003
Results

    ATLANTA--(BUSINESS WIRE)--May 20, 2003--

         Fourth-Quarter Revenues Are up 4.7% to $19.9 Million;
           Full Year Revenues Are up 5.8% to $76.6 Million;
         Fourth-Quarter Pretax Earnings up 183% to $1,360,000;
  Full Year Pretax Loss @ $2.75 Million Including 3rd Quarter Charges

    Video Display Corporation (NASDAQ:VIDE) today said that the
Company's fourth quarter earnings were at $1,360,000 or $0.27 per
share on a pretax basis, in line with prior earnings guidance and up
from the prior year fourth quarter pretax reported at $0.095 per
share.
    Fourth quarter earnings on a fully taxed comparative basis would
have been $0.19 versus $0.03 per share for the previous fourth quarter
period.
    Revenues for the Fourth Quarter reached record levels at $19.9
million versus $19.0 million. Full year fiscal February 28, 2003
Revenues of $76.6 Million versus prior year's Revenues of $72.4
million also were at record levels for the Company. Full year net
earnings were reported at a loss of ($1,854,000) after tax benefits of
$895,000 resulting from third quarter charges due to plant closures,
consolidations and inventory value reductions.
    "The fourth quarter was an outstanding quarter which benefited
from higher revenues, better profit margins and cost savings as a
result of our expense reduction programs," said VDC Chairman and Chief
Executive Officer, Ron Ordway. "Although we expect continued strong
results," Mr. Ordway added, "the results of the fourth quarter may not
necessarily be indicative of our next four quarters of revenues and
earnings to be generated. Taken as a whole, I believe that record
backlogs, new contracts and lower costs should, nevertheless, point to
a solid year for fiscal 2004."
    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(TM) line of projectors. Video Display Corporation operates 11
display design and manufacturing plants plus eight 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. These factors and conditions have been
described in the Company's annual report on Form 10-K for the fiscal
year ended 2/28/2002 and the Company's other filings with the
Securities and Exchange Commission. The reader is specifically
referred to these documents regarding the factors and conditions that
may affect future results.



                         3 mos. Ended              12 mos. Ended
                     2/28/03      2/28/02      2/28/03      2/29/02

Net sales          $19,916,000  $19,032,000  $76,582,000  $72,366,000
Cost of goods sold  13,118,000   13,116,000   56,840,000   49,454,000
Gross profit         6,798,000    5,916,000   19,742,000   22,912,000
Operating expenses   5,181,000    5,189,000   20,866,000   19,261,000
Operating
 profit (loss)       1,617,000      727,000   (1,124,000)   3,651,000
Net income         $   942,000  $   143,000  $(1,854,000) $ 1,182,000
Basic EPS          $      0.20  $      0.03  $     (0.39) $      0.25
Diluted EPS        $      0.19  $      0.03  $     (0.39) $      0.24
Average basic
 shares
  outstanding        4,748,000    4,701,000    4,758,000    4,701,000
Average diluted
 shares
  outstanding        5,095,000    5,073,000    4,758,000    5,073,000


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