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Planar reports 32 percent growth in digital signage

November 3, 2011

Planar Systems, a provider of specialty display solutions, recorded sales of $51.1 million and GAAP loss per share of $0.07 in its fourth fiscal quarter ended Sept. 30, 2011, according to a company press release.

On a Non-GAAP basis income per share was $0.01 in the fourth quarter of fiscal 2011. Sales for fiscal year 2011 were $186.5 million and GAAP loss per share was $0.24. On a Non-GAAP basis income per share was $0.05 in fiscal 2011.

"I am pleased that we were able to deliver sales growth and Non-GAAP profits for the full fiscal year as well as exceed our revenue and Non-GAAP profit expectations for the fourth quarter," Gerry Perkel, Planar's president and CEO, said in the release. "Our fastest growing product line, the Clarity Matrix super narrow bezel LCD video wall offering, is making significant inroads in a number of digital signage applications in a variety of large market segments such as retail, corporate, higher education, sports arenas and stadiums, and hospitality."

Q4 highlights

• Sales of Planar digital signage products totaled $11.4 million, and represented 22 percent of total revenue and 15 percent growth compared with the fourth quarter of the previous fiscal year, led by sales of Clarity Matrix (LCD video wall systems) which increased 290 percent compared to the same period in fiscal 2010.
• Revenue growth occurred in two of the three geographical regions compared with the fourth quarter of last year, with the Americas declining 8 percent, Europe, the Middle East and Africa (EMEA) up 63 percent and Asia Pacific up 61 percent.
• The Clarity-brand rear projection video wall cube sales grew 31 percent compared with the fourth quarter of last year, with the majority of the growth coming from the EMEA and Asia Pacific regions
• Sales of Runco high-end home products increased 24 percent compared with the same period a year ago, with growth coming from both projection and flat panel offerings
• Sales of Planar's PT Series touch monitors increased 36 percent compared with the fourth quarter of 2010, due in part to weaker sales in the year ago period.
• Launched the PS Series, a new line of low-cost commercial LCD displays for digital signage applications.

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