Planar Announces Fiscal Q4 and Full Year 2013 Financial Results
Gail Chiasson, North American Editor
Planar Systems Inc., Beaverton, Oregon-company in display and digital signage technology, has announced recorded sales of $45.7 million and a GAAP loss per share of $0.01 in its fourth fiscal quarter ended September 27, 2013.
On a Non-GAAP basis, income per share was $0.05 in the fourth quarter of fiscal 2013.
Sales for fiscal year 2013 were $166.8 million and GAAP loss per share was $0.31. On a Non-GAAP basis, income per share was $0.02 in fiscal 2013.
Things are looking good, according to Gerry Perkel, Planar president and CEO, who says that Q4 showed an improvement in the company’s top and bottom line performance, which included a new high point for quarterly sales of digital signage products.
“In addition,” he says, “we were able to achieve our goal of Non-GAAP profitability for fiscal year 2013 and, as a result, I believe we are well positioned to continue to improve our performance as we enter fiscal year 2014.”
Planar achieved record quarterly sales of digital signage products totaling $17.7 million in Q4 2013, representing 30% growth compared with the fourth fiscal quarter of 2012. The company launched the Planar Simplicity Series line of digital signage monitors which incorporate media playing and commercial-grade features into a sleek and affordable digital signage solution.
Planar achieved record annual sales of digital signage products for fiscal year 2013 of $62.1 million, representing 42% growth compared with fiscal year 2012.
The company’s total revenue increased 10% compared to the fourth quarter of fiscal 2012. Planar had sold the assets comprising its Electroluminescent product line during the first quarter of fiscal 2013. Excluding revenue associated with EL products, the Company’s total revenue increased 24% compared with the fourth quarter of fiscal 2012.
The Company’s consolidated gross profit margin, as a percentage of sales, was 22.4% in the fourth quarter of 2013, up from 17.3% in Q4, 2012.
The company’s goals for fiscal year 2014, are to continue to grow sales of digital signage products in an effort to drive overall revenue growth for the Company and improved profitability. As a result, the Company currently anticipates revenue in the range of $41-43 million and Non-GAAP income per share of $0.02 to $0.04 in the first fiscal quarter of 2014. For the full fiscal year, the Company expects revenue in the range of $170-180 million and Non-GAAP income per share of $0.10 to $0.15.
Planar video walls, large format LCD displays, interactive touch screen monitors and many other solutions are used by the world’s leading organizations in applications ranging from digital signage to simulation and from interactive kiosks to large-scale data visualization.
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