Gail Chiasson, North American Editor
Planar Systems Inc., Beaverton, Oregon-based provider of display and digital signage technology, has engaged Liolios Group of Newport Beach, California, to lead a new strategic investor relations and financial communications program.
“In order to drive long-term growth and profitability, over the last year we have transitioned Planar to better address higher-growth end markets like digital signage,” says Gerry Perkel, Planar president and CEO. “Our success with the strategy was reflected in a 53% increase in sales of our digital signage products in Q3 2014, (to $21.4 million) when compared with the same quarter of fiscal 2013, along with expanding gross margins. As a result of the strong third quarter, coupled with a favorable outlook for the fourth quarter, we recently increased our estimates for revenue and non-GAAP E PS for the full year.
“In light of this progress and positive momentum, we believe our shareholders would benefit from a team of experienced investor relations professionals that would help us strengthen communications with investors and increase awareness of our story in the financial community. Liolios Group brings a solid track record of helping growth companies like ours enhance shareholder value by delivering the right message to the right audience, and building high-quality, long-term relationships in the investment community.”
Liolios Group will work closely with Planar management to develop and deploy a comprehensive capital markets strategy and campaign. The campaign will include effective messaging and corporate positioning, as well as introductions to investors and key influencers in the financial community. It will also include scheduling road shows and financial conferences for management over the next several months.
In releasing its Q3 information at the end of July, Planar had said that, looking forward, the Company currently expects to see continued strong revenue for digital signage and custom C&I products in the fourth fiscal quarter of 2014, and therefore anticipates revenue in the range of $48 million to $50 million. As a result, the Company has raised its estimates for the full fiscal year 2014, and currently expects revenue in the range of $173.4 million to $175.4 million.
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