This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Planar Systems Inc.'s CEO Discusses F3Q11 Results Earnings Call Transcript

The forward-looking statements we make today speak only as of today and we do not undertake any obligation to update any such statements to reflect events or circumstances occurring after today.

With that behind us, let me say that while our overall revenue growth was a bit lower than we expected, I am pleased with the continued progress we have made in growing sales of our Digital Signage products.

Overall, revenue came in at $45.7 million, slightly below the low end of our guidance range and represented 2% growth when compared with the third quarter of 2010. However, sales of Digital Signage products increased 35% compared with the same period a year ago.

Sales of Digital Signage products were fueled by continued strong demand for our Matrix LCD Video Wall products, which more then tripled compared with the third quarter a year ago. Non-GAAP earnings per share also came in slightly below our guidance estimate finishing at a loss of $0.01.

Let me now talk a bit about the various product lines in our business. In our Custom and Embedded product line, the third quarter of fiscal 2011 was not a strong as we had expected, as we experience some softening of demand from some of our ongoing OEM customers as the quarter progressed.

Sales of our Custom and Embedded products for the third quarter were $13.2 million, which represented a decline of 17% compared with the third quarter last year. While we see some of the conditions continuing over the next few quarters, we do currently expect to see growth in our Custom and Embedded product line next fiscal year compared with this year.

We also saw a weaker then expected quarter in our Enterprise IT product line. As the quarter progressed, demand for desktop monitor softened and while we did experienced some modest growth in our touch monitor products, it was enough to make up for the slowdown in desktop monitors. We believe this slowdown occurred broadly across the entire industry in our reseller channels.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs