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Planar Systems' CEO Discusses F1Q12 Results - Earnings Call Transcript

Stocks in this article: PLNR

As we move forward, you will hear us describe the rest of our product lines broadly as our commercial and industrial products. This product grouping represents approximately three quarters of our revenue today, has made up of several product lines, some of which are more mature and some of which offer growth opportunities.

In the first quarter, our commercial and industrial product lines in total delivered 3% and total $36.8 million, most of the product lines within this category group, for instance, compared to the first quarter a year ago our rear-projection cube revenues grew approximately 17%, our desktop monitor revenues grew approximately 16%, our touch monitor revenues grew approximately 10% and our custom developed industrial products grew approximately 28%, and our Runco high-end home theater products grew about 2%.

Unfortunately, those positive results were offset by a 25% decline in our EL product sales along with the reductions in some small product lines that we are in the process of discontinuing.

Our goal with this commercial and industrial product line is to capitalize on growth opportunities we see and to limit our investment level there, so we can fund the growth of the digital signage opportunities we see.

As we look forward, we do see growth opportunities for several of these product lines, but in total we expect to see single-digit growth in this area for FY ’12 as the more mature areas may tend to offset growth in other areas.

We’ve captured a number of new design wins recently for our custom AMLCD business for ruggedized military applications. We expect this to begin production in the second half of FY ’12 and in FY ’13, and these new customers as they move into production do offer opportunities for growth.

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