This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Planar Announces Fiscal Third Quarter 2012 Financial Results

The Company’s consolidated gross profit margin (on a Non-GAAP basis) was 22.0 percent in the third quarter of 2012, down from 28.1 percent in the third quarter of 2011 (see reconciliation table). The decrease in gross profit margin, as a percent of sales, from the previous year was primarily due to the under-absorption of expenses in certain production areas with a relatively higher fixed cost basis, such as EL product facilities, and an unfavorable product mix with a greater proportion of total revenue derived from sales of relatively lower margin products such as desktop monitors.

Total operating expenses (on a Non-GAAP basis) for the third quarter of 2012 decreased $2.1 million, or 16 percent, to $11.1 million compared with the same quarter a year ago, as expenses declined in all functions as a result of cost reduction measures implemented early in the third quarter of 2012.

The Company’s cash balance increased $1.1 million sequentially to $16.2 million at the end of the third quarter compared to the end of the second quarter of fiscal 2012. The increase in cash was primarily caused by a $7 million reduction in inventory, partially offset by an increase in accounts receivable associated with sequential revenue growth and a reduction in accounts payable.

BUSINESS OUTLOOK

Looking forward, the Company continues to see opportunities to grow sales of digital signage products by accessing new customers and expanding relationships with existing customers as well as by adding new products to the digital signage portfolio such as Planar Mosaic, Planar LookThru, and Planar UltraLux.

For the fourth quarter of fiscal 2012, the Company expects continued revenue growth in sales of digital signage products and a reduction in sales of commercial and industrial products on a year over year basis. As a result, for the fourth fiscal quarter of 2012 the Company currently anticipates similar revenue, gross profit margins, levels of operating expenses and profits compared with the third fiscal quarter of 2012.

2 of 5

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs