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 Announces Sale Of Electroluminescent (EL) Business To Beneq

Planar Systems, Inc. (NASDAQ: PLNR), a worldwide leader in specialty display solutions, announced the sale of its electroluminescent (EL) display business to Beneq Oy, a supplier of production and research equipment for advanced thin film coatings. Under the terms of the transaction, consideration consists of a $6.5 million base purchase price, of which $3.9 million was paid in cash at closing and $2.6 million was paid in the form of a promissory note. The transaction terms also provide for up to $3.5 million in possible additional cash consideration which can be earned in calendar years 2013, 2014, 2015 based upon the EL business achieving certain financial results.

“The sale of our EL business to Beneq represents an important milestone in the execution of our strategic plan,” said Gerry Perkel, president and CEO of Planar. “We were able to add cash to our balance sheet and are now able to focus more of our attention and resources on our digital signage and interactive display product lines. In addition, we believe EL customers and employees will benefit from having the EL business now under the direction of a recognized leader in the use of atomic layer deposition (ALD) technology, a critical component of EL display production.” The Company will be working with Beneq after the closing to ensure customers are fully supported in the transition.


As a result of the sale of the EL business, the Company is updating its forward looking estimates for the first quarter of fiscal 2013. The Company currently anticipates revenue in the range of $41 to $44 million and a Non-GAAP loss of $0.05 to a Non-GAAP profit of $0.01 in the first quarter of 2013, excluding the gain or loss recorded on the sale of the EL business.

1 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
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs