10-Q Filing

PLANAR SYSTEMS INC CIK: 722392 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-210758`
Period End Date	20120331
Filing Date	20120504
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	plnr-20120330.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 82 Cash Flow Statement 49

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.07M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.62M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`Cash`	$15.12M	USD	Point-in-time
Cash	`Cash`	$31.71M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$22.23M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$27.63M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,068 at March 30, 2012 and $1,622 at September 30, 2011	`AccountsReceivableNetCurrent`	$20.32M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,068 at March 30, 2012 and $1,622 at September 30, 2011	`AccountsReceivableNetCurrent`	$25.88M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Inventories (Note 2)	`InventoryNet`	$42.97M	USD	Point-in-time
Inventories (Note 2)	`InventoryNet`	$43.73M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.48M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$4.59M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	19.76M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$95.67M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	20.12M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$82.65M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.01M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.26M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$911.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.26M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.11M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.90M	USD	Point-in-time
Assets, Total	`Assets`	$105.30M	USD	Point-in-time
Assets, Total	`Assets`	$92.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.53M	USD	Point-in-time
Current portion of capital leases	`CapitalLeaseObligationsCurrent`	$188.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.75M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.34M	USD	Point-in-time
Other current liabilities (Notes 5 and 6)	`OtherLiabilitiesCurrent`	$16.93M	USD	Point-in-time
Other current liabilities (Notes 5 and 6)	`OtherLiabilitiesCurrent`	$18.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.39M	USD	Point-in-time
Long-term portion of capital leases	`CapitalLeaseObligationsNoncurrent`	$271.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.30M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$6.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$39.97M	USD	Point-in-time
Total liabilities	`Liabilities`	$42.64M	USD	Point-in-time
Preferred stock, $0.01 par value, authorized 10,000,000 shares, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, authorized 10,000,000 shares, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par value. Authorized 30,000,000 shares; 20,118,026 and 19,758,400 issued shares at March 30, 2012 and September 30, 2011, respectively	`CommonStockValue`	$182.83M	USD	Point-in-time
Common stock, no par value. Authorized 30,000,000 shares; 20,118,026 and 19,758,400 issued shares at March 30, 2012 and September 30, 2011, respectively	`CommonStockValue`	$183.48M	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-118.10M	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-128.31M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.67M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.07M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$52.51M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$62.66M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$105.30M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$92.47M	USD	Point-in-time

Income Statement 82 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$47.96M	USD	1 Quarter
Sales	`SalesRevenueNet`	$89.72M	USD	2 Qtrs
Sales	`SalesRevenueNet`	$85.25M	USD	2 Qtrs
Sales	`SalesRevenueNet`	$37.54M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$33.97M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$67.53M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$30.34M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$64.08M	USD	2 Qtrs
Gross profit	`GrossProfit`	$17.72M	USD	2 Qtrs
Gross profit	`GrossProfit`	$13.98M	USD	1 Quarter
Gross profit	`GrossProfit`	$25.64M	USD	2 Qtrs
Gross profit	`GrossProfit`	$7.21M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$5.49M	USD	2 Qtrs
Research and development, net	`ResearchAndDevelopmentExpense`	$5.19M	USD	2 Qtrs
Research and development, net	`ResearchAndDevelopmentExpense`	$2.42M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$2.77M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$13.64M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$6.71M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$6.50M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$12.00M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.21M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.70M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.44M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$7.78M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$175.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.02M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$350.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$512.00K	USD	1 Quarter
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	$518.00K	USD	1 Quarter
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	$518.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$13.87M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.65M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$27.78M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$26.65M	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$337.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-6.66M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-1.00M	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-10.06M	USD	2 Qtrs
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$6.00K	USD	2 Qtrs
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$14.00K	USD	2 Qtrs
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$6.00K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$16.00K	USD	1 Quarter
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-694.00K	USD	1 Quarter
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-622.00K	USD	2 Qtrs
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$263.00K	USD	2 Qtrs
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-163.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$232.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$279.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$321.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$164.00K	USD	1 Quarter
Net non-operating income (expense)	`NonoperatingIncomeExpense`	$-376.00K	USD	2 Qtrs
Net non-operating income (expense)	`NonoperatingIncomeExpense`	$590.00K	USD	2 Qtrs
Net non-operating income (expense)	`NonoperatingIncomeExpense`	$-514.00K	USD	1 Quarter
Net non-operating income (expense)	`NonoperatingIncomeExpense`	$122.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-177.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.54M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.38M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.47M	USD	2 Qtrs
Provision (benefit) for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$-81.00K	USD	1 Quarter
Provision (benefit) for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$19.00K	USD	2 Qtrs
Provision (benefit) for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$127.00K	USD	1 Quarter
Provision (benefit) for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$392.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-9.86M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-6.67M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.40M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-96.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.49	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.33	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.07	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.49	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.07	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.33	USD	1 Quarter
Average shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	19.36M	shares	1 Quarter
Average shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	19.29M	shares	2 Qtrs
Average shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	19.93M	shares	2 Qtrs
Average shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.03M	shares	1 Quarter
Average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.93M	shares	2 Qtrs
Average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.03M	shares	1 Quarter
Average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.29M	shares	2 Qtrs
Average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.36M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.86M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-6.67M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.40M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-96.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.10M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.44M	USD	2 Qtrs
Restructuring charges	`RestructuringCostsAndAssetImpairmentCharges`	$518.00K	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$199.00K	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$653.00K	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$889.00K	USD	2 Qtrs
Lease incenctives	`ProceedsFromOtherOperatingActivities`	$151.00K	USD	2 Qtrs
Decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-5.38M	USD	2 Qtrs
Decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-1.69M	USD	2 Qtrs
Increase in inventories	`IncreaseDecreaseInInventories`	$994.00K	USD	2 Qtrs
Increase in inventories	`IncreaseDecreaseInInventories`	$7.11M	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-190.00K	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$974.00K	USD	2 Qtrs
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$24.00K	USD	2 Qtrs
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.49M	USD	2 Qtrs
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-567.00K	USD	2 Qtrs
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$279.00K	USD	2 Qtrs
Decrease in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-2.32M	USD	2 Qtrs
Decrease in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-2.61M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.18M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.64M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$833.00K	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.60M	USD	2 Qtrs
Purchase of leasehold improvements reimbursed by landlord	`PaymentsForProceedsFromOtherInvestingActivities`	$151.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.75M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-833.00K	USD	2 Qtrs
Proceeds from capital lease	`ProceedsFromLongTermCapitalLeaseObligations`	$459.00K	USD	2 Qtrs
Payments of long-term debt and capital lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$4.00K	USD	2 Qtrs
Value of shares withheld for tax liability	`SharesWithheldForEmployeeTaxes`	$349.00K	USD	2 Qtrs
Value of shares withheld for tax liability	`SharesWithheldForEmployeeTaxes`	$214.00K	USD	2 Qtrs
Net proceeds from issuance of capital stock	`ProceedsFromIssuanceOrSaleOfEquity`	$164.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-54.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$110.00K	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-288.00K	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$448.00K	USD	2 Qtrs
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-4.08M	USD	2 Qtrs
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-7.11M	USD	2 Qtrs
Cash at beginning of period	`Cash`	$27.63M	USD	Point-in-time
Cash at beginning of period	`Cash`	$15.12M	USD	Point-in-time
Cash at beginning of period	`Cash`	$31.71M	USD	Point-in-time
Cash at beginning of period	`Cash`	$22.23M	USD	Point-in-time
Cash at end of period	`Cash`	$31.71M	USD	Point-in-time
Cash at end of period	`Cash`	$22.23M	USD	Point-in-time
Cash at end of period	`Cash`	$15.12M	USD	Point-in-time
Cash at end of period	`Cash`	$27.63M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.