10-Q Filing

PLANAR SYSTEMS INC CIK: 722392 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-352762`
Period End Date	20120630
Filing Date	20120813
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	plnr-20120629.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 74 Cash Flow Statement 51

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.62M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$633.00K	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`	$16.25M	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
Cash	`Cash`	$23.39M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	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 $633 at June 29, 2012 and $1,622 at September 30, 2011	`AccountsReceivableNetCurrent`	$21.90M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $633 at June 29, 2012 and $1,622 at September 30, 2011	`AccountsReceivableNetCurrent`	$25.88M	USD	Point-in-time
Inventories (Note 2)	`InventoryNet`	$42.97M	USD	Point-in-time
Inventories (Note 2)	`InventoryNet`	$36.81M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$4.59M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.99M	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`	$77.94M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	20.23M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$95.67M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.26M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.60M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.26M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$735.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.83M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.11M	USD	Point-in-time
Assets, Total	`Assets`	$105.30M	USD	Point-in-time
Assets, Total	`Assets`	$88.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.55M	USD	Point-in-time
Current portion of capital leases	`CapitalLeaseObligationsCurrent`	$219.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.95M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.34M	USD	Point-in-time
Other current liabilities (Notes 5 and 6)	`OtherLiabilitiesCurrent`	$18.48M	USD	Point-in-time
Other current liabilities (Notes 5 and 6)	`OtherLiabilitiesCurrent`	$16.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.17M	USD	Point-in-time
Long-term portion of capital leases	`CapitalLeaseObligationsNoncurrent`	$327.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$6.27M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.17M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.66M	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; 20,234,072 and 19,758,400 issued shares at June 29, 2012 and September 30, 2011, respectively	`CommonStockValue`	$184.02M	USD	Point-in-time
Common stock, no par value. Authorized 30,000,000 shares; 20,234,072 and 19,758,400 issued shares at June 29, 2012 and September 30, 2011, respectively	`CommonStockValue`	$182.83M	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-130.04M	USD	Point-in-time
Retained earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-118.10M	USD	Point-in-time
Accumulated other comprehensive income (loss) (Note 8)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.52M	USD	Point-in-time
Accumulated other comprehensive income (loss) (Note 8)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.07M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$62.66M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$50.46M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$88.12M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$105.30M	USD	Point-in-time

Income Statement 74 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$135.38M	USD	3 Qtrs
Sales	`SalesRevenueNet`	$45.66M	USD	1 Quarter
Sales	`SalesRevenueNet`	$129.95M	USD	3 Qtrs
Sales	`SalesRevenueNet`	$44.70M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$96.91M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$102.43M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$34.90M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$32.84M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.82M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.81M	USD	1 Quarter
Gross profit	`GrossProfit`	$27.53M	USD	3 Qtrs
Gross profit	`GrossProfit`	$38.47M	USD	3 Qtrs
Research and development, net	`ResearchAndDevelopmentExpense`	$7.97M	USD	3 Qtrs
Research and development, net	`ResearchAndDevelopmentExpense`	$7.80M	USD	3 Qtrs
Research and development, net	`ResearchAndDevelopmentExpense`	$2.78M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$2.32M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$18.89M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$6.02M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$19.66M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$6.89M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.20M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.64M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.17M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$10.95M	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.54M	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$525.00K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$175.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$512.00K	USD	1 Quarter
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	$518.00K	USD	2 Qtrs
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	$518.00K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$41.03M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$39.46M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$11.68M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$14.38M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.87M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.56M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-11.93M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.56M	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$23.00K	USD	3 Qtrs
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$1.00K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$9.00K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$7.00K	USD	3 Qtrs
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$523.00K	USD	3 Qtrs
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-208.00K	USD	1 Quarter
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-830.00K	USD	3 Qtrs
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$260.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$129.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$222.00K	USD	3 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-10.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$450.00K	USD	3 Qtrs
Net non-operating income (expense)	`NonoperatingIncomeExpense`	$-209.00K	USD	1 Quarter
Net non-operating income (expense)	`NonoperatingIncomeExpense`	$390.00K	USD	1 Quarter
Net non-operating income (expense)	`NonoperatingIncomeExpense`	$980.00K	USD	3 Qtrs
Net non-operating income (expense)	`NonoperatingIncomeExpense`	$-585.00K	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.15M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.48M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.95M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.77M	USD	1 Quarter
Provision for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$212.00K	USD	1 Quarter
Provision for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$604.00K	USD	3 Qtrs
Provision for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$127.00K	USD	1 Quarter
Provision for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$146.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.30M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-11.55M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.58	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.17	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Average shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.51M	shares	1 Quarter
Average shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.02M	shares	3 Qtrs
Average shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.36M	shares	3 Qtrs
Average shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.22M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.30M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-11.55M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.12M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.14M	USD	3 Qtrs
Impairment and restructuring charges	`RestructuringCostsAndAssetImpairmentCharges`	$518.00K	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$199.00K	USD	3 Qtrs
Share based compensation	`ShareBasedCompensation`	$1.06M	USD	3 Qtrs
Share based compensation	`ShareBasedCompensation`	$1.59M	USD	3 Qtrs
Lease incentives	`ProceedsFromOtherOperatingActivities`	$151.00K	USD	3 Qtrs
Decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-3.50M	USD	3 Qtrs
Decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-2.27M	USD	3 Qtrs
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$11.99M	USD	3 Qtrs
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$-5.56M	USD	3 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.15M	USD	3 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-716.00K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.63M	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.04M	USD	3 Qtrs
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$517.00K	USD	3 Qtrs
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-316.00K	USD	3 Qtrs
Decrease in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.15M	USD	3 Qtrs
Decrease in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-2.59M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.44M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.67M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.69M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.26M	USD	3 Qtrs
Purchase of leasehold improvements reimbursed by landlord	`PaymentsForProceedsFromOtherInvestingActivities`	$151.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.84M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.26M	USD	3 Qtrs
Proceeds from capital lease	`ProceedsFromLongTermCapitalLeaseObligations`	$459.00K	USD	3 Qtrs
Payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$80.00K	USD	3 Qtrs
Payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$4.00K	USD	3 Qtrs
Value of shares withheld for tax liability	`PaymentsForRepurchaseOfCommonStockForEmployeeTaxWithholdingObligations`	$380.00K	USD	3 Qtrs
Value of shares withheld for tax liability	`PaymentsForRepurchaseOfCommonStockForEmployeeTaxWithholdingObligations`	$386.00K	USD	3 Qtrs
Net proceeds from issuance of capital stock	`ProceedsFromIssuanceOrSaleOfEquity`	$164.00K	USD	3 Qtrs
Net proceeds from issuance of capital stock	`ProceedsFromIssuanceOrSaleOfEquity`	$130.00K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$123.00K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-220.00K	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-599.00K	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$609.00K	USD	3 Qtrs
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-8.32M	USD	3 Qtrs
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-5.98M	USD	3 Qtrs
Cash at beginning of period	`Cash`	$16.25M	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 beginning of period	`Cash`	$23.39M	USD	Point-in-time
Cash at end of period	`Cash`	$22.23M	USD	Point-in-time
Cash at end of period	`Cash`	$16.25M	USD	Point-in-time
Cash at end of period	`Cash`	$31.71M	USD	Point-in-time
Cash at end of period	`Cash`	$23.39M	USD	Point-in-time

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