10-Q Filing

PLANAR SYSTEMS INC CIK: 722392 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-216676`
Period End Date	20130331
Filing Date	20130513
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	plnr-20130329.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 79 Cash Flow Statement 58 Comprehensive Income 12

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$448.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$535.00K	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`	$12.91M	USD	Point-in-time
Cash	`Cash`	$17.77M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$15.12M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$22.23M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $448 at March 29, 2013 and $535 at September 28, 2012	`AccountsReceivableNetCurrent`	$18.82M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $448 at March 29, 2013 and $535 at September 28, 2012	`AccountsReceivableNetCurrent`	$18.60M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Inventories (Note 2)	`InventoryNet`	$29.87M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Inventories (Note 2)	`InventoryNet`	$31.98M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.83M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.95M	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`	20.35M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$64.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$71.19M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	20.73M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$3.55M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.95M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$565.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$270.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.58M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.08M	USD	Point-in-time
Assets, Total	`Assets`	$77.85M	USD	Point-in-time
Assets, Total	`Assets`	$81.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.69M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.46M	USD	Point-in-time
Current portion of capital leases	`CapitalLeaseObligationsCurrent`	$449.00K	USD	Point-in-time
Current portion of capital leases	`CapitalLeaseObligationsCurrent`	$759.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.66M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.62M	USD	Point-in-time
Other current liabilities (Notes 5 and 6)	`OtherLiabilitiesCurrent`	$15.91M	USD	Point-in-time
Other current liabilities (Notes 5 and 6)	`OtherLiabilitiesCurrent`	$12.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.71M	USD	Point-in-time
Capital leases, less current portion	`CapitalLeaseObligationsNoncurrent`	$807.00K	USD	Point-in-time
Capital leases, less current portion	`CapitalLeaseObligationsNoncurrent`	$545.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.11M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.67M	USD	Point-in-time
Total liabilities	`Liabilities`	$35.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.40M	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; 20,732,561 and 20,354,300 issued shares at March 29, 2013 and September 28, 2012, respectively	`CommonStockValue`	$184.56M	USD	Point-in-time
Common stock, no par value. Authorized 30,000,000 shares; 20,732,561 and 20,354,300 issued shares at March 29, 2013 and September 28, 2012, respectively	`CommonStockValue`	$185.53M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-134.75M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-137.72M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.36M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$46.52M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$44.46M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$81.88M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$77.85M	USD	Point-in-time

Income Statement 79 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$85.25M	USD	2 Qtrs
Sales	`SalesRevenueNet`	$83.62M	USD	2 Qtrs
Sales	`SalesRevenueNet`	$37.54M	USD	1 Quarter
Sales	`SalesRevenueNet`	$39.44M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$64.59M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$31.43M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$30.34M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$67.53M	USD	2 Qtrs
Gross profit	`GrossProfit`	$8.01M	USD	1 Quarter
Gross profit	`GrossProfit`	$19.02M	USD	2 Qtrs
Gross profit	`GrossProfit`	$7.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$17.72M	USD	2 Qtrs
Research and development, net	`ResearchAndDevelopmentExpense`	$1.83M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$5.49M	USD	2 Qtrs
Research and development, net	`ResearchAndDevelopmentExpense`	$2.77M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$3.85M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$10.10M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$13.64M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$6.71M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.04M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.70M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.78M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$6.33M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.91M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$148.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$295.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$175.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$350.00K	USD	2 Qtrs
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	$194.00K	USD	2 Qtrs
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	$518.00K	USD	2 Qtrs
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	$194.00K	USD	1 Quarter
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	$518.00K	USD	1 Quarter
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	-	USD	1 Quarter
Loss (gain) on sale of assets (Note 9)	`GainLossOnSaleOfOtherAssets`	$-1.31M	USD	2 Qtrs
Loss (gain) on sale of assets (Note 9)	`GainLossOnSaleOfOtherAssets`	$177.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$27.78M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$13.87M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$22.09M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$9.76M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-10.06M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.66M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.74M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.07M	USD	2 Qtrs
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$6.00K	USD	2 Qtrs
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$6.00K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$65.00K	USD	2 Qtrs
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$48.00K	USD	1 Quarter
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-163.00K	USD	1 Quarter
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-13.00K	USD	2 Qtrs
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$263.00K	USD	2 Qtrs
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$95.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$296.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$181.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$279.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$321.00K	USD	2 Qtrs
Net non-operating income	`NonoperatingIncomeExpense`	$348.00K	USD	2 Qtrs
Net non-operating income	`NonoperatingIncomeExpense`	$590.00K	USD	2 Qtrs
Net non-operating income	`NonoperatingIncomeExpense`	$122.00K	USD	1 Quarter
Net non-operating income	`NonoperatingIncomeExpense`	$324.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.72M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.42M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.54M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.47M	USD	2 Qtrs
Provision (benefit) for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$392.00K	USD	2 Qtrs
Provision (benefit) for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$43.00K	USD	2 Qtrs
Provision (benefit) for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$-140.00K	USD	1 Quarter
Provision (benefit) for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$127.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.67M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.86M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.76M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.28M	USD	1 Quarter
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.49	USD	2 Qtrs
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	1 Quarter
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	2 Qtrs
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Average shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.93M	shares	2 Qtrs
Average shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.56M	shares	2 Qtrs
Average shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.64M	shares	1 Quarter
Average shares outstanding-basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.03M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.67M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.86M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.76M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.28M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.44M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$980.00K	USD	2 Qtrs
Restructuring charges	`RestructuringSettlementAndImpairmentProvisions`	$518.00K	USD	2 Qtrs
Restructuring charges	`RestructuringSettlementAndImpairmentProvisions`	$194.00K	USD	1 Quarter
Restructuring charges	`RestructuringSettlementAndImpairmentProvisions`	$518.00K	USD	1 Quarter
Restructuring charges	`RestructuringSettlementAndImpairmentProvisions`	$194.00K	USD	2 Qtrs
Restructuring charges	`RestructuringSettlementAndImpairmentProvisions`	-	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$199.00K	USD	2 Qtrs
Loss on sale of assets	`GainLossOnSaleOfOtherAssets`	$-1.31M	USD	2 Qtrs
Loss on sale of assets	`GainLossOnSaleOfOtherAssets`	$177.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$869.00K	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$653.00K	USD	2 Qtrs
Net reduction in carrying amounts of certain assets and liabilities	`OtherNoncashIncomeExpense`	$491.00K	USD	2 Qtrs
Lease incentives	`ProceedsFromOtherOperatingActivities`	$151.00K	USD	2 Qtrs
(Increase) decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-5.38M	USD	2 Qtrs
(Increase) decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.84M	USD	2 Qtrs
Increase in inventories	`IncreaseDecreaseInInventories`	$994.00K	USD	2 Qtrs
Increase in inventories	`IncreaseDecreaseInInventories`	$4.63M	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$270.00K	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-190.00K	USD	2 Qtrs
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$24.00K	USD	2 Qtrs
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.21M	USD	2 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-567.00K	USD	2 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-37.00K	USD	2 Qtrs
Decrease in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-2.32M	USD	2 Qtrs
Decrease in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-2.90M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.18M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.36M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.60M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.06M	USD	2 Qtrs
Purchase of leasehold improvements reimbursed by landlord	`PaymentsForProceedsFromOtherInvestingActivities`	$151.00K	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfNetAssetsAndLiabilitiesCash`	$4.14M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.09M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.75M	USD	2 Qtrs
Proceeds from capital lease	`ProceedsFromLongTermCapitalLeaseObligations`	$459.00K	USD	2 Qtrs
Proceeds from capital lease	`ProceedsFromLongTermCapitalLeaseObligations`	$1.02M	USD	2 Qtrs
Payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$445.00K	USD	2 Qtrs
Value of shares withheld for tax liability	`PaymentsForRepurchaseOfCommonStockForEmployeeTaxWithholdingObligations`	$205.00K	USD	2 Qtrs
Value of shares withheld for tax liability	`PaymentsForRepurchaseOfCommonStockForEmployeeTaxWithholdingObligations`	$349.00K	USD	2 Qtrs
Net proceeds from issuance of capital stock	`ProceedsFromIssuanceOrSaleOfEquity`	$104.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$471.00K	USD	2 Qtrs
Net cash provided by 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`	$-60.00K	USD	2 Qtrs
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-4.85M	USD	2 Qtrs
Net decrease in cash	`CashPeriodIncreaseDecrease`	$-7.11M	USD	2 Qtrs
Cash at beginning of period	`Cash`	$12.91M	USD	Point-in-time
Cash at beginning of period	`Cash`	$17.77M	USD	Point-in-time
Cash at beginning of period	`Cash`	$15.12M	USD	Point-in-time
Cash at beginning of period	`Cash`	$22.23M	USD	Point-in-time
Cash at end of period	`Cash`	$12.91M	USD	Point-in-time
Cash at end of period	`Cash`	$17.77M	USD	Point-in-time
Cash at end of period	`Cash`	$15.12M	USD	Point-in-time
Cash at end of period	`Cash`	$22.23M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.67M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.86M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.76M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.28M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-433.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-596.00K	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$516.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-71.00K	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.71M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.15M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-10.46M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.83M	USD	2 Qtrs

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