10-Q Filing

PLANAR SYSTEMS INC CIK: 722392 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193125-15-179193`
Period End Date	20150331
Filing Date	20150508
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	plnr-20150327.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 80 Cash Flow Statement 51 Comprehensive Income 16

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$469.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$330.00K	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`	$16.18M	USD	Point-in-time
Cash	`Cash`	$11.97M	USD	Point-in-time
Cash	`Cash`	$13.07M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$13.00M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $330 at Mar. 27, 2015 and $469 at Sept. 26, 2014	`AccountsReceivableNetCurrent`	$28.33M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $330 at Mar. 27, 2015 and $469 at Sept. 26, 2014	`AccountsReceivableNetCurrent`	$24.34M	USD	Point-in-time
Inventories (Note 2)	`InventoryNet`	$31.23M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Inventories (Note 2)	`InventoryNet`	$26.80M	USD	Point-in-time
Other current assets (Note 9)	`OtherAssetsCurrent`	$5.04M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Other current assets (Note 9)	`OtherAssetsCurrent`	$3.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$72.11M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	21.68M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	22.20M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$76.79M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.47M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.04M	USD	Point-in-time
Other assets (Note 9)	`OtherAssetsNoncurrent`	$7.25M	USD	Point-in-time
Other assets (Note 9)	`OtherAssetsNoncurrent`	$4.87M	USD	Point-in-time
Assets, Total	`Assets`	$86.12M	USD	Point-in-time
Assets, Total	`Assets`	$84.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.18M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.47M	USD	Point-in-time
Current portion of capital leases	`CapitalLeaseObligationsCurrent`	$42.00K	USD	Point-in-time
Current portion of capital leases	`CapitalLeaseObligationsCurrent`	$394.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.64M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.48M	USD	Point-in-time
Other current liabilities (Notes 5 and 6)	`OtherLiabilitiesCurrent`	$12.97M	USD	Point-in-time
Other current liabilities (Notes 5 and 6)	`OtherLiabilitiesCurrent`	$10.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.86M	USD	Point-in-time
Other long-term liabilities (Note 5)	`OtherLiabilitiesNoncurrent`	$5.19M	USD	Point-in-time
Other long-term liabilities (Note 5)	`OtherLiabilitiesNoncurrent`	$4.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$38.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.34M	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 60,000,000 shares; 22,200,750 and 21,680,975 issued shares at March 27, 2015 and September 26, 2014, respectively	`CommonStockValue`	$188.13M	USD	Point-in-time
Common stock, no par value. Authorized 60,000,000 shares; 22,200,750 and 21,680,975 issued shares at March 27, 2015 and September 26, 2014, respectively	`CommonStockValue`	$189.89M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-138.51M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-135.32M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.58M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.79M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$48.78M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$46.03M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$86.12M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$84.40M	USD	Point-in-time

Income Statement 80 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$104.95M	USD	2 Qtrs
Sales	`SalesRevenueNet`	$41.08M	USD	1 Quarter
Sales	`SalesRevenueNet`	$49.17M	USD	1 Quarter
Sales	`SalesRevenueNet`	$81.53M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$36.95M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$31.41M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$62.14M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$78.32M	USD	2 Qtrs
Gross profit	`GrossProfit`	$26.63M	USD	2 Qtrs
Gross profit	`GrossProfit`	$19.39M	USD	2 Qtrs
Gross profit	`GrossProfit`	$9.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.22M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$1.47M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$1.61M	USD	1 Quarter
Research and development, net	`ResearchAndDevelopmentExpense`	$2.71M	USD	2 Qtrs
Research and development, net	`ResearchAndDevelopmentExpense`	$3.24M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$5.05M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$9.73M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$6.17M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$12.26M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.19M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.72M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.71M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$6.46M	USD	2 Qtrs
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	$21.00K	USD	2 Qtrs
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	$53.00K	USD	2 Qtrs
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	$10.00K	USD	1 Quarter
Restructuring (Note 5)	`RestructuringSettlementAndImpairmentProvisions`	$43.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.72M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$23.25M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$18.92M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$11.54M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$683.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-59.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$478.00K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$3.37M	USD	2 Qtrs
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$82.00K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$273.00K	USD	2 Qtrs
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$135.00K	USD	2 Qtrs
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$134.00K	USD	1 Quarter
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-10.00K	USD	1 Quarter
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$855.00K	USD	2 Qtrs
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-53.00K	USD	2 Qtrs
Foreign exchange, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$587.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$274.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$449.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$170.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$66.00K	USD	1 Quarter
Net non-operating income	`NonoperatingIncomeExpense`	$531.00K	USD	2 Qtrs
Net non-operating income	`NonoperatingIncomeExpense`	$346.00K	USD	1 Quarter
Net non-operating income	`NonoperatingIncomeExpense`	$787.00K	USD	1 Quarter
Net non-operating income	`NonoperatingIncomeExpense`	$1.30M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$287.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.47M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.01M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.67M	USD	2 Qtrs
Provision (benefit) for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$-142.00K	USD	1 Quarter
Provision (benefit) for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$59.00K	USD	1 Quarter
Provision (benefit) for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$-29.00K	USD	2 Qtrs
Provision (benefit) for income taxes (Note 7)	`IncomeTaxExpenseBenefit`	$151.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.61M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.70M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$858.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$228.00K	USD	1 Quarter
Basic (Note 3)	`EarningsPerShareBasic`	$0.04	USD	2 Qtrs
Basic (Note 3)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic (Note 3)	`EarningsPerShareBasic`	$0.21	USD	2 Qtrs
Basic (Note 3)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Diluted (Note 3)	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted (Note 3)	`EarningsPerShareDiluted`	$0.04	USD	2 Qtrs
Diluted (Note 3)	`EarningsPerShareDiluted`	$0.21	USD	2 Qtrs
Diluted (Note 3)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Average shares outstanding-basic (Note 3)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.91M	shares	2 Qtrs
Average shares outstanding-basic (Note 3)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.21M	shares	2 Qtrs
Average shares outstanding-basic (Note 3)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.30M	shares	1 Quarter
Average shares outstanding-basic (Note 3)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.05M	shares	1 Quarter
Average shares outstanding-diluted (Note 3)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.42M	shares	2 Qtrs
Average shares outstanding-diluted (Note 3)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.46M	shares	1 Quarter
Average shares outstanding-diluted (Note 3)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.32M	shares	2 Qtrs
Average shares outstanding-diluted (Note 3)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.39M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.61M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.70M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$858.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$228.00K	USD	1 Quarter
Depreciation	`Depreciation`	$809.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$915.00K	USD	2 Qtrs
Restructuring charges	`RestructuringSettlementAndImpairmentProvisions`	$53.00K	USD	2 Qtrs
Restructuring charges	`RestructuringSettlementAndImpairmentProvisions`	$10.00K	USD	1 Quarter
Restructuring charges	`RestructuringSettlementAndImpairmentProvisions`	$43.00K	USD	1 Quarter
Restructuring charges	`RestructuringSettlementAndImpairmentProvisions`	$21.00K	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$788.00K	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$1.73M	USD	2 Qtrs
Decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-3.73M	USD	2 Qtrs
Decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-305.00K	USD	2 Qtrs
(Increase) decrease in inventories	`IncreaseDecreaseInInventories`	$4.45M	USD	2 Qtrs
(Increase) decrease in inventories	`IncreaseDecreaseInInventories`	$-1.66M	USD	2 Qtrs
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-172.00K	USD	2 Qtrs
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-437.00K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.23M	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.32M	USD	2 Qtrs
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-122.00K	USD	2 Qtrs
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$43.00K	USD	2 Qtrs
Decrease in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-2.63M	USD	2 Qtrs
Decrease in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.84M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$6.58M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.69M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$557.00K	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$203.00K	USD	2 Qtrs
Proceeds from Beneq receivables (Note 9)	`PaymentsForProceedsFromOtherInvestingActivities`	$-358.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-199.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-203.00K	USD	2 Qtrs
Payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$272.00K	USD	2 Qtrs
Payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$346.00K	USD	2 Qtrs
Value of shares withheld for tax liability	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.51M	USD	2 Qtrs
Value of shares withheld for tax liability	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$355.00K	USD	2 Qtrs
Net proceeds from issuance of capital stock	`ProceedsFromIssuanceOrSaleOfEquity`	$26.00K	USD	2 Qtrs
Net proceeds from issuance of capital stock	`ProceedsFromIssuanceOrSaleOfEquity`	$84.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-543.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.83M	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.43M	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$88.00K	USD	2 Qtrs
Net increase in cash	`CashPeriodIncreaseDecrease`	$1.03M	USD	2 Qtrs
Net increase in cash	`CashPeriodIncreaseDecrease`	$3.11M	USD	2 Qtrs
Cash at beginning of period	`Cash`	$16.18M	USD	Point-in-time
Cash at beginning of period	`Cash`	$11.97M	USD	Point-in-time
Cash at beginning of period	`Cash`	$13.07M	USD	Point-in-time
Cash at beginning of period	`Cash`	$13.00M	USD	Point-in-time
Cash at end of period	`Cash`	$11.97M	USD	Point-in-time
Cash at end of period	`Cash`	$13.07M	USD	Point-in-time
Cash at end of period	`Cash`	$16.18M	USD	Point-in-time
Cash at end of period	`Cash`	$13.00M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.61M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.70M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$858.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$228.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$61.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.55M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$264.00K	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.20M	USD	2 Qtrs
Amounts reclassified from accumulated other comprehensive loss	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	-	USD	1 Quarter
Amounts reclassified from accumulated other comprehensive loss	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	-	USD	2 Qtrs
Amounts reclassified from accumulated other comprehensive loss	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	-	USD	1 Quarter
Amounts reclassified from accumulated other comprehensive loss	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	-	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.50M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$289.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$63.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.12M	USD	2 Qtrs

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