News

Flat-panel vendor posts record sales for quarter

April 17, 2003

BEAVERTON, Ore.--Planar Systems Inc., maker of flat-panel display systems, recorded sales of $60.1 million in the second quarter of its fiscal 2003, up 23 percent over last year's second quarter and 6 percent over the first quarter of this fiscal year, according to a news release.

Net income per diluted share in the quarter ended March 28, 2003, was $0.25; the highest quarterly bottom-line result since 2001, and up from $0.18 a year ago and $0.19 last quarter.

Strong growth in desktop monitor sales and by new business with Planar-branded, large-format plasma displays drove improvement in the segment .

Planar's industrial segment recorded sales of $17.2 million, down about 3 percent and 1 percent versus the year-ago quarter and last quarter, respectively. Business in this market has demonstrated a high correlation with overall activity in the economy, the release stated.

A new, modular display product designed specifically for kiosk applications received early validation from select customers, according to the release. The company would not disclose the customers in beta.