Earlier this week Planar Systems, a leader in display and digital signage technology, released its fiscal results for the second quarter of 2014.
The company recorded sales of $41.1 million in Q2 for a total revenue increase of 4% from Q2 of 2013. The results show a GAAP income per share of $0.01 and non-GAAP income per share of $0.03 during this time.
Planar‘s gross profit margin as a percentage of sales was 23.6 percent in Q2, up from 20.4 percent from Q2 2013.
More promising, the company’s growth in quarterly sales of digital signage projects is at 41 percent growth from this time last year, with a total of $19 million in digital signage sales.
Planar says the increase in digital signage revenue more than offsets the decline in sales of commercial and industrial products, which decreased 15 percent (to $22.1 million) compared to Q2 2013. The company says this decrease is due to lower sales of touch monitors, desktop monitors, rear projection cubes, and high-end home products.
“I am pleased with our second quarter results,” says Garry Perkel, President and CEO of Planar. “The strong growth in digital signage product sales, combined with profitability in the second quarter, keeps us in a position to achieve our goals of growing sales of digital signage products in excess of 20 percent for the first fiscal year.”
In the past few months, Planar introduced the new 46 and 55 Simplicity Series digital signage displays, which the company describes as simple, sleek, and affordable. It also introduced the industry’s largest interactive display with Corning Gorilla Glass, the 84 4K Planar UltraRes Touch with ERO at DSE 2014, and began shipping the Clarity Matrix LCD Video Wall System.
Planar expects revenue in the field of $165-175 million in 2014, and is aiming for between 20 and 30 percent revenue growth in sales of digital signage projects compared with 2013. This is a promising report for the digital signage market and manufacturers.
Listen to the replay of Planar’s conference call discussing the Q2 report and future business outlook on the company website until June 6, 2014.
