EX-99.1 2 dex991.htm BUSINESS SEGMENT FINANCIAL INFORMATION Business segment financial information

Exhibit 99.1

Planar Systems, Inc.

Historical Business Segment Reporting (in 000's)

 

Revenue    FYQ105     FYQ205     FYQ305     FYQ405     FY2005     FYQ106     FYQ206     FYQ306     FYQ406     FY2006     FYQ107  
                    

Medical

   12,110     10,716     9,841     10,298     42,965     11,446     10,618     10,668     11,348     44,080     10,332  

Industrial

   22,815     23,994     20,599     19,442     86,850     20,276     22,070     20,361     17,318     80,025     16,510  

Commercial

   28,163     26,386     22,751     24,717     102,017        25,427     20,192     18,336     20,010     83,965        19,230  

Control Room & Signage

   0     0     0     0     0     0     0     0     4,656     4,656     18,837  
                  

Total Revenue

   63,088     61,096     53,191     54,457     231,832     57,149     52,880     49,365     53,332     212,726     64,909  
                  
Operating Income (Loss)    FYQ105     FYQ205     FYQ305     FYQ405     FY2005     FYQ106     FYQ206     FYQ306     FYQ406     FY2006     FYQ107  
                    

Medical

   236     92     (148 )   (985 )   (805 )   620     1,147     1,629     1,816     5,212     1,510  

Industrial

   7,822     7,362     6,521     4,748     26,453     5,133     7,201     5,301     5,123     22,758     4,624  

Commercial

   (527 )   (859 )   137     782     (467 )   1,453     167     (184 )   (312 )   1,124     (138 )

Control Room & Signage

   0     0     0     0     0     0     0     0     703     703     1,055  

Corporate

   (7,476 )   (11,729 )   (4,922 )   (39,254 )   (63,381 )   (5,222 )   (6,221 )   (4,623 )   (5,208 )   (21,274 )   (10,039 )
                  

Total Operating Income (Loss)

   55     (5,134 )   1,588     (34,709 )   (38,200 )   1,984     2,294     2,123     2,122     8,523     (2,988 )
                  

BUSINESS SEGMENTS:

The Company is organized based on various display businesses, primarily specialty displays. Under this organizational structure, the Company operates in four main segments: Medical, Industrial, Commercial, and Control Room and Signage. The Medical segment derives revenue primarily from digital imaging systems for radiology. The Industrial segment derives revenue primarily through the development and marketing of electroluminescent displays (EL), liquid crystal displays and color active matrix liquid crystal displays used in specialty applications. The Commercial segment derives revenue primarily through the marketing of LCD desktop monitors, other touch displays, televisions, screens and projectors that are sold through distributors to end users and includes revenues from the Company’s Home Theater start up business. The Control Room and Signage segment derives revenue primarily through the marketing of scalable video-wall displays and a line of large area flat screen digital signage monitors and software that are sold through distributors and directly to end users.

Effective September 30, 2006 the Company changed the presentation of the Medical and Industrial segments. Certain revenues, which primarily relate to EL products sold for Medical applications, which were previously presented under the Medical segment, have been moved to the Industrial segment. Prior year amounts have been reclassified to conform to the current year segment presentation.

The information provided above is obtained from internal information that is provided to the Company’s chief operating decision-maker for the purpose of corporate management. Operating income (loss) from the business units includes specifically identifiable costs related to research and development, product development, sales and marketing directly associated with each of the business units. Product development expenses are specifically identified by segment. Marketing and sales expenses are specifically identified by segment. Corporate expenses consist of expenses that are not directly associated with a particular segment and include general research expense, general marketing expense, finance and administration expense, human resources expense, information systems expense, restructuring and impairment charges, and acquisition related costs. Stock based compensation has been included as a corporate expense as this information has not been included in the internal information provided to the chief operating decision-maker. Depreciation, interest expense, interest income, other non-operating items and income taxes by segment are not included in the internal segment information provided to the chief operating decision-maker and are therefore not presented separately below. Inter-segment sales are not material and are included in net sales to external customers above.