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Touchscreen Monitors  
Planar reports third fiscal quarter 2007 financial results 08 Aug 2007
BEAVERTON, Ore. — Planar Systems Inc. recorded sales of $68.2 million and a GAAP loss per share of $0.24 in the third quarter, which ended June 29, 2007.
"During our third quarter we made some significant progress in pursuit of our strategic goal to transform Planar into a growing specialty display product supplier," said Gerry Perkel, Planar's president and CEO.
Industrial segment sales in the third fiscal quarter were $14.8 million, up five percent sequentially and down 28 percent compared with the third quarter of fiscal 2006. The company has been investing in additional product development, sales and marketing resources to seek out and capture new design wins to slow the decline and ultimately begin to grow sales in this segment.
The third quarter of 2007 represented the first sequential revenue growth in more than a year. The company expects sequential growth to continue in the fourth fiscal quarter and for the full fiscal year in 2008 as sales associated with new design wins increase.
Sales in the Planar's Commercial segment were $19.1 million, up 11 percent sequentially and up 6 percent versus the third quarter a year ago. The increase was due to sales in new product categories including touch monitors and business projectors reflecting the company's strategic shift to higher-margin products in this segment.
In the short term, Planar's expectations for the fourth quarter, ending September 28, 2007, are for sales of $75 million to $79 million and non-GAAP net loss per share of $0.05 to $0.00.
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