MIRA INFORM REPORT
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Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
PLANAR SYSTEMS, INC. |
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Registered Office : |
1195 NW Compton Drive, Beaverton, OR 97006 |
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Country : |
United States |
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Financials (as on) : |
28.09.2007 |
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Date of Incorporation : |
21.11.1988 |
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Com. Reg. No.: |
136932-88 |
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Legal Form : |
Public Company |
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Line of Business : |
Development, Manufacture,
and Marketing of Electronic Display Products and Systems Worldwide |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Difficult |
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Payment Behaviour : |
Slow |
Name
PLANAR SYSTEMS, INC.
Company acronym:
---
Contact Information
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Address |
1195 NW Compton Drive USA |
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Telephone |
503-748-1100 |
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Fax |
503-748-1244 |
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Website |
www.planar.com |
Registration Data
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Date of Registration |
11-21-1988 |
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Registration number |
136932-88 |
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Legal address |
1195 NW Compton Drive USA |
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Legal Form |
Public Company (Nasdaq = PLNR) |
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Share Capital |
As of August 1, 2008, there were 18,603,175 shares, no par value
issued and outstanding. |
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Other Registration
Data |
- |
Shareholders
with Shares
51% of the stock is held by institutional and mutual fund owners including:
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WISCONSIN (STATE OF) INVESTMENT BOARD |
9.38% |
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MANNING & NAPIER ADVISORS INC |
8.50% |
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RENAISSANCE TECHNOLOGIES, LLC |
7.54% |
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ROYCE & ASSOCIATES, INC. |
7.06% |
Board/Executive
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Name |
Gerald K. Perkel |
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Position within the company |
President and CEO |
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Name |
E. Scott
Hildebrandt |
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Position within the company |
Vice President and CFO |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Planar Systems, Inc.
engages in the development, manufacture, and marketing of electronic display
products and systems worldwide. Its Industrial segment provides of embedded,
ruggedized/customized displays to original equipment manufacturers (OEMs) to
include in their systems. It offers electroluminescent displays, active-matrix
liquid crystal displays (LCDs), and passive LCDs for use in various
applications and industries, including instrumentation, medical equipment,
vehicle dashboards, and military applications. This segment’s activities also
include the sales related to Atomic Layer Deposition (ALD) technology; ALD
based services and expertise, such as customer specific coating and material
solutions, and foundry based coating services; and the manufacture and sale of
ALD reactors for customers’ in-house research and development and production.
The company’s Control Room and Signage segment provides high-resolution video
walls for the security, governmental, telecom, energy, industrial, broadcast,
and transportation sectors, as well as digital signage solutions for
transportation, retail, banking, public venue advertising (indoor), and
casino/hospitality sectors.
The company’s Home
Theater segment offers various products, including high-performance home
theater projection systems, large-format thin displays, and unique
front-projection screens. It sells these products directly to custom home
installation dealers primarily in the United States and through specialty home
theater distributors in countries throughout North America, Europe, Australia,
and Asia. Its Commercial segment offers LCD desktop monitors, other touch
displays, and projectors.
Staff
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Number of staff employed |
690 |
Export/Import
(Countries, goods and total values for the period)
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Imports From |
Europe, Far East |
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Exports To |
Worldwide |
Facilities
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Owned |
Manufacture,
warehouse and office |
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Premises Size |
40,000 sq. feet |
Subsidiaries
and Participation
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Parent Company |
Public Company |
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Subsidiaries |
Planar
International Oy DOME imaging
systems, inc. Planar China LLC Planar Taiwan LLC Clarity, a
Division of Planar Systems, Inc. Runco
International LLC |
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Affiliates |
- |
Branches
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Address |
Several branches
worldwide |
Bankers
|
Bank |
Bank of America |
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Bank |
Mellon Bank |
Suppliers,
Partners
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Suppliers |
Not known |
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Partners |
Not known |
Litigation,
Remarks on Payment
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Litigation |
None Recorded |
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Remarks on Payment |
Slow |
Financial
Information
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View: Annual Data | |
All numbers in thousands |
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Reporter Comments
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Comments |
The business is said to be difficult. Payments are slow. The Company
reports losses since several years. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Medium/high
Trade Risk and to be fair. According to our
credit analysts, during the last 6 months, 72% of trade experience indicates
a regular payment. Payments of imports
are currently made with an average of more than 30 days beyond terms. |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.46 |
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UK Pound |
1 |
Rs.73.17 |
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Euro |
1 |
Rs.62.96 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)