Planar Systems, Inc. (PLNR) Maintains Hold Rating

Analyst James Ricchiuti at Needham has maintained a Hold rating for Planar Systems, Inc. (NASDAQ: PLNR).

Planar reported revenue of $43 million, a 12% year-over-year decline, but above the guidance of $40 million for the first quarter. The company had a loss of $0.05 per share for the quarter.

Needham had forecast a loss of $0.07 per share. The company expects revenue to be in the range of $40-$42 million and a loss of $0.05-$0.10 per share in the second quarter. Needham has revised the earnings estimate for FY10. The research firm now expects Planar to make a loss of $0.07 per share on revenue of $173 million. The EPS estimate for FY10 has been maintained at $0.16 on revenue of $182 million.