Wednesday, February 04, 2009

How much was Coolsign worth? About $5.5M, I guess

At least, that's my take on reading Planar's quarterly statement:

As previously reported, the Company sold its Coolsign digital signage
software assets via two separate transactions in the first quarter,
resulting in a combined $5.5 million GAAP gain. Approximately half of
the cash proceeds from these transactions were received in the first
quarter, with the balance received in the second quarter of the current
fiscal year. In addition, as previously disclosed, the Company recorded
a $0.5 million restructuring charge related to the Company’s most recent
cost reduction plan undertaken during the first quarter.

Sooooo, that's a LOT less than many had expected (and certainly a lot less than Planar had paid for the company to begin with), but more than the $1-3M reported on DailyDOOH a few days ago.

No comments: