Planar Equips Smiths Industries With New 3ATI AMLCD.BEAVERTON, Ore.--(BUSINESS WIRE)--Feb. 2, 1999--Planar Systems, Inc. (Nasdaq:PLNR) announced today that it has signed a $5 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ), multi-year contract with Smiths Industries (Malvern, Pennsylvania Malvern is a borough in Chester County, Pennsylvania, United States. The population was 3,059 at the 2000 census. Geography Malvern is located at (40.034557, -75.514396). ) to supply a new 3ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. active matrix liquid crystal display liquid crystal display (LCD) Optoelectronic device used in displays for watches, calculators, notebook computers, and other electronic devices. Current passed through specific portions of the liquid crystal solution causes the crystals to align, blocking the passage of light. (AMLCD (Active Matrix LCD) See active matrix. ). Smiths Industries expects to use Planar's 3ATI AMLCD for flight deck instruments in both military and commercial aircraft including, flight path and engine information centers, attitude direction indicators (ADI), and horizontal situation indicators (HSI (Hue Saturation Intensity) A color space similar to HSB. See HSB. ). "Planar is a major supplier for flat panel displays; they have dedicated themselves to making high quality components," says David Marvin, Director of Marketing, Smiths Industries. "Recent acquisitions and new product development has broadened Planar's product portfolio and capabilities, which are compatible with our high-volume, color avionics needs." "Planar has a long history of providing high-performance, quality display components to the military avionics marketplace," said Jim Hurd, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Planar Systems, Inc. "By providing the standard 3ATI AMLCD format, we are able to serve a larger portion of the non-military aircraft sector. We take pride in the increasing number of customers who trust our displays to provide critical information in these demanding applications, where lives are at stake." Planar currently provides graphic displays for GPS/communication instruments for general aviation, numeric displays on commercial aircraft flight decks, as well as ruggedized, multi-function flat panel and CRT (1) (C RunTime) See runtime library. (2) (Cathode Ray Tube) A vacuum tube used as a display screen in a computer monitor or TV. The viewing end of the tube is coated with phosphors, which emit light when struck by electrons. displays designed for military use. Planar's 3ATI AMLCD display was designed to replace Toshiba's popular 3ATI AMLCD component, now discontinued. The 3ATI is a standard instrument size popular in both military and commercial avionics applications and Planar is one of the few vendors providing this format in a ruggedized, color AMLCD. The operating temperature of -30 to +85 (Degree)C withstands the temperature extremes typical of cockpit instrumentation. The storage temperature tops at +90 (Degree)C. The display features a 240 by 240 pixel matrix in a quad-pixel (red, green, white, and blue) format. The video-capable response rate will display information in real-time and in full-color. Production of the display in Planar's Wisconsin facility is scheduled to start in summer 1999. One of Smiths Industries' key programs for which this display was designed is the T-6A Texan II trainer by Raytheon Aircraft Company. Each aircraft uses twelve 3ATI displays. The U.S. Air Force and U.S. Navy will train all new pilots in the Texan II. The U.S. Air Force will take delivery of the first aircraft in 1999 and the U.S. Navy in 2002. The Joint Primary Aircraft Training System Joint Primary Aircraft Training System, usually just called JPATS, was an aircraft procurement program of the United States in the 1990s by the USAF and USN, a merger of 1980s era training aircraft programs. (JPATS JPATS Joint Primary Aircraft Training System JPATS Justice Prisoner and Alien Transportation Service (US Department of Justice) ) program calls for more than 700 Texan II aircraft to be built through the year 2014. Smiths Industries Aerospace (London:SMIN) is one of three operating groups of Smiths Industries plc. It is a leader in the development of advanced avionics for military and civil aircraft. The company also manufactures medical systems and specialized industrial products. The company's website is at www.smiths-industries.com. Planar Systems, Inc. is a worldwide leader in the development, manufacture and marketing of high performance commercial flat-panel display flat-pan·el display n. A thin lightweight video display used in laptop and notebook computers and employing liquid crystals, electroluminescence, or a similar alternative to cathode-ray tubes. Also called flat screen. components, CRT and flat-panel based display products for federal markets and display systems for specialized applications. The primary market sectors that Planar serves today are medical, industrial, instrumentation, defense, communications, transportation and business/office. The Company competes on a global basis with full development, manufacturing and marketing operations in both the United States and Europe. For more information, visit Planar's website at www.planar.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, product demand and market acceptance risk, the effect of economic conditions, the impact of competitive products and pricing, product development, commercialization and technological difficulties, capacity and supply constraints or difficulties, actual purchases under agreements, the effects of the Company's accounting policies, and other risks detailed in the Company's Securities and Exchange Commission filings. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release. If the Company does update one or more forward-looking statements, investors and others should not conclude that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. PLANAR and the Definition of Quality are registered trademarks of Planar Systems, Inc. All other trademarks are the property of their respective owners. |
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