InFocus Announces Bad Financial Year 2008

We waited to print this, to make sure we knew exactly what to say about it. Now, we know! But, first the “official? news:”

Last month, InFocus Corporation announced its fourth quarter and full year 2008 financial results. For the fourth quarter, the Company reported revenues of $51.4 million and a net loss of $13.1 million, or $0.32 per share, compared to revenues of $70.6 million and a net loss of $4.2 million, or $0.10 per share, in the third quarter of 2008 and revenues of $81.1 million and a net loss of $1.9 million, or $0.05 per share, in the fourth quarter of 2007. For the year, the Company reported revenues of $255.7 million and a net loss of $23.0 million, or $0.57 per share compared to revenues of $308.2 million and a net loss of $25.6 million, or $0.64 per share for calendar year 2007.

Included in the fourth quarter 2008 results are restructuring charges of $4.2 million and an impairment charge of $2.6 million. The restructuring charge consisted primarily of estimated employee termination costs and lease losses of vacated and unutilized facilities and accounted for $0.10 of the net loss per share. The impairment charge related to the carrying value of the company’s long-lived assets and accounted for $0.07 of the net loss per share. Excluding these charges, proforma Operating Loss for the fourth quarter was $5.3 million.

OK, here’s what we say about it: Is anyone out there shocked? It seems that the only people who don’t understand what’s wrong with InFocus is, well, InFocus. Seriously. They can’t seem to do anything right. And, the solution is simple — listen.  The AV channel is begging, literally begging, for a projector manufacturer to be exclusively ProAV – in other words, NOT sell to distribution, NOT sell to IT companies, NOT sell to Best Buy and NOT sell to and through the Internet. Seriously, be creative here – the ProAV market is something like $25 billion now — isn’t that large enough to support one company ONLY doing ProAV — oh yeah, that’s what Christie Digital does! Get what I am saying?

Ultimately, it won’t matter if InFocus gets it, as they have demonstrated that they don’t care to listen…

Read all about InFocus here.