The company’s actual performance may differ materially because of these or other factors discussed in the management’s discussion and analysis of result of operations and financial condition section of the company’s SEC filings, copies of which can be obtained from the SEC or Ballantyne’s website at www.strong-world.com.
All information discussed on this conference call is as of today and the company undertakes no obligation to update these statements or expectations from prior conversations. Today’s call is also being webcast live over the Internet and a replay will be available on our website for 30 days.
I’m now going to turn the call over to President and CEO, Gary Cavey, who is joined by CFO, Mary Carstens; and Vice President, Kevin Herrmann. Gary?
Gary L. CaveyThank you, Rob good morning everybody. We appreciate you joining us. Earlier today, Ballantyne Strong reported our all time most profitable quarter on a significant net revenues increase year-over-year. Projection Equipment in cinema services achieved very strong quarterly growth comparisons. Ballantyne’s Digital Products business led the way with a very large increase in net revenues and digital cinema services sales doubled year-over-year. The cinema screen business posted lower net revenues versus 2010 Q3, but the strong projection system and service business sales more than made up for the short fall. Mary will fill you in with more specifics and color on our financials following the conclusion of my opening remarks. One of the keys to BTNs record Q3 performance was our participation in the Marcus Theatres, digital cinema retrofit. As a long time cinema supplier of theirs, we were pleased to have once again been selected to a system. Our cinema service team helped orchestrate the rollout and among other things provided them with top of the line in using digital projectors. We are very proud that our crew completed more than 550 installs in just 45 days on their behalf. It is our firm belief that Ballantyne is the only organization they could have accomplished such a big project in such a short timeframe.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV