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Ballantyne Strong, Inc. (NYSE Amex: BTN), a provider of digital cinema projection equipment and services, cinema screens and other cinema products, today reported financial results for the first quarter ended March 31, 2012.
First Quarter Highlights
Net revenues increased 38% to $44.0 million compared to Q1 2011.
Operating income increased 50% to $3.4 million compared to Q1 2011.
Achieved diluted earnings per share of $0.17 compared to $0.11 per share in Q1 2011.
First Quarter Results
Ballantyne Strong’s net revenues increased 38% to $44.0 million, led by an 88% year-over-year increase in digital product sales. Cinema service revenues also increased 48% to $3.7 million when compared to Q1 2011, pursuant to the Company’s ongoing focus on further increasing its after-sale maintenance and NOC (Network Operations Center) 24/7 monitoring businesses, in addition to digital projection system installation and integration work on behalf of North American theatre owners and other clients.