Ballantyne Strong, Inc. (NYSE MKT: BTN):
|Conference call:||Today - Friday, November 9, 2012 at 10:00 AM ET|
|Webcast / Replay URL:|
|The replay will be available on the Internet for 30 days.|
|Dial-in number:||(800) 381-7839 (no pass code required)|
Ballantyne Strong, Inc. (NYSE MKT: BTN), a provider of digital cinema projection equipment, screens and services as well as specialty lighting equipment, today reported financial results for the third quarter ended September 30, 2012.
Commenting on the Company’s operating results, President and CEO Gary L. Cavey stated,
“Net revenues for the third quarter came in at $39.3 million, down 38% from a year ago when Ballantyne achieved an all-time record as a result of a significant digital cinema deployment. The diluted loss per share of $0.02 compared to net earnings of $0.33 per share in the record-setting Q3 ’11.“Third quarter results reflect the recent industry pricing pressure related to the advanced stage of the domestic digital system rollout, putting pressure on margins for equipment resellers. We are actively focused on expanding into complementary opportunities that build upon our competencies. Ballantyne’s reputation as a customer-focused service provider with an 80-year track record of success is evidence of the Company’s ability to transition to new markets and technologies. Our strong balance sheet and strategic focus positions us for future growth.