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Ballantyne Reports Diluted 2013 Q2 EPS Of $0.09 On Net Revenues Of $24.4 Million

Ballantyne Strong, Inc. (NYSE MKT: BTN):

       
Conference call:     Today – August 8 at 10:00 a.m. ET
 
Webcast / Replay URL:

http://www.strong-world.com (Investor Relations section) or www.earnings.com

The replay will be available on the Internet for 90 days.
 
Dial-in number:     800/698-5986 (no pass code required)
 

Ballantyne Strong, Inc. (NYSE MKT: BTN), a provider of digital equipment, screens and managed services as well as specialty lighting equipment, today reported financial results for the second quarter ended June 30, 2013.

Second Quarter Summary

  • Net revenues were $24.4 million. Screen sales rose approximately 18 percent to $3.9 million and the lighting segment achieved quarterly net revenue of $2.9 million, which includes a noteworthy contribution from the completion of the World Trade Center lighting project.
  • Operating income was $1.4 million, which was positively impacted by an increase in gross profit margin to 19.2%, compared to 13.6% the prior year.
  • Achieved diluted earnings per share of $0.09.

Second Quarter Results

Net revenues amounted to $24.4 million, compared to Q2 ‘12 net revenues of $46.7 million. The decline was largely expected as the cinema industry’s shift to a digital equipment platform continues to wind down. Sales of theatre products and services were $21.5 million, versus $46.0 million a year ago.

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