Ballantyne Strong, Inc. (NYSE MKT: BTN):
|Conference call:||Today – May 8 at 11:00 a.m. ET|
|Webcast / Replay URL:||
http://www.strong-world.com (Investor Relations section)
|The replay will be available on the Internet for 90 days.|
|Dial-in number:||800-762-8795 ; conference ID 4681716 or “Ballantyne Strong”|
Ballantyne Strong, Inc. (NYSE MKT: BTN), a diversified provider of digital technology services, products and solutions, today reported financial results for the first quarter ended March 31, 2014.
Net revenues were $22.0 million in the first quarter of 2014, compared with $27.6 million in the same period of the prior year. Net loss totaled $0.6 million, or ($0.04) per share, in the first quarter of 2014, compared with net income of $0.6 million, or $0.04 per diluted share, in the same period of the prior year.
Gary L. Cavey, President and CEO of Ballantyne Strong, commented, “Although total revenues were impacted by seasonal weakness in the first quarter, we are very pleased with the improvement we are seeing in gross margin as a result of the growth in our Managed Services segment. For the first quarter of 2014, Managed Services increased to 38% of our total revenue, up from 9% in the same period of the prior year. This helped drive a nearly five percentage point improvement in our gross margin to 19.1%.
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