Ballantyne Strong CEO Discusses Q3 2010 Results - Earnings Call Transcript
Ballantyne Strong, Inc. (
)
Q3 2010 Earnings Call
November 04, 2010 10:00 am ET
Executives
Robert Rinderman - IR
Gary Cavey - President and CEO
Kevin Herrmann - Secretary Treasurer and CFO
John Wilmers
Analysts
Eric Wold - Merriman Capital
Mike Malouf - Craig Hallum
Marla Backer - Hudson Square
Presentation
Operator
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Ballantyne Strong, Inc. Q2 2009 Earnings Call Transcript
Ladies and gentlemen thank you for standing by. Welcome to the Ballantyne Strong 2010 third quarter results conference call. During the presentation all participants will be in a listen-only mode. Afterwards we'll conduct a question-and-answer session (Operator Instructions). As a reminder this conference is being recorded Thursday, November 4. I would now like to turn the call over to Robert Rinderman of Jaffoni & Collins, Ballantyne Investor Relations. Please go ahead, sir.
Robert Rinderman
Thank you, Sara. Good morning, everyone. Welcome to Ballantyne’s third quarter conference call. This call will contain forward-looking statements related to the future financial results of Ballantyne Strong. Listeners are cautioned that such statements are based upon current expectations and assumptions and involve certain risks and uncertainties within the meaning of the US Private Securities Litigation Reform Act of 1995.
Listeners should note that these statements are only predictions. They are subject to inherent risks and uncertainties and may be impacted by several factors, including but not limited to, customer demand for the company's products, development of new technology for alternative means of motion picture presentation, domestic and international economic conditions, the achievement of lower costs and expenses, credit concerns in the theater exhibition industry and other risks detailed from time-to-time in the company's other Securities & Exchange Commission filings.
The company's actual performance can differ materially because of these or other factors discussed in the management's discussion and analysis of results of operations and financial conditions section of the company's SEC filings, copies of which can be obtained from the SEC website at www.sec.gov or Ballantyne's website www.ballantyne-strong.com.
All information in this conference call is as of today and the company undertakes no obligation to update these statements or to update these expectations from prior conversations. I'll remind listeners that this call is being webcast live over the internet and that a replay will be available on Ballantyne's web site for 30 days after the call ends.
Now it's my pleasure to introduce Ballantyne’s new President and CEO, Gary Cavey who has joined this morning by CFO Kevin Herrmann and former CEO John Wilmers. Gary?
Gary Cavey
Thank you very much Rob. I am delighted to be here with all of you this morning especially given the very strong operating performance the company reported today.
The record third quarter is a testament to the strength of Ballantyne's great foundation of which we will continue to grow. I am impressed with the company's outstanding reputation, strategic vision, very impressive team, best of breed products and services and certainly the leadership of John Wilmers who has served as CEO over the past 14 years. I am both honored and excited to take on my new role at a time of such growth and opportunity.
Before I turn it over to Kevin, for a more detailed discussion of our quarterly performance, I thought it would be appropriate to provide a few thoughts on how I intend to extend the success achieved in recent years.
Certainly Asia offers substantial growth opportunities for Ballantyne and I am impressed I can count on John as well as P.L. Wong to continue building our presence there. As many of you know, John has spent a great deal of effort in developing a very productive relationships for Ballantyne and Asia.
I am looking forward to tapping John's experience in counseling my role as a CEO and I plan to rely on both John and Kevin to get me up the speed with investment community as they have done an outstanding job on that front.
On behalf of the board and all the folks here at Ballantyne, I would like to thank John for his three decades of service to the company which fortunately are not ending yet, as John is very energized about his new business development focus on Asia.
It's also worth noting that we expect senior management members Chris Stark and Ray Boegner to be very involved in our Asian initiatives going forward. As you know this is my first week at Ballantyne and I am enjoying meeting our team members here in Omaha and I am very impressed not only with their depth in knowledge but also with their excitement in the air and palatable pride that we can and we'll continue the momentum the company has build.
My most recent role was the COO of Midland Radio Corporation, a leader in wireless communications with a large international footprint. Midland has been particular successful in Europe and Latin America, a region where BTN has also been flourishing. I joined Midland to help orchestrate a turnaround which is often the role of a new COO brought in from the outside.
In this case I have the unique challenge of walking into a company that is clicking on all cylinders and due to its highly successful transformation from a leading manufacturer of analog 35 millimeter projectors into a turnkey provider of the highest quality digital cinema products and services. What is especially exciting to me evidently to many of you on today’s call is there is a great visibility to the next few years regarding the three key areas of recent growth, Digital projection system sales, cinema screen manufacturing, our STS cinema services group.
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