Ballantyne Strong (BTN) Reports Q3 Loss of $0.03
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Ballantyne Strong (NYSE: BTN) reported Q3 EPS of ($0.03), versus ($0.18) reported last year. Revenue for the quarter came in at $18.7 million, versus $19.7 million reported last year.
Kyle Cerminara, Chairman and CEO of Ballantyne Strong, Inc. commented, "I am pleased with our progress during the third quarter of 2016. While the third quarter of 2016 was negatively impacted by a few items, the timing of which disproportionally impacted this quarter, we continue to make a great deal of progress with the turnaround of the company and we are excited about the revenue and earnings prospects as we move into 2017. Our team continues to focus now on building from the foundation we’ve laid out in the last year, and though this work takes time, we are confident in the long-term shareholder value we are creating. We have made thoughtful investments that we believe have significant potential over the long term. In the past several quarters, we’ve begun reinvesting in areas that have potential to deliver high returns. Some of the most important investments we’ve made have been in our sales force, digital media software, new businesses, R&D and in our corporate infrastructure. Though these investments will impact our earnings in the short term, our expectation is that they deliver high returns for us in the long term. I’m very excited about the potential impact of these investments over the coming quarters and years."
For earnings history and earnings-related data on Ballantyne Strong (BTN) click here.
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