Ballantyne Strong (BTN) Reports Q2 Loss of $0.21

Ballantyne Strong (NYSE: BTN) reported Q2 EPS of ($0.21), versus $0.03 reported last year. Revenue for the quarter came in at $19.7 million, versus $22 million reported last year.

Kyle Cerminara, Chairman of Ballantyne Strong, commented, “Since May 13th, the management team has worked closely with the newly composed Board to evaluate our entire cost structure and various lines of business. As a first step, we have developed and implemented a reorganization plan to reduce our cost structure and enhance our future profitability. As we continue to evaluate the Company and determine which product and service areas represent the best long-term growth opportunities, we will be taking further steps to realign the business to maximize future profitability and increase shareholder value. We’re excited about the current mix of businesses of Ballantyne Strong and the future opportunities for growth. We are committed to working with the management team to invest in our current businesses by leveraging the significant cash balances of the Company.”

For earnings history and earnings-related data on Ballantyne Strong (BTN) click here.

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