Ballantyne Strong (BTN) Reports Q3 Loss of $0.12
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Ballantyne Strong (NYSE: BTN) reported Q3 EPS of ($0.12), versus ($0.08) reported last year. Revenue for the quarter came in at $16.8 million, versus $16.5 million reported last year.
Highlights for the Third Quarter 2019 Compared to the Third Quarter 2018
- Total revenue increased 2.4% to $16.8 million for the third quarter of 2019 compared to $16.5 million in the prior year
- Gross profit increased 64.7% to $5.8 million for the third quarter of 2019 compared to $3.5 million in the prior year
- Operating income improved to $0.1 million for the third quarter of 2019 from an operating loss of $1.8 million in the prior year
- Net loss was $1.8 million ($0.12 per share) for the third quarter of 2019 compared to $1.2 million ($0.08 per share) in the prior year
- Adjusted EBITDA* improved to $1.8 million for the third quarter of 2019 compared to $0.3 million in the prior year
Kyle Cerminara, Chairman and CEO, commented, “Operating results for the third quarter continued to reflect demonstrable progress toward our strategic plans. Convergent’s enterprise customers continue to expand with our Digital Signage as a Service platform, while Strong Outdoor generated improving performance and our Strong Cinema business rebounded nicely in the third quarter after being limited in the first half of 2019 by the impact of the roof damage.”
Cerminara added, “Convergent continues to see healthy demand from current customers and prospects for our digital signage and communications platforms. Strong Cinema has a leading North American presence and significant capacity for growth internationally, particularly with the opening of our facility in China. In addition, we believe there are attractive opportunities in the US to further expand in a fragmented industry.”
For earnings history and earnings-related data on Ballantyne Strong (BTN) click here.
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