LIWA & TRIT exploded, CEU was a bummer. But BTN could be another big mover.
BTN growth to get a Super Spike from China
BTN whose growth last qtr was already seeing a modest jump at 44% ((Q2) ended June 30, 2009.
Q2 2009 net revenues rose 44% to $19.6 million from net revenues of $13.6 million in Q2 2008. Net income increased to $0.9 million, or $0.07 per diluted share, in Q2 2009 compared to a net loss of $0.1 million, or ($0.01) per diluted share, a year-ago.
Digital projection equipment sales increased to $10.0 million in Q2 2009 compared to $2.6 million a year ago, reflecting global demand for systems used to deliver a 3-D cinema experience. In addition, sales of cinema screens rose to $3.1 million versus $1.1 million in Q2 2008, largely reflecting continued strong demand for specialty “silver” screens used for 3-D digital cinema. A year-over-year increase in cinema service revenues also contributed to the improved sales results. )
BTN will now get a Super Spike from China:
China Film Group Selects Ballantyne Strong to Provide and Install 160 Digital Cinema Projectors in Mainland China
* Press Release
* Source: Ballantyne Strong, Inc.
* On Thursday September 17, 2009, 8:33 am EDT
Ballantyne Strong, Inc
OMAHA, Neb.--(BUSINESS WIRE)--Ballantyne Strong, Inc. (NYSE Amex: BTN), a provider of digital cinema projection equipment and services, cinema screens and other cinema products, announced today that its Strong Westrex China subsidiary has been selected to provide and install 160 NEC Digital Cinema projectors for China Film Group Corp in locations across The People’s Republic of China (PRC). Ballantyne currently expects to ship and install up to half the machines in 2009, with initial shipments anticipated as early as Q3, and expects to ship and install the remaining projectors in 2010. The agreement follows an initial 100-projector order that was completed during Q2 2009.
Symbol Price Change
BTN 3.6299 +0.0474
John P. Wilmers, President and Chief Executive Officer of Ballantyne, commented, “We are excited to build upon our longstanding relationship with China Film Group and expand our presence with this contract, our second digital projector deployment in the PRC. China continues to represent a very attractive market for our company, with approximately 6,000 cinema screens and expectations for continued expansion of that base over the coming years. We are confident that the high quality and performance of the NEC digital projector systems, combined with Strong Westrex’s technical service capabilities will ensure ongoing success in this region. We look forward to working with China Film Group and their partners to support their ongoing digital cinema needs.”
In late 2008, Ballantyne executed an agreement with NEC Display Solutions Japan granting Strong Westrex distribution rights to NEC’s line of digital cinema projectors for the PRC. Ballantyne opened a sales and service office in Beijing and is now working toward the opening of additional offices in the PRC and elsewhere in Asia in 2010.
About China Film Group Corp.
China Film Group Corporation (“CFG”) is China’s largest and most influential state-run film enterprise and the sole importer of foreign films in China. CFG's scope of business spans film and television production, film distribution and exhibition, film importation and exportation, cinema circuit management, digital cinema construction, movie channel, print developing and processing, film equipment management, digital film production, film and TV compact disc production, ancillary products, advertising, property management as well as real estate.
About Ballantyne Strong, Inc.
Ballantyne Strong is a provider of digital cinema projection equipment and services as well as cinema screens, motion picture projectors and specialty lighting equipment and services. The Company supplies major and independent theater chains, top arenas, theme parks and architectural sites around the world. For more information visit www.ballantyne-strong.com.