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August 14, 2019 - Ballantyne Strong Reports Second Quarter and Year to Date 2019 Operating Results

Charlotte, NC – August 14, 2019 – Ballantyne Strong, Inc. (NYSE American: BTN) (the “Company”), a holding company with diverse business activities focused on serving the cinema, retail, financial, advertising and government markets, today announced financial results for the period ended June 30, 2019. The Company conducts its operations through three operating segments: Strong Cinema, Convergent and Strong Outdoor.

Second Quarter and First Half 2019 Highlights

  • Total revenue increased 0.6% to $14.3 million for the second quarter of 2019 compared to the prior year and decreased 4.8% to $28.6 million for the first half of 2019 compared to the prior year. Revenue grew 53.1% for the quarter and 37.7% for the first half in our Convergent business unit primarily due to the acceleration of our DSaaS recurring revenue business model. Strong Cinema posted lower revenue for the quarter and first half, as weather-related damage at our production facility impacted operations. The newly improved and expanded production area is nearing completion and expected to be operational soon.
  • Gross profit increased 150.3% to $3.2 million for the second quarter of 2019 and increased 42.0% to $5.9 million for the first half of 2019. Gross profit margins improved to 22.7% for the quarter from 9.1% and improved to 20.6% from 13.8% for the first half. The improvement was a direct result of repositioning Convergent to a high margin recurring revenue model combined with cost reduction initiatives. Gross profit margins remained stable at Strong Cinema, while the gross profit dollar contribution declined as a result of the lower revenue in the current periods. 
  • Operating loss improved 57.9% to $2.3 million for the second quarter of 2019 and improved 43.1% to $4.9 million for the first half of 2019. Improved operating performance at Convergent and Strong Outdoor combined with reductions in administrative expenses were partially offset by the lower contribution from Strong Cinema in the current periods. 
  • Net loss improved 49.4% to $3.4 million ($0.24 per share) for the second quarter of 2019 as compared to $6.8 million ($0.47 per share) in the prior year. Net loss improved 28.2% to $7.6 million ($0.52 per share) for the first half of 2019 as compared to $10.5 million ($0.73 per share) in the prior year. Net loss improved primarily due to improved operating results partially offset by non-cash fair value adjustments and equity method investment losses. 
  • Adjusted EBITDA, a non-GAAP measure, improved to negative $0.9 million for the first quarter of 2019 from negative $3.2 million in the prior year. On a year to date basis, Adjusted EBITDA improved to negative $2.5 million from negative $5.4 million, due primarily to operating improvements at Convergent and reduced administrative expenses. 
  • Announced transaction with Firefly Systems Inc. (“Firefly”), receiving $4.8 million Series A-2 preferred shares in conjunction with entering into agreements with Firefly to collaborate on its digital advertising business. If the transaction had been effective for the full six-month period, reported revenue would have been reduced by approximately $0.9 million, operating expenses would have been reduced by approximately $2.4 million, and operating income would have been increased by approximately $1.5 million.

Kyle Cerminara, Chairman and CEO, commented, “Overall, Ballantyne Strong generated significantly improved operating results with consolidated operating profit metrics all improving from the prior year. Convergent continued to post gains in operating results reflecting the growth in our recurring revenue DSaaS business combined with a significant reduction in operating costs. We believe that Strong Outdoor is much better positioned following the recently announced investment and collaboration agreement with Firefly. At Strong Cinema, construction is coming along nicely on our newly upgraded production facility and we expect to see a positive impact and sequential improvements in the second half.”

Conference Call
A conference call to discuss the second quarter 2019 financial results will be held on Wednesday, August 14, 2019 at 4:30 pm Eastern Time. Investors and analysts are invited to access the conference call by dialing 877-407-3982 (domestic) or 201-493-6780 (international) and providing the operator with conference ID number: 13693626. A replay will be available approximately two hours after the conclusion of the conference call until Saturday, September 14, 2019 by dialing 844-512-2921 in the U.S. and Canada and 412-317-6671 internationally and entering the conference ID number: 13693626.

See Report Tables here.

About Ballantyne Strong, Inc.
Ballantyne Strong (www.ballantynestrong.com) and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing of managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, advertising and government markets.

CONTACT
Ballantyne Strong, Inc.
Mark Roberson
Chief Financial Officer
IR@btn-inc.com
704-994-8295

August 7, 2019 - Ballantyne Strong to Announce Second Quarter 2019 Financial Results and Host Conference Call on August 14, 2019

Omaha, NE – August 7, 2019 – Ballantyne Strong, Inc. (NYSE American: BTN) (the “Company”), a holding company with diverse business activities focused on serving the cinema, retail, financial, advertising and government markets, today announced that the Company will issue its financial results for the second quarter 2019 after the market closes on Wednesday, August 14, 2019.

A conference call to discuss the second quarter 2019 financial results will be held on Wednesday, August 14, 2019 at 4:30 pm Eastern Time. Investors and analysts are invited to access the conference call by dialing 877-407-3982 (domestic) or 201-493-6780 (international) and providing the operator with conference ID number: 13693626. A replay will be available approximately two hours after the conclusion of the conference call until Saturday, September 14, 2019 by dialing 844-512-2921 in the U.S. and Canada and 412-317-6671 internationally and entering the conference ID number: 13693626. 

Forward-Looking Statements
Except for the historical information in this press release, it includes forward-looking statements which involve a number of risks and uncertainties, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in our Annual Report on Form 10-K and the following risks and uncertainties: the Company’s ability to expand its revenue streams, potential interruptions of supplier relationships or higher prices charged by suppliers, the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments, the Company’s ability to successfully execute its capital allocation strategy, the Company’s ability to retain or replace its significant customers, the impact of a challenging global economic environment or a downturn in the markets, economic and political risks of selling products in foreign countries, risks of non-compliance with U.S. and foreign laws and regulations, cybersecurity risks and risks of damage and interruptions of information technology systems, the Company’s ability to retain key members of management and successfully integrate new executives, the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms or at all, the Company’s ability to assert its intellectual property rights, the impact of natural disasters and other catastrophic events, the adequacy of insurance and the impact of having a controlling stockholder. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

Investor Contact
Mark Roberson
IR@btn-inc.com  
(704) 994-8295
4201 Congress Street, Suite 175, Charlotte, NC 28209

May 30, 2019 - STRONG Outdoor Increases Investment in Traditional Media Platform with Investment in NYC Premium Taxi Tops

Becomes strategic investor and partner in Firefly placing its digital bet on the growth of Firefly’s dynamic smart media platform

NEW YORK—(BUSINESS WIRE)—STRONG Outdoor, an operating business of Ballantyne Strong, Inc. (NYSE American: BTN), has announced that it is investing in its fleet of over 3,200 static taxi tops by doubling its inventory of Premium Tops.

STRONG Outdoor’s Premium Tops launched in February of 2019. As the newest static taxi-top displays in New York, STRONG Outdoor’s Premium Tops provide advertisers the ability to create high frequency and impactful consumer impressions on the city street.

“We’re excited to double the size of our Premium taxi top fleet,” said Ian Greenberg, President of STRONG Outdoor. “In the few months since we launched this product, advertiser demand has been tremendous. STRONG Outdoor’s new Premium tops have enabled brands to stand-out in New York. We believe now is the time to continue to expand our Premium product offering.”

STRONG Outdoor also announced a partnership with Firefly’s dynamic smart media platform and became a strategic investor and partner in Firefly. The digital collaboration with Firefly will allow STRONG Outdoor to have a digital investment and partnership in the Firefly team while focusing its sales attention to traditional and premium taxi tops, new media assets and a newly created experiential marketing product offering that STRONG Outdoor will look to expand over the coming months.

“We are excited about the potential for growth in digital advertising and we believe that Firefly, led by CEO Kaan Gunay, is the right team and platform to combine with our digital platform in New York City. We look forward to being significant shareholders in Firefly and benefiting from the growth in digital at Firefly while maintaining our significant market presence in non-digital advertising at STRONG Outdoor,” said Kyle Cerminara, CEO of Fundamental Global and Chairman of STRONG Outdoor.

About Ballantyne Strong, STRONG Outdoor and Fundamental Global
Founded in 1932, Ballantyne Strong, Inc. (NYSE American: BTN) is a global leader in digital media solutions and cinema products and services. Through its wholly-owned subsidiaries, Ballantyne Strong, Inc. is responsible for tens of thousands of signs and screens globally. STRONG Outdoor, an operating business of Ballantyne Strong, Inc. controls nearly half of the traditional and premium taxi top advertising inventory in the New York City market. STRONG Outdoor entered the New York City market in 2018 by taking-over roughly half of the traditional and premium taxi top advertising inventory in the New York City market. Today, STRONG Outdoor has over 3,200 traditional static tops. Fundamental Global is Ballantyne Strong, Inc.’s largest shareholder and is an investment management firm that manages equity, fixed income and alternative funds and strategies.

About Firefly
Firefly connects cities with its dynamic smart media platform. The company works with taxi companies and rideshare drivers to install its proprietary advertising displays atop their vehicles, providing an additional revenue stream to maximize their drive time. Firefly’s technology delivers the right message at the right time, cutting through the noise of a booming space and leading to highly effective campaign-engagement. These proprietary screens are customized and enabled to geo-local advertising based on driver routes and location. Founded by Kaan Gunay (CEO) and Onur Kardesler (CTO), Firefly is headquartered in San Francisco, with offices in New York City, Los Angeles, and Istanbul. To learn more: Fireflyon.com.

CONTACTS
Sales Contact
Ian Greenberg
ian@strongoutdoor.com

Media Contact
John Schweikert
jschweikert@strongoutdoor.com

Investor Contact
Mark Roberson
mark.roberson@btn-inc.com

May 14, 2019 - Ballantyne Strong Reports First Quarter 2019 Operating Results

Omaha, NE – May 14, 2019 – Ballantyne Strong, Inc. (NYSE American: BTN) (the “Company”), a holding company with diverse business activities focused on serving the cinema, retail, financial, advertising and government markets, today announced financial results for the period ended March 31, 2019. The Company conducts its operations through three operating segments: Strong Cinema, Convergent and Strong Outdoor.

First Quarter 2019 Highlights

  • Total revenue decreased 9.6% to $14.3 million for the first quarter of 2019 as revenue growth at Convergent and Strong Outdoor were offset by lower revenue generated by Strong Cinema as our production facility was closed for several weeks in the quarter due to weather-related damage. The facility resumed production and shipping in March, and we are rebuilding the damaged section of the facility which was fully covered by insurance.
  • Gross profit decreased 7.2% to $2.6 million for the first quarter of 2019 as favorable contributions from Convergent, where revenue growth was accompanied by an increase in gross profit margins from 14.5% to 28.3%, were offset by the flow through of decreased revenue at Strong Cinema from the temporary plant closure. The favorable trend at Convergent is due to the combination of growth in high margin recurring revenue and cost reduction initiatives.
  • Operating loss improved by $0.5 million for first quarter of 2019 to $2.6 million as improved operating performance at Convergent and reductions in administrative expenses were partially offset by increased investment in start-up operating expenses at Strong Outdoor and by the lower contribution from Strong Cinema.
  • Net loss was $4.2 million ($0.29 per share) for the first quarter of 2019 as compared to $3.8 million ($0.26 per share) in the prior year as improved operating performance was offset by non-cash fair value adjustments and equity method investment losses.
  • Adjusted EBITDA, a non-GAAP measure, improved to negative $1.6 million for the first quarter of 2019 from negative $2.1 million in the prior year due to operating improvements at Convergent and reduced administrative expenses.

Kyle Cerminara, Chairman and CEO commented, “We continued to see strong performance from our Convergent business, which has turned around significantly over the past few quarters. Strong Cinema was impacted by weather damage to our facility in Quebec, and we stopped shipping for several weeks during the first quarter. The facility resumed operations in March, and we are fully insured for property and casualty and business interruption. We expect insurance recoveries to be approximately $5 million CDN, which will positively impact future quarters as those claims are finalized.

“The Convergent team has done a tremendous job accelerating high margin recurring revenue growth while also significantly lowering their operating costs. Strong Outdoor is building out its sales leadership team and we expect to see growth accelerating in the second half of 2019.”

Conference Call
The Company will host a conference call on Tuesday, May 14, 2019 at 4:30 pm Eastern Time. Investors and analysts are invited to access the conference call by dialing 877-407-3982 (domestic) or 201-493-6780 (international) and providing the operator with conference ID number: 13690794. A replay will be available approximately two hours after the conclusion of the conference call until Friday, June 14, 2019 by dialing 844-512-2921 in the U.S. and Canada and 412-317-6671 internationally and entering the conference ID number: 13690794.

See Report Tables here.

About Ballantyne Strong, Inc. (www.ballantynestrong.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, advertising and government markets.

CONTACT
Ballantyne Strong, Inc.
Mark Roberson
Chief Financial Officer
Mark.Roberson@btn-inc.com
704-994-8295

May 8, 2019 - Ballantyne Strong to Announce First Quarter 2019 Financial Results and Host Conference Call on May 14, 2019

Omaha, NE – May 8, 2019 – Ballantyne Strong, Inc. (NYSE American: BTN) (the “Company”), a holding company with diverse business activities focused on serving the cinema, retail, financial, advertising and government markets, today announced that the Company will issue its financial results for the first quarter 2019 after the market closes on Tuesday, May 14, 2019.

A conference call to discuss the first quarter 2019 financial results will be held on Tuesday, May 14, 2019 at 4:30 pm Eastern Time. Investors and analysts are invited to access the conference call by dialing 877-407-3982 (domestic) or 201-493-6780 (international) and providing the operator with conference ID number: 13690794, A replay will be available approximately two hours after the conclusion of the conference call until Friday, June 14, 2019 by dialing 844-512-2921 in the U.S. and Canada and 412-317-6671 internationally and entering the conference ID number: 13690794.

Forward-Looking Statements
Except for the historical information in this press release, it includes forward-looking statements which involve a number of risks and uncertainties, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in our Annual Report on Form 10-K and the following risks and uncertainties: the Company’s ability to expand its revenue streams, potential interruptions of supplier relationships or higher prices charged by suppliers, the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments, the Company’s ability to successfully execute its capital allocation strategy, the Company’s ability to retain or replace its significant customers, the impact of a challenging global economic environment or a downturn in the markets, economic and political risks of selling products in foreign countries, risks of non-compliance with U.S. and foreign laws and regulations, cybersecurity risks and risks of damage and interruptions of information technology systems, the Company’s ability to retain key members of management and successfully integrate new executives, the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms or at all, the Company’s ability to assert its intellectual property rights, the impact of natural disasters and other catastrophic events, the adequacy of insurance and the impact of having a controlling stockholder. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

CONTACT
Ballantyne Strong, Inc.
Mark Roberson
Chief Financial Officer
Mark.Roberson@btn-inc.com
704-994-8295

March 11, 2019 - Ballantyne Strong Reports Fourth Quarter and Year End 2018 Operating Results

Omaha, NE – March 11, 2019 – Ballantyne Strong, Inc. (NYSE American: BTN) (the “Company”), a holding company with diverse business activities focused on serving the cinema, retail, financial, advertising and government markets, today announced financial results for the period ended December 31, 2018. The Company conducts its operations through three operating segments: Strong Cinema, Convergent and Strong Outdoor.

Fourth Quarter and Full Year 2018 Highlights

  • Total revenue increased 15.7% to $18.2 million for the fourth quarter of 2018 due to quarterly revenue growth
    from Convergent and incremental revenue from the start-up of Strong Outdoor. For the year, revenue decreased 11.0% to $64.7 million as reductions at Convergent and Strong Cinema, where we eliminated several product lines earlier in the year, were partially offset by the start-up of Strong Outdoor.
  • Gross profit increased 15.6% to $4.5 million for the fourth quarter of 2018 due to increased quarterly revenues at Convergent and Strong Outdoor combined with cost reduction initiatives at Convergent. For the year, gross profit decreased 35.7% to $12.2 million largely due to the startup costs of Strong Outdoor, and lower annual revenue at Convergent.
  • Operating income amounted to $0.1 million for the fourth quarter of 2018 compared to a loss of $1.9 million in the fourth quarter of 2017 due to the combination of higher quarterly revenue and cost reduction initiatives implemented at Convergent. For the year, operating loss was $10.3 million compared to a loss of $2.8 million in the prior year, largely due to the startup costs of Strong Outdoor and the operating losses incurred in the first three quarters in connection with the repositioning of Convergent.
  • Net loss was $0.6 million ($0.04 per share) for the fourth quarter of 2018 as compared to a loss of $1.0 million ($0.07 per share) in the fourth quarter of the prior year. For the year, net loss was $12.3 million ($0.86 per share) as compared to a loss of $3.6 million ($0.25 per share) in the prior year, largely due to the startup costs of Strong Outdoor and impairment charges incurred in connection with the repositioning of Convergent.
  • Adjusted EBITDA, a non-GAAP measure, improved to positive $1.4 million for the fourth quarter of 2018 from negative $0.4 million in the fourth quarter of 2017 due to quarterly revenue growth combined with improved operating expenses. For the year, adjusted EBITDA was a loss of $3.7 million in 2018 compared to positive $0.5 million in 2017, largely due to the start-up costs of Strong Outdoor and operating losses in the first nine months for Convergent.

“Earlier in 2018, we took a number of steps to right-size and restructure our Convergent business, significantly reducing our operating costs while also accelerating higher margin recurring revenue. We also invested in the startup of Strong Outdoor, which is now beginning to generate meaningful revenue and is expected to continue to grow in 2019. Our Strong Cinema business continues to generate strong margins and reliable cash flow. The investments in the startup of Strong Outdoor and the restructuring of Convergent adversely impacted our reported operating results for the year. We started seeing the benefit of those initiatives in the fourth quarter and look forward to building on that foundation in 2019.”

Conference Call
The Company will host a conference call on Monday March 11, 2019 at 8:30 am Eastern Time, which can be accessed by calling: U.S.: 1-877-407-3982 International: 1-201-493-6780 A replay will be available until Thursday April 11, 2019, 11:59 PM by dialing 1-844-512-2921 in the U.S. and Canada and 1-412-317-6671 internationally and entering the pin number: 13688563.

Use of Non-GAAP Measures
Ballantyne Strong, Inc. prepares its consolidated financial statements in accordance with United States generally accepted accounting principles (“GAAP”). In addition to disclosing financial results prepared in accordance with GAAP, the Company discloses information regarding Adjusted EBITDA, which differs from the term EBITDA as it is commonly used. In addition to adjusting net income (loss) to exclude taxes, interest, and depreciation and amortization, Adjusted EBITDA also excludes share-based compensation, impairment charges, equity method income, fair value adjustments, severance and transactional expenses and other non-cash charges.

EBITDA and Adjusted EBITDA are not measures of performance defined in accordance with GAAP. However, Adjusted EBITDA is used internally in planning and evaluating the Company’s operating performance. Accordingly, management believes that disclosure of these metrics offers investors, bankers and other stakeholders an additional view of the Company’s operations that, when coupled with the GAAP results, provides a more complete understanding of the Company’s financial results.

Adjusted EBITDA should not be considered as an alternative to net loss or to net cash used in operating activities as a measure of operating results or liquidity. It may not be comparable to similarly titled measures used by other companies, and it excludes financial information that some may consider important in evaluating the Company’s performance. A reconciliation of GAAP net loss to Adjusted EBITDA is included in the accompanying financial schedules.

For further information, please refer to Ballantyne Strong, Inc.’s Annual Report on Form 10-K to be filed with the SEC on or about March 12, 2019, available online at www.sec.gov.

About Ballantyne Strong, Inc. (www.ballantynestrong.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, advertising and government markets.

Forward-Looking Statements
Except for the historical information in this press release, it includes forward-looking statements which involve a number of risks and uncertainties, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2018 and the following risks and uncertainties: the Company’s ability to expand its revenue streams, potential interruptions of supplier relationships or higher prices charged by suppliers, the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments, the Company’s ability to successfully execute its capital allocation strategy, the Company’s ability to retain or replace its significant customers, the impact of a challenging global economic environment or a downturn in the markets, economic and political risks of selling products in foreign countries, risks of non-compliance with U.S. and foreign laws and regulations, cybersecurity risks and risks of damage and interruptions of information technology systems, the Company’s ability to retain key members of management and successfully integrate new executives, the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms or at all, the Company’s ability to assert its intellectual property rights, the impact of natural disasters and other catastrophic events, the adequacy of insurance and the impact of having a controlling stockholder. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

CONTACT
Ballantyne Strong, Inc.
Mark Roberson
Chief Financial Officer
Mark.Roberson@btn-inc.com
704-994-8295

November 7, 2018 - Ballantyne Strong Reports Financial Results for Third Quarter 2018

OMAHA, Nebraska (November 7, 2018) – Ballantyne Strong, Inc. (NYSE American: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial, advertising and government markets, today reported financial results for the third quarter ended September 30, 2018.

Net revenues were $16.5 million in the third quarter of 2018, compared with $19.6 million in the same period of the prior year. Loss from operations was ($1.8) million in the third quarter of 2018, compared with income from operations of $0.5 million in the same period of the prior year. Net loss from continuing operations was ($1.2) million, or ($0.08) per share, in the third quarter of 2018 compared with ($1.0) million, or ($0.07) per share, in the same period of the prior year.

Q3 2018 Financial Summary
Cinema revenues were $11.6 million in the third quarter of 2018, compared with $12.3 million in the same period of the prior year. The decrease was driven primarily by lower sales of screens, digital cinema equipment and non-recurring maintenance services, partially offset by higher sales of screen support systems and installation services.

Digital Media revenues were $5.1 million in the third quarter of 2018, compared with $7.6 million in the same period of the prior year. The decrease was driven primarily by lower revenue from installation services and smaller decreases in contract maintenance revenue, sales of digital signage equipment and revenue from non-recurring maintenance. These decreases were partially offset by $1.5 million of revenue in the current year from our taxicab advertising business that did not exist in the prior year.

Consolidated gross profit was $3.5 million in the third quarter of 2018, compared with $5.3 million in the same quarter of the prior year. Gross margin was 21.5% in the third quarter of 2018, compared with 27.2% in the same quarter of the prior year. The decrease in gross margin percentage was driven primarily by an increase in fixed costs in the Digital Media segment associated with the new Strong Digital Media taxicab advertising business. Excluding the new taxicab advertising business, gross profit was $4.4 million, or 29.6% gross margin. We expect gross losses in the taxicab advertising business will continue into 2019 until enough advertising revenue can be generated to cover these fixed costs.

Selling and administrative expenses were $4.5 million in the third quarter of 2018, compared with $4.8 million in the same quarter of the prior year. The decrease was driven by decreases in consulting expenses and marketing expenses, partially offset by an increase in professional fees.

Balance Sheet
Ballantyne’s cash and cash equivalents balance at September 30, 2018 was $5.7 million, compared to $4.9 million at December 31, 2017. The increase in cash was primarily driven by $4.5 million of proceeds from the sale of the Company’s common stock of BK Technologies, Inc. during the third quarter of 2018 and $4.0 million of net proceeds from a sale-leaseback of the Company’s Alpharetta, Georgia office facility during the second quarter of 2018. This increase was mostly offset by the cash impact of operating losses. Equity method investments had a book value of $12.0 million and a market value of $9.4 million as of September 30, 2018.

About Ballantyne Strong, Inc. (www.ballantynestrong.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, advertising and government markets.

Forward-Looking Statements
Except for the historical information in this press release, it includes forward-looking statements which involve a number of risks and uncertainties, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and the following risks and uncertainties: the Company’s ability to expand its revenue streams, potential interruptions of supplier relationships or higher prices charged by suppliers, the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments, the Company’s ability to successfully execute its capital allocation strategy, the Company’s ability to retain or replace its significant customers, the impact of a challenging global economic environment or a downturn in the markets, economic and political risks of selling products in foreign countries, risks of non-compliance with U.S. and foreign laws and regulations, cybersecurity risks and risks of damage and interruptions of information technology systems, the Company’s ability to retain key members of management and successfully integrate new executives, the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms or at all, the Company’s ability to assert its intellectual property rights, the impact of natural disasters and other catastrophic events, the adequacy of insurance and the impact of having a controlling stockholder. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

See Tables here.

CONTACT
Kyle Cerminara
Chairman and Chief Executive Officer
402/829-9403

November 7, 2018 - Ballantyne Strong Announces the Appointment of Mark Roberson as Chief Financial Officer

Ballantyne Strong Announces the Appointment of Mark Roberson as Chief Financial Officer

Ballantyne Strong, Inc. (NYSE American: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial, advertising and government markets, today announced that Mark Roberson will join the Company as Executive Vice President and Chief Financial Officer effective November 16th.

Mr. Roberson, age 53, has more than 20 years of financial management experience. He brings an extensive background in executive leadership, operations, corporate finance, SEC reporting, treasury, and mergers & acquisitions. Mr. Roberson has served most recently as Chief Operations Officer of Chanticleer Holdings, Inc. (Nasdaq: BURG), a restaurant operating company, since May 2015, where he was responsible for SEC reporting, accounting, budgeting and operational management of U.S. and international business units. Prior to Chanticleer Holdings Inc., he served as Chief Executive Officer, since February 2010, Acting Chief Executive Officer, from May 2009 to February 2010, and as Chief Financial Officer, since October 2007, of PokerTek, Inc., a gaming technology company then listed on Nasdaq, until the company was sold in October 2014. Mr. Roberson previously held positions of increasing responsibility at Baker & Taylor, Inc., Curtiss-Wright Controls, Inc., Krispy Kreme Doughnut Corporation, Inc., LifeStyle Furnishings International, Ltd., Coopers & Lybrand, LLP and Ernst and Young, LLP. Mr. Roberson received a bachelor’s degree in Economics from Southern Methodist University, a bachelor’s degree in Accounting from the University of North Carolina at Greensboro and a master’s degree in business administration from Wake Forest University. Mr. Roberson is a Certified Public Accountant. He has served on the Board of Directors of Cynergistek, Inc. (NYSE American: CTEK), a cybersecurity and information management consulting firm, since May 2016, where he chairs the Audit and Compensation Committees. Roberson will succeed Lance Schulz, who resigned effective November 16, 2018, as Chief Financial Officer.

Kyle Cerminara, Chairman and CEO of Ballantyne Strong, Inc. commented, “We are very excited to welcome Mark to the Ballantyne Strong team and look forward to benefiting from his many years of financial and operational leadership experience. We would like to thank Lance Schulz for his service to Ballantyne Strong and we wish him well in his future endeavors.”

About Ballantyne Strong, Inc. (www.ballantynestrong.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, advertising and government markets.

CONTACT
Ballantyne Strong, Inc.
Kyle Cerminara
Chairman and Chief Executive Officer
402-829-9403

August 8, 2018 - Ballantyne Strong Reports Financial Results for Second Quarter 2018

OMAHA, Nebraska (August 8, 2018) – Ballantyne Strong, Inc. (NYSE American: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial, advertising and government markets, today reported financial results for the second quarter ended June 30, 2018.

Net revenues were $14.2 million in the second quarter of 2018, compared with $19.4 million in the same period of the prior year. Loss from operations was ($5.5) million in the second quarter of 2018, compared with ($0.8) million in the same period of the prior year. Net loss from continuing operations was ($6.8) million, or ($0.47) per share, in the second quarter of 2018 compared with net loss from continuing operations of ($1.9) million, or ($0.14) per share, in the same period of the prior year.

Kyle Cerminara, Chairman and CEO of Ballantyne Strong, Inc., commented, “During the second quarter, we continued to make significant investments in our Strong Digital Media taxi-top advertising business, with much of the revenue expected to begin in the second half of 2018. We also began a large Digital Signage as a Service (DSaaS) implementation for a significant new customer that is expected to add over $1.0 million per quarter of incremental recurring revenue beginning in the next few months. We completed a sale-leaseback of our Alpharetta, Georgia office building for $7.0 million, and a portion of the proceeds was used to retire existing debt. Lastly, we experienced some notable charges in the quarter, including a $1.3 million software impairment charge, a $0.7 million impairment charge to the carrying value of our Itasca investment based on the purchase price paid by our affiliate, Fundamental Global, for a large block of stock in Itasca and a $0.5 million inventory obsolescence charge. Our efforts in the second half of 2018 will be heavily focused on executing against our strategy in the Digital Media segment, while continuing to focus on optimal capital allocation among our businesses and creating long-term value for our shareholders.”

Q2 2018 Financial Summary
Cinema revenues were $10.4 million in the second quarter of 2018, compared with $13.2 million in the same period of the prior year. The decrease was driven by decreased lamp sales, as the Company terminated its distributorship for certain cinema lamp products in July 2017 due to the very low margins earned on those products, and decreased sales of screens and projectors.

Digital Media revenues were $3.8 million in the second quarter of 2018, compared with $6.3 million in the same period of the prior year. This decrease was driven primarily by decreased non-recurring digital signage installation sales. Smaller decreases in sales of recurring contract maintenance services, digital signage equipment and non-recurring maintenance services were partially offset by increased digital signage as a service (“DSaaS”) revenues and revenue in the current year from our taxicab advertising business, which did not exist in the prior year. We expect DSaaS revenues to continue to increase during the second half of the year as we implement DSaaS for a new customer during the third quarter, which we expect to generate over $1.0 million of DSaaS revenues per quarter when fully implemented. We also expect taxicab advertising revenues to gradually increase during the second half of the year.

Consolidated gross profit was $1.3 million in the second quarter of 2018, compared with $5.3 million in the same quarter of the prior year. Gross margin was 9.1% in the second quarter of 2018, compared with 27.2% in the same quarter of the prior year. The decrease in gross margin percentage was driven primarily by an increase in fixed costs in the Digital Media segment associated with the new Strong Digital Media taxicab advertising business. Excluding the new taxicab advertising business, gross profit was $3.2 million, or 23.6% gross margin. Advertising revenues are expected to gradually increase throughout 2018, absorbing a larger portion of those fixed costs until the business generates a positive gross profit in late 2018 or early 2019.

Selling and administrative expenses were $5.5 million in the second quarter of 2018, compared with $6.1 million in the same quarter of the prior year. The decrease was driven by a decreases in consulting expenses of $0.2 million and bad debt expense of $0.4 million.

Balance Sheet
Ballantyne’s cash and cash equivalents balance at June 30, 2018 was $6.8 million, compared to $4.9 million at December 31, 2017. The increase in cash was primarily driven by the net proceeds from a sale-leaseback of the Company’s Alpharetta, Georgia office facility during the second quarter of 2018. This increase was partially offset by the cash impact of operating losses. Equity method investments had a book value of $16.8 million and a market value of $15.0 million as of June 30, 2018.

About Ballantyne Strong, Inc. (www.ballantynestrong.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, advertising and government markets.

Forward-Looking Statements
Except for the historical information in this press release, it includes forward-looking statements which involve a number of risks and uncertainties, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and the following risks and uncertainties: the Company’s ability to expand its revenue streams, potential interruptions of supplier relationships or higher prices charged by suppliers, the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments, the Company’s ability to successfully execute its capital allocation strategy, the Company’s ability to retain or replace its significant customers, the impact of a challenging global economic environment or a downturn in the markets, economic and political risks of selling products in foreign countries, risks of non-compliance with U.S. and foreign laws and regulations, cybersecurity risks and risks of damage and interruptions of information technology systems, the Company’s ability to retain key members of management and successfully integrate new executives, the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms or at all, the Company’s ability to assert its intellectual property rights, the impact of natural disasters and other catastrophic events, the adequacy of insurance and the impact of having a controlling stockholder. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

See tables here.

CONTACT
Ballantyne Strong, Inc.
Mark Roberson
Chief Financial Officer
Mark.Roberson@btn-inc.com
704-994-8295

July 12, 2018 - Ballantyne Strong Announces Appointment of Colonel Jack H. Jacobs to the Board of Directors

Ballantyne Strong Announces Appointment of Colonel Jack H. Jacobs to the Board of Directors

Ballantyne Strong, Inc. (NYSE American: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial, advertising and government markets, today announced the appointment of Colonel (Ret) Jack H. Jacobs to the Board of Directors to replace the vacancy created by the resignation of James C. Shay, who has served on the Board of Directors since May 2012.

Colonel Jacobs is the Melcher Family Chair and Professor of Humanities and Public Affairs at the United States Military Academy at West Point and is a principal of The Fitzroy Group, Ltd., a firm that specializes in the development of residential real estate in London. Colonel Jacobs is also an on-air analyst for NBC News, where he was an Emmy nominee in 2010 and 2011 and a recipient of the 2011 Murrow Award. He is the Vice Chairman of the Medal of Honor Foundation. Colonel Jacobs is among the most highly decorated soldiers from the Vietnam era, having earned three Bronze Stars, two Silver Stars and the Medal of Honor, the nation’s highest combat decoration. After retiring from active duty in 1987, Colonel Jacobs was the co-founder and Chief Operating Officer of AutoFinance Group Inc., a firm that was subsequently sold to Key Bank. He was a Managing Director of Bankers Trust where he was responsible for the firm’s foreign exchange options business globally. Colonel Jacobs has been a member of the board of directors of numerous publicly traded companies and is currently a director of Paragon Technologies, Inc., Datatrak International, Inc., and Resonant, Inc. Colonel Jacobs received a B.A. and a Master’s degree from Rutgers University.

Kyle Cerminara, Chairman and CEO of Ballantyne Strong, Inc. commented, “We would like to welcome Colonel Jacobs to the Ballantyne Strong Board of Directors. We are very excited to benefit from his many years of leadership experience both in business and in the military. We would like to thank Jim Shay for his service to Ballantyne Strong and we wish him well in his future endeavors.”

About Ballantyne Strong, Inc. (www.ballantynestrong.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, advertising and government markets.

CONTACT
Ballantyne Strong, Inc.
Lance Schulz, 402-829-9427
Chief Financial Officer

May 8, 2018 - Ballantyne Strong Reports Financial Results for First Quarter 2018

OMAHA, Nebraska (May 8, 2018) – Ballantyne Strong, Inc. (NYSE American: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial, advertising and government markets, today reported financial results for the first quarter ended March 31, 2018.

Net revenues were $15.8 million in the first quarter of 2018, compared with $17.9 million in the same period of the prior year. Loss from operations was ($3.1) million in the first quarter of 2018, compared with ($0.6) million in the same period of the prior year. Net loss from continuing operations was ($3.8) million, or ($0.26) per share, in the first quarter of 2018 compared with net income from continuing operations of $0.4 million, or $0.03 per share, in the same period of the prior year.

Kyle Cerminara, Chairman and CEO of Ballantyne Strong, Inc., commented, “We incurred significant start-up costs with the launch of our New York City taxi-top advertising business, which we believe will be a notable contributor to Digital Media revenue in the second half of 2018. We also signed a very significant Digital Signage as a Service (DSaaS) contract that should begin to benefit our Digital Media results in late 2018. Lastly, we announced an agreement with Eclipse Screens under which we expect to benefit from selling screens to the themed entertainment industry over the coming months and years.”

Q1 2018 Financial Summary
Cinema revenues were $11.4 million in the first quarter of 2018, compared with $12.7 million in the same period of the prior year. The decrease was driven by decreased sales of lamps, projectors and screen support systems, partially offset by increases in sales of audio equipment and projection system installation services.

Digital Media revenues were $4.7 million in the first quarter of 2018, compared with $5.3 million in the same period of the prior year. This decrease was driven by decreased non-recurring digital signage equipment sales, partially offset by increased recurring digital signage as a service (“DSaaS”) and increased sales of installation services.

Consolidated gross profit was $2.9 million in the first quarter of 2018, compared with $4.4 million in the same quarter of the prior year. Gross margin was 18.0% in the first quarter of 2018, compared with 24.8% in the same quarter of the prior year. The decrease in gross margin percentage was driven by an increase in fixed costs in the Digital Media segment associated with the operational ramp up of the new Strong Digital Media advertising business. Revenues are expected to gradually increase throughout 2018 and 2019 absorbing a larger portion of those fixed costs until the business generates a positive gross profit in late 2018 or early 2019.

Selling and administrative expenses were $5.9 million in the first quarter of 2018, compared with $5.0 million in the same quarter of the prior year. The increase was driven by an increase in audit, tax and legal expenses of $0.4 million, compensation and benefit expense of $0.4 million and amortization expense of $0.1 million.

Balance Sheet
Ballantyne’s cash and cash equivalents balance at March 31, 2018 was $3.3 million, compared to $4.9 million at December 31, 2017. The decrease in cash was primarily driven by operating losses. Equity method investments had a book value of $17.8 million and a market value of $15.5 million as of March 31, 2018.

About Ballantyne Strong, Inc. (www.ballantynestrong.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, advertising and government markets.

Forward-Looking Statements
Except for the historical information in this press release, it includes forward-looking statements which involve a number of risks and uncertainties, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and the following risks and uncertainties: the Company’s ability to expand its revenue streams, potential interruptions of supplier relationships or higher prices charged by suppliers, the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments, the Company’s ability to successfully execute its capital allocation strategy, the Company’s ability to retain or replace its significant customers, the impact of a challenging global economic environment or a downturn in the markets, economic and political risks of selling products in foreign countries, risks of non-compliance with U.S. and foreign laws and regulations, cybersecurity risks and risks of damage and interruptions of information technology systems, the Company’s ability to retain key members of management and successfully integrate new executives, the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms or at all, the Company’s ability to assert its intellectual property rights, the impact of natural disasters and other catastrophic events, the adequacy of insurance and the impact of having a controlling stockholder. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

See Tables here.

CONTACT
Lance Schulz
Chief Financial Officer
402/829-9427

November 3, 2017 - Ballantyne Strong to Report Third Quarter 2017 Financial Results on Monday, November 6, 2017

Ballantyne Strong to Report Third Quarter 2017 Financial Results on Monday, November 6, 2017
Conference Call and Webcast to be Held at 4:30 p.m. ET

OMAHA, Nebraska (November 3, 2017) – Ballantyne Strong, Inc. (NYSE American: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial and government markets, today announced that the company will issue its financial results for the 2017 third quarter after the market closes on Monday, November 6, 2017.

A conference call to discuss 2017 third quarter financial results will be held on Monday, November 6, 2017 at 4:30 p.m. Eastern Time / 3:30 p.m. Central Time. Investors and analysts are invited to access the conference call by dialing 844-834-0648 (domestic) or 412-317-5195 (international), and referencing “Ballantyne Strong.” There will also be a live webcast of the call available at the Investor Relations section of https://ballantynestrong.com.

After the live webcast, a replay will remain available in the Investor Relations section of Ballantyne Strong’s website. A replay of the call will be available at 877-344-7529 (domestic) or 412-317-0088 (international) through November 20, 2017 using conference ID 10111271.

About Ballantyne Strong, Inc. (https://ballantynestrong.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, and government markets.

CONTACT
Lance Schulz
Chief Financial Officer
402/829-9427

August 4, 2017 - Ballantyne Strong to Report Second Quarter 2017 Financial Results on Monday, August 7, 2017

Ballantyne Strong to Report Second Quarter 2017 Financial Results on Monday, August 7, 2017
Conference Call and Webcast to be Held at 5:00 p.m. ET

OMAHA, Nebraska (August 4, 2017) – Ballantyne Strong, Inc. (NYSE American: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial and government markets, today announced that the company will issue its financial results for the 2017 second quarter after the market closes on Monday, August 7, 2017.

A conference call to discuss 2017 second quarter financial results will be held on Monday, August 7, 2017 at 5:00 p.m. Eastern Time / 4:00 p.m. Central Time. Investors and analysts are invited to access the conference call by dialing 844-834-0648 (domestic) or 412-317-5195 (international), and referencing “Ballantyne Strong.” There will also be a live webcast of the call available at the Investor Relations section of https://ballantynestrong.com.

After the live webcast, a replay will remain available in the Investor Relations section of Ballantyne Strong’s website. A replay of the call will be available at 877-344-7529 (domestic) or 412-317-0088 (international) through August 21, 2017 using conference ID 10111271.

About Ballantyne Strong, Inc. (https://ballantynestrong.com)

Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, and government markets.

CONTACT
Lance Schulz
Chief Financial Officer
402/829-9427

May 11, 2017 - Ballantyne Strong Announcement on Previously Released Financial Statements

Ballantyne Strong Announcement on Previously Released Financial Statements

OMAHA, Nebraska (May 11, 2017) – Ballantyne Strong, Inc. (NYSE MKT: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial and government markets, today made an announcement about previously released financial statements.

During the preparation of its Form 10-Q for the quarter ended March 31, 2017, management of Ballantyne Strong, Inc. (the “Company”) identified two misstatements in the Company’s previously issued consolidated financial statements for the year ended December 31, 2016. Accordingly, investors should no longer rely upon the Company’s previously released financial statements for the year ended December 31, 2016. The first misstatement related to approximately $477,000 of maintenance service revenue that was pre-billed at a customer’s request, but related to services not completed by December 31, 2016. This revenue was improperly recognized during the year ended December 31, 2016. The Company continues to evaluate revenue recognition for maintenance services as of December 31, 2016. The second misstatement related to earnings at one of the Company’s Canadian subsidiaries that would be subject to a withholding tax if repatriated to the U.S. The Company improperly excluded earnings to the extent of certain intercompany loans between its Canada and U.S. entities from its provision for deferred income taxes, resulting in an understatement of deferred income tax expense of approximately $238,000.

On May 9, 2017, the Company’s management and the Audit Committee of its Board of Directors decided to file an amended Form 10-K for the year ended December 31, 2016, to restate the Company’s Consolidated Balance Sheet as of December 31, 2016, and the related Consolidated Statement of Operations, Consolidated Statement of Comprehensive Income (Loss), Consolidated Statement of Stockholders’ Equity and Consolidated Statement of Cash Flows for the year then ended to correct the misstatements described above. The restated financial statements to be included in the amended Form 10-K should be relied on in lieu of the financial statements included in the Company’s original Form 10-K for the year ended December 31, 2016. Although the Company cannot yet estimate when it will complete the restatement and file its amended report, it is diligently pursuing completion of the restatement and intends to file the amended report as soon as reasonably practicable. The Company expects to file its Form 10-Q for the quarter ended March 31, 2017 promptly after the restatement is complete.

About Ballantyne Strong, Inc. (www.ballantynestrong.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, and government markets.

Forward-Looking Statements
Except for the historical information in this press release, it includes forward-looking statements which involve a number of risks and uncertainties, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and the following risks and uncertainties: the Company’s ability to expand its revenue streams to compensate for the lower demand for its digital cinema products and installation services, potential interruptions of supplier relationships or higher prices charged by suppliers, the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments, the Company’s ability to successfully execute its investment strategy, the Company’s ability to retain or replace its significant customers, the impact of challenging global economic environment or a downturn in the markets, economic and political risks of selling products in foreign countries, risks of non-compliance with U.S. and foreign laws and regulations, cybersecurity risks and risks of damage and interruptions of information technology systems, the Company’s ability to retain key members of management and successfully integrate the new executives, acquisition-related risks, the Company’s ability to assert its intellectual property rights, the impact of natural disasters and other catastrophic events, the adequacy of insurance, and the impact of having a controlling stockholder. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

CONTACT
Lance Schulz
Chief Financial Officer
402/829-9427

Elise Stejskal
Investor Relations
402/829-9423

March 14, 2017 - Ballantyne Strong to Report Fourth Quarter 2016 Financial Results on Thursday, March 16, 2017

Ballantyne Strong to Report Fourth Quarter 2016 Financial Results on Thursday, March 16, 2017
Conference Call and Webcast to be Held at 8:30 a.m. ET

OMAHA, Nebraska (March 14, 2017) – Ballantyne Strong, Inc. (NYSE MKT: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial and government markets, today announced that the company will issue its financial results for the 2016 fourth quarter before the market opens on Thursday, March 16, 2017.

A conference call to discuss 2016 fourth quarter financial results will be held on Thursday, March 16, 2017 at 8:30 a.m. Eastern Time / 7:30 a.m. Central Time. Investors and analysts are invited to access the conference call by dialing 844-834-0648 (domestic) or 412-317-5195 (international), and referencing “Ballantyne Strong”. There will also be a live webcast of the call available at the Investor Relations section of https://ballantynestrong.com.

After the live webcast, a replay will remain available in the Investor Relations section of Ballantyne Strong’s website. A replay of the call will be available at 877-344-7529 (domestic) or 412-317-0088 (international) through March 30, 2017 using conference ID 10098856.

About Ballantyne Strong, Inc. (https://ballantynestrong.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, and government markets.

CONTACTS
Ryan Burke
Chief Financial Officer
402/829-9434

Elise Stejskal
Investor Relations
402/829-9423

November 1, 2016 - Ballantyne Strong to Report Third Quarter 2016 Financial Results on Tuesday, November 8, 2016

Ballantyne Strong to Report Third Quarter 2016 Financial Results on Tuesday, November 8, 2016
Conference Call and Webcast to be Held at 5:00 p.m. ET

OMAHA, Neb.–(BUSINESS WIRE)– Ballantyne Strong, Inc. (NYSE MKT: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial and government markets, today announced that the company will issue its financial results for the 2016 third quarter after the market closes on Tuesday, November 8, 2016.

A conference call to discuss 2016 third quarter financial results will be held on Tuesday, November 8, 2016 at 5:00 p.m. Eastern Time / 4:00 p.m. Central Time. Investors and analysts are invited to access the conference call by dialing 866-652-5200 (domestic) or 412-317-6060 (international), and referencing “Ballantyne Strong”. There will also be a live webcast of the call available at the Investor Relations section of http://www.strong-world.com.

After the live webcast, a replay will remain available in the Investor Relations section of Ballantyne Strong’s website. A replay of the call will be available at 877-344-7529 (domestic) or 412-317-0088 (international) through November 22, 2016 conference ID 10091963.

About Ballantyne Strong, Inc. (www.strong-world.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, and government markets.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161101005278/en/

Contacts
Ballantyne Strong, Inc.
Ryan Burke, 402-829-9434
Chief Financial Officer
or
Elise Stejskal, 402-829-9423
Investor Relations

September 30, 2016 - Ballantyne Strong Announces Holding Company Leadership Team

OMAHA, Neb. – (BUSINESS WIRE) – Ballantyne Strong, Inc. (NYSE MKT:BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial and government markets, today announced the transition to a holding company leadership team. As part of the holding company transition, Ryan Burke has been appointed Senior Vice President, Chief Financial Officer, and Treasurer. In addition, Elise Stejskal has been named Vice President of Finance and Ryan Turner has been named Vice President of Strategic Investments.

Mr. Burke, who has served as Corporate Controller for Ballantyne Strong since January 2015, will replace Nathan Legband who will be leaving to pursue other opportunities at the end of October.

Kyle Cerminara, Chairman and CEO of Ballantyne Strong, commented, “We are excited to have Ryan Burke assume the role as our new Chief Financial Officer. We are confident that his knowledge of our business along with his finance and accounting experience will help Ballantyne Strong execute on our strategic vision to transform into a highly performing holding company. We are also excited for Elise Stejskal and Ryan Turner as they take on new roles and responsibilities. We want to thank Nate Legband for his contributions to Ballantyne Strong and we wish him well in his future endeavors.”

Mr. Burke joined Ballantyne Strong as Corporate Controller in January 2015. In the role, Mr. Burke has been responsible for the preparation of all SEC filings, coordinating internal and external audit functions, implementing and maintaining a strong internal control environment, and managing the treasury function, among other responsibilities. Prior to joining Ballantyne Strong, Mr. Burke served as Portfolio Company Controller for Tenaska Capital Management, LLC from October 2008 until December 2014. He was previously employed as an Audit Manager at KPMG, LLP from October 2002 through October 2008.

Ms. Stejskal joined Ballantyne Strong in October 2014 as Director of Finance. In this role, Ms. Stejskal has been critical to our financial modeling and forecasting. Over the last year, Ms. Stejskal built out Ballantyne Strong’s internal investor relations function. Prior to joining Ballantyne Strong, Ms. Stejskal spent over six years with ConAgra Foods where she rose through the financial ranks in a variety of financial roles.

Mr. Turner joined Ballantyne Strong in July 2015 as Director of Business Development. In this role, Mr. Turner has been critical to our investments in RELM Wireless, 1347 Property Insurance Holdings and Limbach Holdings via Itasca Capital. Prior to joining Ballantyne Strong, Mr. Turner was Director of Research at Fundamental Global Investors.

Ray Boegner, President of Ballantyne Strong’s Cinema Business and Steve Schilling, President of Ballantyne Strong’s Digital Media Business will both continue to manage the operational and sales functions of their respective businesses.

Kyle Cerminara concluded, “We have been working to transition Ballantyne Strong to a highly performing holding company that is focused on returns on invested capital. Our focus on building a holding company finance and accounting team that is responsible for the financial reporting, financial modeling and evaluation of current and future uses of our precious capital resources is a natural next step in this evolution. We are excited about the initial progress we have made and we look forward to the long-term future of the company.”

About Ballantyne Strong, Inc. (www.strong-world.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, and government markets.

Forward-Looking Statements
Except for the historical information in this press release, it includes forward-looking statements which involve a number of risks and uncertainties, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and the following risks and uncertainties: the Company’s ability to expand its revenue streams to compensate for the lower demand for its digital cinema products and installation services, potential interruptions of supplier relationships or higher prices charged by suppliers, the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments, the Company’s ability to successfully execute its investment strategy, the Company’s ability to retain or replace its significant customers, the impact of challenging global economic environment or a downturn in the markets, economic and political risks of selling products in foreign countries, risks of non-compliance with U.S. and foreign laws and regulations, cybersecurity risks and risks of damage and interruptions of information technology systems, the Company’s ability to retain key members of management and successfully integrate the new executives, acquisition-related risks, the Company’s ability to assert its intellectual property rights, the impact of natural disasters and other catastrophic events, the adequacy of insurance, and the impact of having a controlling stockholder. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160930005739/en/

Contacts
Ballantyne Strong, Inc.
Ryan M. Burke, 402-829-9434
Chief Financial Officer
or
Elise Stejskal, 402-829-9423
Investor Relations

September 9, 2016 - Ballantyne Strong Acquires Common Shares of Itasca Capital Ltd.

OMAHA, Neb.–(BUSINESS WIRE)– Ballantyne Strong, Inc. (NYSE MKT: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial and government markets, announces that it has acquired indirect ownership of an aggregate of 465,500 common shares (“Shares”) of Itasca Capital Ltd. (TSX-V: ICL; OTCQB: KBXMF) (“Itasca”) through open market purchases on the TSX-V market. This announcement is made by Ballantyne Strong to comply with certain legal requirements under Canadian securities legislation respecting its ownership of securities of Itasca.

The Shares were acquired by Strong/MDI Inc., a wholly-owned subsidiary of Ballantyne Strong, and having a head office address at 1440 Rue Raoul Charette, Joliette, Quebec, J6E 8S7.

As a result of the acquisition of the Shares, Ballantyne Strong now, indirectly, beneficially owns and exercises control over an aggregate of 6,993,000 Shares, representing approximately 32.1 % of the 21,810,626 issued and outstanding common shares of Itasca (as disclosed in Itasca’s latest quarterly filing for the period ending June 30, 2016). Ballantyne Strong paid an average of CAD $0.675 per Share for the recently acquired Shares that are subject to this news release for total consideration of CAD $314,129.

On June 6, 2016, Itasca completed an issuer bid and acquired 25,820,761 common shares for cancellation. As a result of the cancellation of 25,820,761 common shares, Itasca’s issued and outstanding common share capital was reduced from 45,481,387 (as disclosed in Itasca’s Issuer Bid Circular dated April 29, 2016) to 21,810,626 common shares as of June 30, 2016 (as disclosed in Itasca’s Management’s Discussion and Analysis for the period ending June 30, 2016 dated as of August 26, 2016). As a result, as of May 30, 2016, Ballantyne Strong had ownership and control over Common Shares representing approximately 14% of the then outstanding shares, and as of June 6, 2016 representing approximately 29.9% of the outstanding shares.

Ballantyne Strong acquired the Shares for strategic purposes and may, depending on market and other conditions, increase or decrease beneficial ownership, control or discretion over, shares or other securities of Itasca through market transactions, private agreements or otherwise.

The head office of Itasca is located at Suite 2900, 595 Burrard Street, Vancouver, British Columbia.

Strong/MDI Inc. will file with the Canadian regulators within the prescribed period an early warning report providing details on the acquisition. The report will be available on SEDAR. In addition, a copy of the report may be obtained by contacting Elise Stejskal at the below number.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160909005905/en/

Contacts
Ballantyne Strong, Inc.
Nate Legband, 402-829-9404
Chief Financial Officer
or
Elise Stejskal, 402-829-9423
Investor Relations

July 21, 2016 - Ballantyne Strong to Report Second Quarter 2016 Financial Results on Thursday, August 4, 2016

Ballantyne Strong to Report Second Quarter 2016 Financial Results on Thursday, August 4, 2016
Conference Call and Webcast to be Held at 5:00 p.m. ET

OMAHA, Neb.–(BUSINESS WIRE)–Ballantyne Strong, Inc. (NYSE MKT: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial and government markets, today announced that the company will issue its financial results for the 2016 second quarter after the market closes on Thursday, August 4, 2016.

A conference call to discuss 2016 second quarter financial results will be held on Thursday, August 4, 2016 at 5:00 p.m. Eastern Time / 4:00 p.m. Central Time. Investors and analysts are invited to access the conference call by dialing 866-652-5200 (domestic) or 412-317-6060 (international), and referencing “Ballantyne Strong”. There will also be a live webcast of the call available at the Investor Relations section of http://www.strong-world.com.

After the live webcast, a replay will remain available in the Investor Relations section of Ballantyne Strong’s website. A replay of the call will be available at 877-344-7529 (domestic) or 412-317-0088 (international) through August 17, 2016 conference ID 10087492.

About Ballantyne Strong, Inc. (www.strong-world.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial and government markets.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160721005062/en/

Contacts
Ballantyne Strong, Inc.
Nate Legband, 402-829-9404
Chief Financial Officer
or
Elise Stejskal, 402-829-9423
Investor Relations

May 27, 2016 - Ballantyne Strong Acquires Common Shares of Kobex Capital Corp.

OMAHA, Neb.–(BUSINESS WIRE)– Ballantyne Strong, Inc. (NYSE MKT:BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial and government markets, announces that it has acquired indirect ownership of an aggregate of 996,500 common shares (“Shares”) of Kobex Capital Corp. (TSX-V: KXM; OTCQB: KBXMF) (“Kobex”) through open market purchases on the TSX-V market. This announcement is made by Ballantyne Strong to comply with certain legal requirements under Canadian securities legislation respecting its ownership of securities of Kobex.

The Shares were acquired by Strong/MDI Inc., a wholly-owned subsidiary of Ballantyne Strong, and having a head office address at 1440 Rue Raoul Charette, Joliette, Quebec, J6E 8S7.

As a result of the acquisition of the Shares, Ballantyne Strong now, indirectly, beneficially owns and exercises control over an aggregate of 6,527,500 Shares, representing approximately 14.3 % of the 45,481,387 issued and outstanding common shares of Kobex (as disclosed in Kobex’s Issuer Bid Circular dated April 29, 2016). Ballantyne Strong paid an average of Cdn$0.657 per Share for the recently acquired Shares that are subject to this news release for total consideration of Cdn$654,570.

Ballantyne Strong acquired the Shares for strategic purposes and may, depending on market and other conditions, increase or decrease beneficial ownership, control or discretion over, shares or other securities of Kobex through market transactions, private agreements or otherwise.

The head office of Kobex is located at Suite 1703, 595 Burrard Street, Vancouver, British Columbia.

Strong/MDI Inc. will file with the Canadian regulators within the prescribed period an early warning report providing details on the acquisition. The report will be available on SEDAR. In addition, a copy of the report may be obtained by contacting Elise Stejskal at the below number.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160527005110/en/

Contacts
Ballantyne Strong, Inc.
Nate Legband, 402-829-9404
Chief Financial Officer
or
Elise Stejskal, 402-829-9423
Investor Relations

May 20, 2016 - Ballantyne Strong Acquires Common Shares of Kobex Capital Corp.

OMAHA, Neb.–(BUSINESS WIRE)– Ballantyne Strong, Inc. (NYSE MKT: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial and government markets, announces that as of May 19, 2016, it had acquired indirectly ownership of an aggregate of 5,489,500 common shares (“Shares”) of Kobex Capital Corp. (TSX-V: KXM; OTCQB: KBXMF) (“Kobex”) on the TSX-V market. This announcement is made by Ballantyne Strong to comply with certain legal requirements under Canadian securities legislation respecting its ownership of securities of Kobex.

The Shares were acquired by Strong/MDI Inc., a wholly-owned subsidiary of Ballantyne Strong, and having a head office address at 1440 Rue Raoul Charette, Joliette, Quebec, J6E 8S7.

As a result of the acquisition of the Shares, Ballantyne Strong now, indirectly, beneficially owns and exercises control over approximately 12% of the 45,481,387 issued and outstanding common shares of Kobex (as disclosed in Kobex’s Issuer Bid Circular dated April 29, 2016). Ballantyne Strong paid Cdn$.6565 per Share for total consideration of Cdn$3,604,115.

Ballantyne Strong acquired the Shares for strategic purposes and may, depending on market and other conditions, increase or decrease beneficial ownership, control or discretion over, shares or other securities of Kobex through market transactions, private agreements or otherwise.

The head office of Kobex is located at Suite 1703, 595 Burrard Street, Vancouver, British Columbia.

Strong/MDI Inc. will file with the Canadian regulators within the prescribed period an early warning report providing details on the acquisition. The report will be available on SEDAR. In addition, a copy of the report may be obtained by contacting Elise Stejskal at the below number.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160520005151/en/

Contacts
Ballantyne Strong, Inc.
Nate Legband, 402-829-9404
Chief Financial Officer
or
Elise Stejskal, 402-829-9423
Investor Relations

April 25, 2016 - Ballantyne Strong to Report First Quarter 2016 Financial Results on Wednesday, May 4, 2016

Conference Call and Webcast to be Held at 5:00 p.m. ET

OMAHA, Neb.–(BUSINESS WIRE)– Ballantyne Strong, Inc. (NYSE MKT:BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial and government markets, today announced that the company will issue its financial results for the 2016 first quarter after the market closes on Wednesday, May 4, 2016.

A conference call to discuss 2016 first quarter financial results will be held on Wednesday, May 4, 2016 at 5:00 p.m. Eastern Time / 4:00 p.m. Central Time. Investors and analysts are invited to access the conference call by dialing 866-652-5200 (domestic) or 412-317-6060 (international), and referencing “Ballantyne Strong”. There will also be a live webcast of the call available at the Investor Relations section of http://www.strong-world.com.

After the live webcast, a replay will remain available in the Investor Relations section of Ballantyne Strong’s website. A replay of the call will be available at 877-344-7529 (domestic) or 412-317-0088 (international) through May 16, 2016 conference ID 10084295.

About Ballantyne Strong, Inc. (www.strong-world.com)
Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, and government markets.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160420006626/en/

Contacts
Ballantyne Strong, Inc.
Nate Legband, 402-829-9404
Chief Financial Officer
or
Elise Stejskal, 402-829-9423
Investor Relations

Source: Ballantyne Strong, Inc.

January 19, 2016 - Ndamukong Suh Appointed to Board of Directors of Ballantyne Strong

OMAHA, Nebraska (January 19, 2016) – Ballantyne Strong, Inc. (NYSE MKT:BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial and government markets, today announced that Ndamukong Suh has been appointed to its board of directors, effective January 18, 2016. Ndamukong Suh commented, “I’m honored to be appointed to the board of directors at Ballantyne Strong. This is a great responsibility that I do not take lightly. I look forward to working with my fellow board members to build long term shareholder value at Ballantyne Strong.”

Kyle Cerminara, Chairman and CEO of Ballantyne Strong, commented, “We are excited to welcome Ndamukong to the board of directors. Ndamukong has a demonstrated passion for business that rivals his passion for football. Ndamukong continues to have a distinguished career as a leader in the NFL. We believe that his experience and leadership ability will be a valuable addition to the board as we continue to execute on our strategic vision for Ballantyne Strong.”

Friend and mentor Warren Buffett, Chairman and CEO of Berkshire Hathaway, commented, “I once said that I was glad he’s not running against me for a board spot. I meant it. I believe that Ndamukong has a bright future as a businessman and I look forward to hearing about his many successes.”

“We are excited to have Ndamukong as an important part of the Miami Dolphins organization. I’m delighted that he has the opportunity to join the board of Ballantyne Strong. I’m supportive of Ndamukong both on and off the field,” commented Stephen Ross, Chairman and Founder of Related Companies and Chairman and Owner of the Miami Dolphins organization.

Mr. Suh, 29, has been a defensive tackle for the Miami Dolphins organization since the 2015 season. Prior to signing with the Miami Dolphins organization, Mr. Suh was a defensive tackle with the Detroit Lions organization from his rookie season in 2010 to his departure in 2015. Mr. Suh has been an investor and partner in numerous real estate and aviation projects and a strategic development partner and investor in numerous businesses. Mr. Suh is the founder of the Ndamukong Suh Family Foundation. Mr. Suh graduated from the University of Nebraska in 2009 with a Bachelor’s degree in Engineering focused on Construction Management.

About Ballantyne Strong, Inc. (www.strong-world.com)

Ballantyne Strong and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the cinema, retail, financial, and government markets.

Forward-Looking Statements

Except for the historical information in this press release, it includes forward-looking statements that involve risks and uncertainties, including but not limited to, quarterly fluctuations in results; customer demand for the Company’s products; the development of new technology for alternate means of motion picture presentation; domestic and international economic conditions; the management of growth; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings. Actual results may differ materially from management’s expectations.

Contact
Ballantyne Strong, Inc.
Nate Legband, 402-829-9404
Chief Financial Officer
Elise Stejskal, 402-829-9423
Investor Relations

Investor Relations Contact 

Mark Roberson
Chief Financial Officer
Ballantyne Strong, Inc.
704-994-8295