Ballantyne Expects Sales After Slump
Posted on: Thursday, 16 March 2006, 15:00 CST
By Jonathan Wegner, Omaha World-Herald, Neb.
Mar. 14--As its quarterly earnings dipped slightly, Ballantyne of Omaha said it expects long-anticipated but slow-to-materialize sales of digital projectors to begin as soon as this summer, necessitating the creation of a digital service network.
The Omaha-based maker of motion picture projection and lighting equipment said 2005 fourth-quarter earnings declined 8.3 percent to $1.1 million, or 8 cents a share, from earnings of $1.2 million, or 9 cents a share, in the year-ago period.
Revenues for the quarter declined to $14 million, down 3 percent from $14.5 million for the quarter a year ago. Ballantyne President and Chief Executive John Wilmers noted that a one-time $2.3 million sale to China generated 15 percent of the 2004 quarter's revenue.
In a conference call Friday, Wilmers said the company is on the verge of booking revenues from digital projection sales and could recognize revenues from sales as soon as this summer.
Ballantyne has partnered with NEC Solutions Inc. to distribute the company's digital projectors. The majority of the product will be manufactured by NEC.
The company's full-year earnings slipped, declining 15.7 percent to $4.3 million, or 31 cents a share, from $5.1 million, or 37 cents a share. Full-year revenues rose 9.6 percent to $53.9 million in 2005 from $49.1 million in 2004.
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BTNE, NIPNY, 6701,
Source: Omaha World-Herald
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