Ballantyne Board of Directors Discontinues Share Repurchase Program; Capital Allocation to Be Focused on Optimizing Current Operations
Company Repurchased Approximately 575,900 Shares Since January
OMAHA, Neb.--(BUSINESS WIRE)-- Ballantyne Strong, Inc. (NYSE MKT: BTN), a provider of digital cinema projection equipment, screens and services as well as specialty lighting equipment, today announced that its Board of Directors has discontinued the Companys current share repurchase program which was announced on 12/22/2011. Since commencement of the plan, the Company repurchased 575,877 shares for total consideration of $2,756,381, or an average price of $4.79 per share. The Company intends to focus its capital allocation initiatives on optimizing its current operations which include strategic, accretive acquisitions.
About Ballantyne Strong, Inc. (www.strong-world.com)
Ballantyne Strong (BTN) is a provider of digital cinema projection equipment, screens and services as well as specialty lighting equipment. The Company supplies major and independent theater chains, top arenas, theme parks and architectural sites around the world.
Ballantyne Strong, Inc.
Mary A. Carstens, 402-453-4444
Chief Financial Officer
J C I R
Robert Rinderman, Norberto Aja
Source: Ballantyne Strong, Inc.Copyright Business Wire 2012