Ballantyne Strong, Inc (NYSE MKT:BTN) Q3 2019 Earnings Conference Call - Final Transcript

Nov 12, 2019 • 08:30 am ET


Ballantyne Strong, Inc (NYSE MKT:BTN) Q3 2019 Earnings Conference Call - Final Transcript


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Greetings. Welcome to Ballantyne Strong Inc. Third Quarter 2019 Earnings Call. [Operator Instructions] Please note this conference is being recorded.

I'll now turn the conference over to Kyle Cerminara, Chief Executive Officer and Chairman of Directors; and Mark Roberson, Chief Financial Officer of Ballantyne Strong. Thank you. You may begin.

Mark Roberson

Welcome to Ballantyne Strong's Earnings Conference Call for the Third Quarter Ended September 30, 2019. Before we begin, I'd like to remind everyone that some statements made on this call will be forward looking in nature. These statements are based on management's current views and expectations as of today and the Company is under no obligation and expressly disclaims any obligation to update forward-looking statements, except as required by law. These statements are also subject to risks and uncertainties that may cause actual results to differ materially from those described in today's call. Risks and uncertainties are also described in the Company's SEC filings. Today's presentation and discussion also contains references to non-GAAP financial measures.

The definition of non-GAAP terms and reconciliations to GAAP measures are available in the earnings release posted in the Investor Relations section of our website. Our non-GAAP measures may not be comparable to those used by other companies, and we encourage you to review and understand all of our financial reporting before making any investment decisions. At this time, I would At this time, I'd like to turn the call over to Kyle.

D. Kyle Cerminara

Thanks, Mark. Good morning, and thank you for joining us on our call today. Today, I'm going to spend a few minutes talking about our business and strategy and then hit on the key financial highlights before I turn it over to Mark to go onto the financials in more detail. We started doing quarterly conference calls shortly after Mark joined us a year ago, and we plan on doing calls going forward on a regular quarterly basis. Investor Relations will continue to improve as we build on our key strategic initiatives and have more to share with the investment community.

We expect to expand our Investor Relations to include additional opportunities from our current and prospective shareholders to learn more about the Company. There are a few key business, strategic and financial items I would like to highlight today. All three of our businesses have seen improvements in their financial results. We focused on transitioning to higher margin, recurring revenue where we see opportunities to grow. At the same time, we've made decisions to exit businesses where the long-term economics on the products and services we offered did not justify the expenses associated with the business. These were decisions that were made to improve the long-term financial performance of the Company and to improve the overall value for shareholders.

We're excited about where we stand today with our current product suite. Our goal is to position the Company as a more focused and profitable company. Strong Cinema results have improved from earlier this year, and we're making investments in the business so