BTN - BTN STOCK NEWS

Strong Studios, a subsidiary of Ballantyne Strong (NYSE American: BTN), announced the start of production for its new supernatural thriller series, Safehaven, on June 20, 2022, in Winnipeg, Canada. The 10-episode series, created by James Seale, stars Georgie Murphy, Gino Anania, and Bob Frazer. It follows Jenna Frost, a high school comic artist confronting her chilling creations. With a blend of suspense and dark humor, Safehaven aims to resonate with a broad audience. The series is produced in collaboration with The Cartel and distributed by Screen Media.

Ballantyne Strong (NYSE: BTN) reported a remarkable 110% revenue growth in Q1 2022, totaling $10 million compared to $4.8 million the previous year. The company attributed this surge to the recovery in cinema attendance and increased studio releases. Gross profit also rose by 116.5% to $2.5 million. Despite an operating loss of $0.8 million, improvements in net loss were noted at $0.8 million from $2.5 million. The launch of Strong Studios was announced, with $9 million in project guarantees, alongside positive moves from equity holdings.

Ballantyne Strong (BTN) will release its 2022 Q1 financial results on May 11, 2022, after market close. The results, along with a slide presentation, will be available on the company's Investor Relations page. A conference call to discuss these results is scheduled for the same day at 5:00 PM ET, accessible via live webcast or phone. The company operates in various industries, with its Strong Entertainment segment being the largest premium screen supplier in North America.

Ballantyne Strong, Inc. (BTN) announced a four-year partnership with GDC Technology Limited to supply digital cinema servers to Caribbean Cinemas, which operates 583 screens across the Caribbean and Latin America. This agreement includes replacing outdated media servers with GDC's advanced SR-1000 model, accompanied by remote technical support. Caribbean Cinemas values the long-standing relationship for its reliability and innovation. The collaboration aims to enhance moviegoers' experiences while addressing the evolving technological landscape in cinema.

STRONG/MDI Screen Systems, a subsidiary of Ballantyne Strong (NYSE American: BTN), has announced a partnership with Lemmens S.A. in Belgium to expedite cinema screen shipments in Europe and the Middle East. This new cooperation will enable urgent screen deliveries in less than ten days, enhancing customer service in the growing cinema exhibition sectors. The quick-ship program is expected to be operational by June 1, 2022. Both companies express optimism about the reduction of waiting times for clients in these regions.

Ballantyne Strong, Inc. (NYSE American: BTN) announced the acquisition of rights for its original film, The Tank Job, adapted from Norman Miller’s book The Great Salad Oil Swindle. Directed by Alec Sokolow, the film recounts the notorious salad oil scandal of the 1960s. Strong Studios, part of Ballantyne's entertainment segment, aims to produce and distribute this true crime drama, which highlights significant historical events in the capital markets. The company is also developing additional projects and pursuing distribution opportunities.

Ballantyne Strong has announced a proposed initial public offering (IPO) of its subsidiary Strong Global Entertainment through a filed registration statement with the SEC on Form S-1. The offering will include Class A Common Voting Shares, with details on the number of shares and price yet to be determined. The IPO aims to list these shares on the NYSE American under the ticker symbol SGE. ThinkEquity will act as the sole book-running manager for the offering, which is subject to regulatory approval.

Ballantyne Strong, Inc. (NYSE American: BTN) has expanded its Strong Studios executive team with Scott Weinstock appointed as EVP of Development & Production and Melissa Traub as VP of Marketing & Development. Both executives will contribute to the production of multiple original projects, including the horror series Safehaven and the dramedy Flagrant. Weinstock brings extensive experience from the NBA and NHL, while Traub has a background in independent film marketing. This strategic movement aims to strengthen content development within Ballantyne’s entertainment sector.

Ballantyne Strong, Inc. (BTN) reported strong operating results for 2021, with a net income of $0.99 per diluted share, driven by a 25.7% revenue increase to $27 million. The fourth quarter saw a 68% revenue surge to $10 million. Entertainment operations rebounded, aided by an unprecedented backlog of releases. Shareholders’ equity rose to $52 million. The company successfully divested its Convergent segment for $23 million, resulting in a $15 million gain. Future growth is anticipated with the launch of Strong Studios and strengthened partnerships in the cinema industry.