Ballantyne of Omaha Completes Acquisition of National Cinema Service Corp.OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb. -- Ballantyne Ballantyne may refer to: Places
In currencies, this is the abbreviation for the Bhutan Ngultrum. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ), a provider of motion picture projection, specialty lighting and digital cinema equipment and services, today announced that it completed the acquisition of the assets of National Cinema Service Corp. (NCSC (National Computer Security Center) The arm of the U.S. National Security Agency that defines criteria for trusted computer products, which are embodied in the Orange Book and Red Book. ), a national provider of cinema services including film and digital projector See data projector. maintenance, repair, equipment installations, site surveys and other theatre services. The acquisition was funded with available cash. The NCSC assets and technical organization will form the core of a service offering - Strong Technical Services, Inc., a wholly-owned subsidiary of Ballantyne - being established to serve the growing digital cinema marketplace. NCSC provides cinema services on a national basis to customers in 31 states, with annual revenues of approximately $5 million. The Company has garnered a strong industry reputation for quality work, responsiveness and an experienced technical team that possesses, on average, 11 years of direct industry experience. Effective with the closing of the acquisition, NCSC President Chris CHRIS Chemical Hazards Response Information System (US DoD) CHRIS California Historical Resources Information System CHRIS Computerized Human Resources Information System CHRIS Command Human Resources Intelligence System Pierce Pierce may refer to: Places
John P. Wilmers, President and Chief Executive Officer of Ballantyne, commented, "Like Ballantyne, NCSC is a long established leader in the cinema services market, with a respected professional staff and a loyal, national customer base. The addition of NCSC represents important progress in our strategy to position the Company to address the near- and long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. growth opportunities in the digital cinema market. We view NCSC as an excellent platform for future growth that will add value to our installation and 'after-sale' activities and help position Ballantyne as a leading provider of products and services in the digital cinema market." About Ballantyne of Omaha Ballantyne is a provider of motion picture projection, specialty lighting and digital cinema equipment and services. The Company also supplies specialty projection equipment utilized by major theater chains and location-based entertainment providers and manufactures specialty entertainment lighting products used at top arenas, television and motion picture production studios, theme parks and architectural sites around the world. Except for the historical information in this press release, it includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion