Ballantyne of Omaha Terminates Review of Strategic Alternatives.Business Editors 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.--(BUSINESS WIRE)--March 22, 2000 Ballantyne of Omaha, Inc. (NYSE NYSE See: New York Stock Exchange : BTN BTN 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 leading manufacturer of motion picture projection and entertainment lighting equipment, announced today that it has terminated its review of strategic alternatives for the Company. As part of this determination, Ballantyne has ended the engagement of Donaldson, Lufkin and Jenrette Securities, which had been retained in October 1999 to explore various options for the Company. John P. Wilmers, President and Chief Executive Officer of Ballantyne, commented, "Rather than diverting di·vert v. di·vert·ed, di·vert·ing, di·verts v.tr. 1. To turn aside from a course or direction: Traffic was diverted around the scene of the accident. 2. our attention to the strategic review, we have renewed our focus on Company fundamentals and are implementing a strategy with the ultimate goal of growing long-term profitability. Implementing this strategy was determined by the Board of Directors to be more advantageous than pursuing any of the alternatives that had otherwise become available to the Company." Ballantyne of Omaha is the leading U.S. supplier of commercial motion picture projection equipment utilized by major theater chains including AMC (Advanced Mezzanine Card) See AdvancedTCA. , Loews Cineplex and Regal Cinemas, and specialty projection equipment used by location-based entertainment providers such as The Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co., Universal Studios and others. Ballantyne also manufactures, rents and leases 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 expectations. |
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