Ballantyne Strong Inc. posted lower second quarter net income on higher revenues as the Omaha-based digital cinema purveyor sold more less profitable equipment than in previous quarters.
The company Friday said total net income for the quarter was $1.8 million, or 13 cents per share, versus $2.47 million and 17 cents during the same period a year ago.
Revenues for the quarter were $46.7 million, up 24 percent from $37.6 million at the same time last year. But, the company said, it sold fewer specialized cinema screens necessary to show films in 3-D than it did last year, but more digital equipment, which isn't as profitable.
"Earlier this year, we made a strategic decision to shift the company's focus to higher-margin products and services," said Gary Cavey, Ballantyne's president and chief executive. "This shift is ongoing and our margins currently reflect the high concentration of low-margin digital equipment."
Sales of high-margin movie screens were $3.