Ballantyne of Omaha, Inc. (NYSE Alternext US: BTN), a provider of cinema equipment and services, announced today that its Strong Digital Systems (SDS) division will provide 35 NEC STARUS(TM) Digital Cinema projectors with REAL D 3-D technology to theatre chains including Regal Entertainment Group and National Amusements, Inc.
The projectors shipments and installations are being completed in time for the November 21st release of Walt Disney Pictures’ animated feature film "Bolt" in Disney Digital 3-D. Ballantyne’s Strong Technical Services subsidiary is performing a majority of the installations, and a majority of the specialty silver screens are being procured from the Company’s Strong Screen Systems business.
Digital Link II, LLC, an entity formed and co-financed by REAL D and Ballantyne, will fund the projector purchases. Specific financial terms were not disclosed.
John P. Wilmers, President and CEO of Ballantyne, commented, "3-D is a very compelling theatre experience and a strong driver for the early adoption of digital cinema technology. We are pleased to extend our partnership with REAL D to deliver their state of the art 3-D digital projection solutions, in conjunction with NEC Starus projectors, to support our customers’ plans for ‘Bolt.’
"The momentum for digital cinema is accelerating, supported by a growing slate of 3-D releases and the anticipation of large scale funding for digital conversions. 2009 is shaping up to be a period of strong demand, and Ballantyne/Strong is well positioned to deliver the expertise, specialized services and equipment our customers will need to tap this powerful new cinema technology."
About REAL D
RealD is the global leader in 3D, bringing the most advanced and enjoyable digital 3D experience to cinemas worldwide. RealD’s next-generation technology, deployed across the world’s largest 3D platform in 27 countries with more than 1, 400 installations worldwide, provides a stunningly realistic viewing experience beyond the usual concepts of 3D cinema. The impact of 3D upon today’s moviemaking has been compared to the advent of color film when once there was only black and white. Beyond cinema, RealD is the worldwide inventor and provider of key stereoscopic technologies used in science, manufacturing, marketing, and other industries, with thirty years of scientific development behind its systems. RealD’s mission-critical 3D visualization technologies are used by organizations such as NASA, Pfizer, BMW, Boeing and more. For more information, visit RealD.com.
About Ballantyne of Omaha
Ballantyne is a provider of motion picture projection, digital cinema projection, cinema screen technology and specialty lighting equipment and services. The Company supplies major theater chains, top arenas, television and motion picture production studios, theme parks and architectural sites around the world. For more information visit ballantyne-omaha.com.
Except for the historical information in this press release, it includes forward-looking statements 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. Ballantyne assumes no obligation to publicly update or revise any forward-looking statements.
Ballantyne of Omaha
Kevin Herrmann, 402-453-4444
Jaffoni & Collins Incorporated
David Collins / Ratula Roy, 212-835-8500