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BRIEF-Ballantyne Strong says identified two misstatements in FY2016 financial statements during preparation of March quarter 10-Q
May 11, 2017 / 8:39 PM / 3 months ago

BRIEF-Ballantyne Strong says identified two misstatements in FY2016 financial statements during preparation of March quarter 10-Q

May 11 (Reuters) - Ballantyne Strong Inc

* Ballantyne Strong says during preparation of March quarter form 10-Q, identified two misstatements in FY 2016 consolidated financial statements

* Ballantyne Strong Inc says investors should no longer rely upon company's previously released financial statements for year ended December 31, 2016

* Ballantyne Strong says on May 9, 2017, company's management and audit committee of its board decided to file amended form 10-K for FY 2016

* Ballantyne Strong says restated financial statements to be included in amended form 10-K for FY 2016 - sec filing

* Says cannot yet estimate when it will complete restatement and file its amended report

* Qtrly expects to file its form 10-Q for quarter ended March 31, 2017 promptly after restatement is concluded

* Says on May 9, 2017, company suspended its stock repurchase program, effective immediately Source text for Eikon: Further company coverage:

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