Blonder Tongue Reports 2007 Third Quarter Results



    OLD BRIDGE, N.J., November 14 /CNW/ - Blonder Tongue Laboratories, Inc.
(AMEX:   BDR) today announced its sales and earnings for the third quarter ended
September 30, 2007.

    Net sales increased $158,000, or 1.7%, to $9,246,000 in the third three
months of 2007 from $9,088,000 in the third three months of 2006. The increase
in sales is primarily attributed to an increase in digital product sales
offset by a decrease in fiber, distribution and interdiction product sales.
Digital product sales were $1,544,000 and $958,000, fiber products sales were
$388,000 and $647,000, distribution product sales were $1,771,000 and
$1,977,000 and interdiction product sales were $151,000 and $319,000 in the
third three months of 2007 and 2006, respectively.

    Cost of goods sold increased to $5,758,000 for the third three months of
2007 from $5,650,000 for the third three months of 2006, and increased as a
percentage of sales to 62.3% from 62.2%. The increase was attributed to an
unfavorable product mix.

    Earnings from continuing operations after income taxes was $572,000 or
$0.09 per share for the third three months of 2007 compared to a $345,000 or
$0.04 per share for the comparable period in 2006.

    Commenting on the third quarter 2007 results, James A. Luksch, Chief
Executive Officer, said, "Our China initiative remains on course and during
the third quarter we started to realize noticeable benefits from reduced costs
due to this effort. This is evidenced by the fact that our gross margin on
sales of products improved from 36.3% in the second quarter of 2007 (after
giving effect to our increase in inventory reserves) to 37.7% in the third
quarter of 2007. We anticipate further improvements in gross margin in the
fourth quarter of 2007 and continuing into 2008. Our third quarter sales were
higher as compared to the prior year and we continued to show improvement
sequentially as our third quarter sales in 2007 were approximately 14% higher
than the second quarter of 2007."

    Founded in 1950, Blonder Tongue Laboratories, Inc. has evolved from a
manufacturer of electronic equipment for the private cable industry to a
principal provider of integrated network solutions and technical services to
broadband service providers in the multiple dwelling unit, lodging and
hospitality, and institutional cable markets. The Company designs,
manufactures, and supplies a comprehensive line of equipment to deliver video
(analog & digital), high speed data and voice services over integrated coaxial
and fiber optic broadband networks today and over packet based, Internet
protocol networks of the future. For more information regarding Blonder Tongue
or its products, please visit the Company's Web site at www.blondertongue.com
or contact the Company directly at (732) 679-4000.

    "Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: The information set forth above includes "forward-looking"
statements and accordingly, the cautionary statements contained in Blonder
Tongue's Annual Report and Form 10-K for the year ended December 31, 2006 (See
Item 1: Business, Item 1A: Risk Factors and Item 7: Management's Discussion
and Analysis of Financial Condition and Results of Operations), and other
filings with the Securities and Exchange Commission are incorporated herein by
reference. The words "believe", "expect", "anticipate", "should", "project",
and similar expressions identify forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which reflect management's analysis only as of the date hereof. Blonder Tongue
undertakes no obligation to publicly revise these forward-looking statements
to reflect events or circumstances that arise after the date hereof. Blonder
Tongue's actual results may differ from the anticipated results or other
expectations expressed in Blonder Tongue's "forward-looking" statements,
including the anticipated gross margin improvements due to the China
initiative.

    
                      Blonder Tongue Laboratories, Inc.
                  Consolidated Summary of Operating Results
                    (in thousands, except per-share data)
                                 (unaudited)

                                      Three months ended Nine months ended
                                        September 30,      September 30,
                                      ------------------------------------
                                         2007     2006    2007     2006
                                      ---------- ------  -------  -------

    Net sales                             $9,246 $9,088  $24,836  $28,567
    Gross profit                           3,488  3,438    8,362    9,748
    Earnings (loss) from operations          694    515     (734)     979
    Earnings (loss) from continuing
    operations                               572    345   (1,092)     330
    Loss from discontinued operations          -   (170)     (59)    (367)
    Net earnings (loss)                     $572   $175  $(1,151)    $(37)
    Basic and diluted earnings (loss)
    per share from continuing
    operations                             $0.09  $0.04   $(0.17)   $0.04
    Basic and diluted loss per share
    from discontinued operations              $- $(0.02)  $(0.01)  $(0.04)
    Basic and diluted net earnings
    (loss) per share                       $0.09  $0.02   $(0.18)      $-
    Basic and diluted weighted average
    shares outstanding:                    6,222  7,515    6,222    7,845
    

    
                     Consolidated Summary Balance Sheets
                                (in thousands)

                                                September 30, December 31,
                                                    2007          2006
                                                ------------- ------------
                                                 (unaudited)

    Current assets                                    $14,204      $14,942
    Property, plant, and equipment, net                 4,313        4,537
    Total assets                                       26,693       27,222
    Current liabilities                                 5,540        5,431
    Long-term liabilities                               1,375        1,559
    Stockholders' equity                               19,778       20,232

    Total liabilities and stockholders' equity        $26,693      $27,222
    




For further information:

For further information: Blonder Tongue Laboratories, Inc. James A.
Luksch, 732-679-4000 Chairman and Chief Executive Officer

Organization Profile

BLONDER TONGUE LABORATORIES, INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890