This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Blonder Tongue Reports Third Quarter And Nine Month 2011 Results

Stocks in this article: BDR

Blonder Tongue Laboratories, Inc. (NYSE Amex:BDR) today announced its sales and results for the third quarter and nine months ended September 30, 2011. Net sales for the third quarter 2011 were $7,004,000, compared to $9,151,000 for the third quarter 2010. Net loss for the third quarter of 2011 was $(50,000) or $(0.01) per share, compared to net earnings of $721,000 or $0.12 per share for the comparable period in 2010. Net sales for the nine months ended September 30, 2011 were $20,208,000, compared to $23,011,000 for the nine months ended September 30, 2010. Net loss for the nine months ended September 30, 2011 was $(261,000) or $(0.04) compared to net earnings of $1,417,000 or $0.23 for the comparable period in 2010.

The decrease in the Company’s overall performance can be attributed to reduced sales of digital video headend products, which includes the EdgeQAM product subcategory. The expected (and previously disclosed) decrease in EdgeQAM along with a decrease in analog video headend products was offset by an increase in other digital video products as well as contract manufactured products. In addition, the Company continues to benefit from the operating expense reductions previously announced in 2010.

For the third quarter of 2011 and 2010, on a comparative period basis, sales of digital video headend products were $2,190,000 (including $425,000 of EdgeQAM product sales) and $3,744,000 ($2,027,000 of EdgeQAM), respectively. For the same comparative periods, sales of analog video headend products were $1,556,000 and $2,394,000, sales of contract manufactured products were $1,274,000 and $851,000, and operating expenses were $2,439,000 and $2,690,000.

Sales of digital video headend products were $6,794,000 ($1,425,000 of EdgeQAM) and $9,362,000 ($5,063,000 of EdgeQAM) in the first nine months of 2011 and 2010, respectively. For the same comparative periods, sales of analog video headend products were $5,021,000 and $6,347,000, sales of contract manufactured products were $2,837,000 and $1,648,000, and operating expenses were $7,304,000 and $7,966,000.

“While we experienced somewhat disappointing sales in the third quarter and essentially breakeven performance, we remain optimistic. Like other manufacturing companies, we face significant macro-economic challenges due to the state of our National economy. Despite that, we are experiencing positive trends in several areas. Our High Definition Encoder business has increased substantially and should grow even more rapidly as we introduce additional versions with alternative feature sets in the coming months. In addition, our EdgeQAM product continues to dominate the digital–free-to-guest segment of the hospitality market,” said Chairman and Chief Executive Officer James A. Luksch. “On the customer side, several of our most advanced products are being considered by numerous multiple system operators, with evaluation unit deployments underway. It is difficult to quantify these opportunities and while they are generally subject to relatively long lead times, we believe that the products being evaluated represent creative solutions to address specific customer needs at very competitive prices. The present market is difficult, but with the down economy spending habits shift to more affordable options, which is where we shine. With reasonable success in the MSO market we should enjoy a return to profitability in 2012,” he added.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,117.80 +143.49 0.85%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,543.8860 -5.34 -0.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs