OLD BRIDGE, New Jersey - //Accesswire// - November 14, 2013 -
Blonder Tongue Laboratories, Inc. (NYSE MKT:BDR) announced its
sales and results for the third quarter and nine months ended
September 30, 2013.
Net sales decreased $1,787,000 or 20.8%, to $6,823,000 in the
third three months of 2013 from $8,610,000 in the third three
months of 2012. Net loss for the three months ended September
30, 2013 was $(688,000) or $(0.11) per share, compared to earnings
of $91,000 or $0.01 per share for the comparable period in
2012.
Sales of digital video headend products were $2,901,000 and
$4,246,000, sales of HFC distribution products were $1,066,000 and
$1,516,000 and sales of contract manufactured products were
$772,000 and $538,000 in the third three months of 2013 and 2012,
respectively.
For the nine month period ended September 30, net sales
decreased $2,233,000, or 9.7%, to $20,688,000 in 2013 from
$22,921,000 in 2012. Net loss for the nine months ended
September 30, 2013 was $(1,830,000) or $(0.29) per share, compared
to $(1,972,000) or $(0.32) per share for the comparable period in
2012.
Sales of analog video headend products were $4,250,000 and
$5,238,000, digital video headend products were $9,309,000 and
$10,720,000, HFC distribution products were $3,302,000 and
$3,962,000 and contract manufactured products were $2,802,000 and
$1,684,000 in the first nine months of 2013 and 2012,
respectively.
Commenting on the third quarter 2013, Chairman and Chief
Executive Officer James A. Luksch noted, "Our third quarter
performance remains disappointing. Our sales efforts continue
to be on track but as stated in previous releases, are taking
longer to close. We are also feeling the impact of
manufacturing efficiencies which is causing our gross margin to be
reduced in the current period, with the expectation that the
margins will improve in future quarters."
"The efforts we have made in negotiating with customers for
significant orders of our equipment are getting closer to being
realized. We expect that our performance in the fourth
quarter 2013 and the first quarter 2014 will be improved when
compared to the prior several quarters" Mr. Luksch continued.
Conference Call Reminder
Details of the live teleconference and webcast are as follows:
-
Date:
Thursday, November 14, 2013
-
Time:
11:00 a.m. Eastern Time (10:00 a.m. CT, 8:00 a.m. PT)
- Investor Dial-in (US & Canada Toll-Free):
877-407-8033
- Live Webcast: http://goo.gl/lglO1H
The teleconference replay can be accessed until February 14,
2014, by dialing 877-660-6853 and using conference ID # 13572860.
The webcast link will be available under Investor Related
Information on the Blonder Tongue Investor
Relations webpage.
About Blonder Tongue
Blonder Tongue Laboratories, Inc. together with R. L. Drake
Holdings, LLC - its wholly owned subsidiary - offer customers more
than 130 years of combined engineering and manufacturing excellence
with solid histories of delivering reliable, quality
products. As a leader in the field of Cable Television
Communications, the Company provides system operators and
integrators serving the cable, broadcast, satellite, IPTV,
institutional and professional video markets with comprehensive
solutions for the provision of content contribution, distribution
and video delivery to homes and businesses. The Company designs,
manufactures, sells and supports an equipment portfolio of standard
and high definition digital video solutions, as well as core analog
video and high speed data solutions for distribution over coax,
fiber and IP networks. Additional information on the Company
and its products can be found at http://www.blondertongue.com/, and
http://www.rldrake.com/.
"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, 2012 (See Item 1: Business,
Item 1A: Risk Factors, Item 3: Legal Proceedings 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", "project", "target",
"intend", "plan", "seek", "estimate", "endeavor", "should",
"could", "may" and similar expressions are intended to identify
forward-looking statements. In addition, any statements that
refer to projections for our future financial performance, our
anticipated growth trends in our business and other
characterizations of future events or circumstances are
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.
Contacts
Eric Skolnik
Chief Financial Officer
eskolnik@blondertongue.com
(732) 679-4000
James A. Luksch
Chief Executive Officer
jluksch@blondertongue.com
(732) 679-4000
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