Blonder Tongue Laboratories reports its first quarter results.OLD BRIDGE, N.J.--(BUSINESS WIRE)--May 14, 1996--Blonder Tongue Laboratories, Inc. (AMEX AMEX See: American Stock Exchange : BDR BDR Border BDR Bangladesh Rifles (military forces in Bangladesh) BDR Backup Designated Router (networking) BDR Bombardier (artillery rank) BDR Backup Disaster Recovery ), a manufacturer of electronics and systems equipment for the franchised and private cable television industries, today reported its first quarter results. First quarter 1996 revenues were $11,572,000 as compared to $11,864,000 in the first quarter of 1995. Net earnings and net earnings per share for the first quarter of 1996 were $590,000 and $.07 respectively, compared with $980,000 pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma net earnings and $.16 pro forma net earnings per share achieved for the first quarter of 1995. Excluding the dilutive effect Dilutive effect Result of a transaction that decreases earnings per common share (EPS). of the initial public offering on the weighted average shares outstanding, earnings per share would have declined $.06 compared to a year ago. For the first quarter of 1995, net earnings are presented on a pro forma basis as if the company were taxable as a C corporation. The company was operated as an S corporation until December 11, 1995. Commenting on the announcement, James A. Luksch, chairman of the board, president and chief executive officer said, "Revenues in the first quarter were below expectations due primarily to longer than anticipated accelerated life testing of our new VideoMask(TM) interdiction INTERDICTION, civil law. A legal restraint upon a person incapable of managing his estate, because of mental incapacity, from signing any deed or doing any act to his own prejudice, without the consent of his curator or interdictor. 2. product and lower than anticipated shipments to one of our largest customers. This resulted in reduced shipments to the MDU (1) (Multiple Dwelling Unit) A commercial or residential building with multiple offices or apartments. See BLEC. (2) (Multiply-Divide Unit) A high-speed circuit that performs multiplication and division within the CPU. market during the first quarter, but sales to the lodging market were quite strong for the period, up more than 35% when compared to the same period last year. Long term market demand still appears strong for the full range of Blonder Tongue's traditional products and appears especially strong in interdiction. We anticipate that the conditions which impacted first quarter results will begin to improve during the second quarter and that shipments for the year will be strongest in the third and fourth quarters." Blonder Tongue's products are used in the acquisition, conversion, distribution and protection of television signals. Its customers typically provide television services to apartments and condominiums, hotels, motels Motels may refer to any of the following:
CONTACT: Blonder Tongue Laboratories, Inc. James A. Luksch, President 908/679-4000 |
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