Blonder Tongue Reports 2002 Year-End and Fourth Quarter Results.

Business Editors/High-Tech Writers

OLD BRIDGE, N.J.--(BUSINESS WIRE)--March 31, 2003

Blonder Tongue Laboratories, Inc. (AMEX: "BDR") today announced its sales and earnings for the fourth quarter and full year ended December 31, 2002.

Net sales for fiscal year 2002 were $46,951,000 compared to the $53,627,000 reported in fiscal year 2001. The decrease in net sales is primarily attributed to a decrease in capital spending by cable system operators and generally weak economic conditions. The higher net sales recorded in the prior fiscal year were primarily attributable to larger interdiction sales. Interdiction sales in 2002 were approximately $3,736,000, compared to approximately $7,962,000 in 2001. The Company's gross profit margin decreased to 27% from 31% in the prior year due to greater sales of lower margin products, including the Motorola QAM receiver, which was introduced in the fourth quarter of 2001. Operating income was $1,724,000 compared to $3,290,000 reported in 2001. The reduction in operating income was attributable to reduced interdiction sales offset by a $1,407,000 reduction in selling, general and administrative expenses and research and development expenses (excluding the effect of not amortizing goodwill in accordance with new accounting pronouncements). Net earnings before cumulative effect of change in accounting principle were $429,000 or $0.06 per share (diluted) compared to $1,217,000 or $0.16 per share (diluted) for the comparable period in 2001. In connection with a change in accounting rule relating to the treatment of goodwill as prescribed by Statement of Financial Accounting Standards No. 142, the Company recorded a one-time non-cash non-operating charge of $6,886,000 in the first quarter of 2002, resulting in a net loss of $6,457,000 or $0.84 per share in 2002.

Net sales for the fourth quarter 2002 were $11,633,000 compared to the $14,066,000 reported for the fourth quarter of 2001. The Company had an operating loss of $325,000 for the period compared to $81,000 of operating income for the comparable period of 2001. There was a net loss of $323,000 for the fourth quarter of 2002, compared to a $109,000 net loss reported for the fourth quarter of 2001. Diluted net loss per share for the fourth quarter of 2002 was $0.04, compared with diluted net loss per share for the fourth quarter of 2001 of $0.01.

James A. Luksch, Chairman and Chief Executive Officer commented, "2002 was an incredibly difficult year, not only for the cable television industry, but for the country in general, and Blonder Tongue has been no exception. But by broadening our business into new markets and reducing operating expenses, we have remained profitable, before giving effect to the one-time charge against goodwill. We introduced our digital cable QT line of products at the end of 2001 and sales of those products grew to more than $6.2 million in 2002. We have also expanded our business to include private cable operations and a new telephone program. These efforts have reduced our dependence on our traditional sales base and diversified our revenue-side opportunities."

Commenting on future opportunities, Mr. Luksch continued, "We are optimistic that our proactive efforts and ability to respond quickly to changing market conditions and opportunities, will result in stronger performance in calendar year 2003. We anticipate that significant sales and profits from the telephone venture should be apparent in the second half of the year. Assuming little improvement in the overall market and limited growth in sales due to the telephony offering, our conservative guidance for 2003 is $52 million in sales and net income of $0.21 per share."

Blonder Tongue Laboratories is a designer, manufacturer, and supplier of a comprehensive line of electronics and systems equipment for the franchised and private cable television industries. Founded in 1950, Blonder Tongue offers a comprehensive product line and has grown to be one of the leaders in cable television equipment manufacturing. For more information regarding Blonder Tongue or its products, please visit the Company's Internet site at www.blondertongue.com or contact the Company directly at [phone].

"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, 2001 and December 31, 2002 (See Item 1: Business 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", 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.

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


                        Three months ended
                           December 31,     Twelve months ended
                           (unaudited)          December 31,
                        ----------------     --------------
                         2002      2001       2002    2001
                        ------    ------     ------  ------
Net Sales              $11,633   $14,066    $46,951 $53,627
Gross Profit             2,612     3,225     12,756  16,699
Earnings (loss)
 from operations          (325)       81      1,724   3,290
Net earnings (loss)       (323)     (109)    (6,457)  1,217

Net earnings
 (loss) per share:
Basic                  $ (0.04)   ($0.01)    ($0.84) $ 0.16
Diluted                $ (0.04)   ($0.01)    ($0.84) $ 0.16
Weighted average
 shares outstanding:
Basic                    7,581     7,613      7,604   7,613
Diluted                  7,581     7,613      7,604   7,637



                  Consolidated Summary Balance Sheets
                            (in thousands)

                                    Dec. 31,  Dec. 31,
                                    2002      2001
                                    -------   --------
Current assets                      $34,774   $42,400
Property, plant and equipment, net    6,831     7,137
Total assets                         52,002    64,386
Current liabilities                   4,457    11,146
Long-term liabilities                14,278    13,278
Stockholders' equity                 33,267    39,962
Total liabilities
 and stockholders' Equity          $ 52,002   $64,386