Blonder Tongue Reports 2007 Third Quarter Results.OLD BRIDGE, N.J. -- 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 ) today announced its sales and earnings for the third quarter ended September 30, 2007. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight 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 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 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 Cost of goods sold The total cost of buying raw materials, and paying for all the factors that go into producing finished goods. 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 continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the 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 A network that supports both data and voice and/or different networking protocols. See converged network and new public 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 Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 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 Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial 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. [TABLE OMITTED] [TABLE OMITTED] |
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