Today, Blonder Tongue Laboratories announced its third quarter and nine months sales and results for the period ended Sept. 30, 2012.
The company’s net sales increased $1,606,000, or 22.9 percent, from $7,004,000 in the third three months of 2011 to $8,610,000 in the third three months of 2012. This increase is chiefly attributed to a rise in digital video headend product sales, offset by a decrease in contract manufactured product sales. Digital video headend product sales were $4,246,000 in the third three months of 2012, as compared with $2,190,000 in the third three months of 2011; contract manufactured product sales were $583,000 in the third three months of 2012, in contrast to $1,274,000 for the same period of 2011. Blonder Tongue’s contract manufactured product sales have not been negatively impacted by the previously reported termination of business dealings with Buffalo City; however, recent declines in sales volume to XATA have been experienced. The acquisition of RLD added $1,851,000 to net sales for the third three months of 2012.
Net earnings for the company were $91,000, or $0.01 per share, for the third three months of 2012; this is in comparison to a net loss of $50,000, or $0.01 per share, for the same period in 2011.
Blonder Tongue’s net sales increased $2,713,000, or 13.4 percent, from $20,208,000 in the first nine months of 2011 to $22,921,000 in the first nine months of 2012. This increase is chiefly due to an increase in digital video headend product sales and offset by a reduction in contract manufactured product sales. Digital video headend product sales increased from $6,794,000 in the first nine months of 2011 to $10,720,000 in the first nine months of 2012; contract manufactured product sales decreased from $2,837,000 in the first nine months of 2011 to $1,684,000 in the first nine months of 2012. The RLD acquisition added $3,252,000 to net sales for the first nine months of 2012.
Blonder Tongue has experienced – and expects to continue experiencing – a shift in product mix from analog products to digital products.
Net loss for the company increased from $261,000, or $0.04 per share, for the first nine months of 2011 to $1,972,000, or $0.32 per share, for the first nine months of 2012.
Blonder Tongue Laboratories, together with its wholly owned subsidiary R.L. Drake Holdings LLC, offers customers more than 130 combined years of engineering and manufacturing expertise, as well as proven track records of delivering reliable, quality products. A leader in the cable television communications field, 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. Blonder Tongue is engaged in designing, manufacturing, selling, and supporting 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.
For more information, visit www.blondertongue.com
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