Blonder Tongue Reports 2006 Year End Results
April 03 2007 - 8:00AM
Business Wire
Blonder Tongue Laboratories, Inc. (AMEX: BDR) today reported net
sales of $35,775,000 for the year ended December 31, 2006, a three
percent (3%) increase over net sales of $34,730,000 reported for
the year ended December 31, 2005. The increase in net sales is
primarily attributed to increased sales of digital headend and
fiber products, offset by decreased sales of interdiction and
analog headend products. Digital headend sales were $5,715,000 and
$4,725,000, fiber sales were $1,731,000 and $1,027,000,
interdiction sales were $1,835,000 and $2,054,000 and analog
headend sales were $17,506,000 and $17,901,000 in 2006 and 2005,
respectively. Loss from continuing operations after income taxes
was $ 96,000 or $(0.01) per share for the year ended December 31,
2006 as compared to $4,956,000 or $(0.62) per share, for the
comparable period in 2005. Net income was $342,000 or $0.05 per
share in 2006 as compared to a net loss of $5,500,000 or $(0.69)
per share for the comparable period in 2005. Commenting on the year
end 2006 results, James A. Luksch, Chief Executive Officer, said,
�2006 was a year of consolidation and refocus of our attention to
core market needs, as contemplated by our strategic plan. In
response to the ongoing transition from analog to digital
transmission of video signals, we have added several new products
to our digital product offerings and continue to evaluate
additional new digital product opportunities. The results are
increased sales, reduced debt and corresponding interest expense
and increased gross margin. Our initiative in China is on course
and gaining momentum, which should produce noticeable benefits in
the second half of 2007 and increase in later time periods.�
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 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� 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, 2006 (See Item 1: Business, Item 1A: Risk Factors 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,� �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. Blonder
Tongue Laboratories, Inc. Consolidated Summary of Operating Results
(in thousands, except per-share data) � Year ended December 31,
2006� 2005� � Net sales $35,775� $34,730� Gross profit 12,366�
7,331� Earnings (loss) from operations 336� (3,724) Loss from
continuing operations (96) (4,956) Loss from discontinued
operations (net of tax) (500) (544) Gain on disposal of subsidiary
938� -� Net income (loss) $342� $(5,500) Basic and diluted loss per
share from continuing operations $(0.01) $(0.62) Basic and diluted
loss per share from discontinued operations $(0.06) $(0.07) Basic
and diluted gain per share on disposal $0.12� -� Basic and diluted
net income (loss) per share $0.05� $(0.69) Basic and diluted
weighted average shares outstanding: 7,592� 8,015� Consolidated
Summary Balance Sheets (in thousands) � December 31, 2006 December
31, 2005 � Current assets $14,942� $15,144� Property, plant, and
equipment, net 4,537� 6,184� Total assets 27,222� 32,864� Current
liabilities 5,431� 8,036� Long-term liabilities 1,559� 3,329�
Stockholders� equity 20,232� 21,499� � Total liabilities and
stockholders� equity $27,222� $32,864�
Blonder Tongue Laborator... (AMEX:BDR)
Historical Stock Chart
From Sep 2024 to Oct 2024
Blonder Tongue Laborator... (AMEX:BDR)
Historical Stock Chart
From Oct 2023 to Oct 2024