BDR Blonder Tongue Laboratories Inc

Blonder Tongue Laboratories, Inc. (AMEX: BDR) today reported net sales of $33,159,000 for the year ended December 31, 2007, a seven percent (7%) decrease over net sales of $35,775,000 reported for the year ended December 31, 2006. The decrease in net sales is primarily attributed to decreased sales of analog headend and interdiction products. Analog headend sales were $16,170,000 and $17,506,000 and interdiction sales were $862,000 and $1,835,000 in 2007 and 2006, respectively. Loss from continuing operations after income taxes was $502,000 or $(0.08) per share for the year ended December 31, 2007 as compared to $96,000 or $(0.01) per share, for the comparable period in 2006. Net loss was $561,000 or $(0.09) per share in 2007 as compared to net income of $342,000 or $0.05 per share for the comparable period in 2006. Commenting on the year end 2007 results, James A. Luksch, Chief Executive Officer, said, �Overall 2007 was a transitional year for us. We endured consolidation in the lodging market as a result of the merger of two of our largest customers in this segment, the effects of which were not felt until the second half of the year. First and second quarter sales were significantly below expectations and gross margins during these periods had not yet benefited from our China initiative. We rebounded in the third quarter and our fourth quarter sales were our best for that quarter, in four years. We also began to see modest increases in gross margins during the fourth quarter, in part due to our China initiative and a beneficial change in our product mix. During 2007, we increased our focus in R&D and expanded our capabilities in digital and IP product development. We also signed on international distributors and have positioned ourselves to take advantage of our international brand recognition. Finally, with the FCC-mandated digital transition set to occur by February 2009, we are developing new digital products for the markets we serve, in an effort to capture the anticipated increase in digital products purchases by customers, necessitated by this historic technological transition.� 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, 2007 (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, 2007 � 2006 � � Net sales $33,159 $35,775 Gross profit 11,309 12,366 Earnings (loss) from operations (36 ) 336 Loss from continuing operations (502 ) (96 ) Loss from discontinued operations (net of tax) - (500 ) Gain (loss) on disposal of subsidiary (59 ) 938 Net income (loss) $(561 ) $342 Basic and diluted loss per share from continuing operations $(0.08 ) $(0.01 ) Basic and diluted loss per share from discontinued operations $ - $(0.06 ) Basic and diluted gain per share on disposal $(0.01 ) $0.12 Basic and diluted net income (loss) per share $(0.09 ) $0.05 Basic and diluted weighted average shares outstanding: 6,222 7,592 Consolidated Summary Balance Sheets (in thousands) � � December 31, 2007 � December 31, 2006 � Current assets $13,160 $14,942 Property, plant, and equipment, net 4,530 4,537 Total assets 25,949 27,222 Current liabilities 5,258 5,431 Long-term liabilities 14 1,559 Stockholders� equity 20,677 20,232 � Total liabilities and stockholders� equity $25,949 $27,222