Blonder Tongue Reports Preliminary First Quarter 2010 Results and Corrective Disclosure
April 29 2010 - 3:56PM
Business Wire
Blonder Tongue Laboratories, Inc. (NYSE Amex: “BDR”)
today announced the following preliminary, unaudited financial
results for the first quarter ended March 31, 2010.
Net sales $ 5,594,000 Gross profit $ 2,515,000 Net loss $
(205,000)
The Company also expects to issue its traditional, more
comprehensive press release on financial results on or about May 6,
2010.
In addition, a senior officer of the Company today posted an
unauthorized message on an internet message board stating his
personal sentiments regarding the Company and its prospects. The
Company promptly posted a response disclaiming the statements made
by this officer. A copy of the officer’s posting and the Company’s
response thereto are set forth below:
Unauthorized Message Posted By
Bob Palle, President of the Company on a Yahoo Finance message
board:
“Re: Strategy of BDR? At BT we are in
the process of grooming the next generation of management. The last
CC was reasonably benign as the numbers were in line with
expectations. I chose to allow Ms Nikoo to represent me on this
particular call. I think she performed wonderfully. Did you have
any questions she could not answer? re my ownership....Come on
girls, I am a buyer, and still a buyer, but the SEC window must be
open to buy Bob Palle
Sentiment : Strong Buy”
Corrective Response Posted by
the Company
“This message is authorized by Blonder Tongue Laboratories,
Inc. ("Company") and is made in response to the unauthorized
message posted this morning at 10:12 a.m. by Bob Palle, the
Company's President, in which he expressed his personal sentiments
regarding the Company and its prospects. The Company hereby
expressly disclaims the statements made by Mr. Palle in his
message. As a matter of policy, the Company does not provide
guidance or sentiment about its prospects or financial performance,
other than as may be provided in Company sanctioned press releases
issued via the national wire services (such as Business Wire) or in
the Company's periodic filings with the Securities and Exchange
Commission (such as Forms 8-K, 10-K and 10-Q). Accordingly, please
disregard Mr. Palle's message posted this morning and review the
Company's press releases and SEC filings.”
About Blonder Tongue
(www.blondertongue.com)
Blonder Tongue Laboratories, Inc. provides professional
solutions for content contribution, distribution and video delivery
to the home or business serving cable, broadcast, satellite, IPTV,
institutional and professional video markets. With nearly 60 years
of experience, the company designs, manufactures, sells and
supports an equipment portfolio of digital and core analog video
solutions, as well as high speed data and telephony for
distribution over coax, fiber and IP networks.
“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, 2009 (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”, “indications”, “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.
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