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Quarter High

BDR Up Nearly 50% on Second Quarter Results

Shares of Blonder Ton

Blonder Tongue Laboratories (Amex: BDR) skyrocketed after the company reported second quarter results this morning. Trading up nearly 50% at $1.93 per share on robust volume of 400,000 shares, BDR eclipsed its average daily volume of 7,000 shares.

Blonder Tongue announced its sales and results of operations for the second quarter and six months ended June 30, 2010. Net sales for the second quarter 2010 were $8,266,000, compared to $6,257,000 for the second quarter 2009. Earnings from continuing operations for the second quarter 2010 were $901,000 or $0.15 per share, compared to a loss of $(396,000) or $(0.06) per share for the comparable period of 2009. For the six months ended June 30, 2010, net sales were $13,860,000, compared to $15,190,000 in the comparable period of 2009. Earnings from continuing operations for the first six months of 2010 were $696,000 or $0.11 per share compared to a loss of $(3,000) or almost zero cents per share for the comparable period in 2009.

Commenting on the second quarter and the first six months of 2010, Chairman and Chief Executive Officer James A. Luksch noted, "Blonder Tongue had a solid performance in the second quarter of 2010. All of the important metrics were favorable. Sales were up, gross margin increased (from 35% to 43%) during the quarter and operating expenses are at their restructured low point, resulting in significantly improved profit performance, which we anticipate can be sustained through the end of the year. The recessionary economy has been slow to rebound, but we are seeing a gradual increase in sales of some of our core products. If the overall economy continues to rebound and we are able to continue to increase our penetration of the digital market, Blonder Tongue should embark on an accelerated growth cycle."

The overall sales increase in the second three months of 2010 is primarily attributable to an increase in sales of the Company's digital video headend products and contract manufactured products offset by a decrease in sales of analog video headend products. Sales of digital video headend products were $3,876,000 and $1,406,000, sales of contract manufactured products were $584,000 and $249,000 and analog video headend sales were $2,008,000 and $2,671,000 in the second three months of 2010 and 2009, respectively.

"The sales increase is being driven by the superiority of our digital lineup of products-the encoders and EdgeQAM devices. We are now shipping our second generation of both High Definition and Standard Definition encoders with very positive results, and we have shipped over $2,000,000 of our EdgeQAM product," said Bob Palle, President of Blonder Tongue. "Competition is attacking from all directions, but the superior picture quality of our digital products, which derives from our proprietary software platform and is not dependant on computer processing hardware, provides the best quality-to-cost performance in the high definition television market."

Blonder Tongue 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. With 60 years of experience, the company designs, manufactures, sells and supports 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 http://www.worldmarketmedia.com/779/section.aspx/2162/post/bdr-up-nearly-50-on-second-quarter-results

About the Author

WorldMarketMedia.com (The Global Online Investment Community) is a high traffic stock market, news data website providing cutting edge new media products and services to publicly traded companies worldwide. Our Editor's Desk authors insightful real-time coverage on the economy, the capital markets and their listed companies.

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