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Blonder Tongue Laboratories Inc (BDR) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Blonder Tongue Laboratories Inc

CIK: 1000683 Ticker: BDR
EXHIBIT 99.1


FOR IMMEDIATE RELEASE:

Blonder Tongue Reports Second Quarter 2017 Results

OLD BRIDGE, New Jersey—August 14, 2017—
Blonder Tongue Laboratories, Inc. (NYSE American: BDR) announced its sales and results for the second quarter and six months ended June 30, 2017.

Net sales increased $482,000 or 8.5% to $6,164,000 for the second quarter of 2017 from $5,682,000 for the comparable period in 2016.  Net income (loss) for the three months ended June 30, 2017 was $(231,000) or $(0.03) per share, compared to $73,000 or $0.01 per share for the comparable period in 2016.

The increase in net sales is primarily attributed to an increase in sales of data products offset by a decrease in digital video headend products, analog headend products and HFC distribution products.  Sales of data products were $2,256,000 and $518,000, digital video headend products were $2,059,000 and $2,835,000, analog headend products were $450,000 and $653,000 and HFC distribution products were $905,000 and $1,044,000 in the second three months of 2017 and 2016, respectively.

For the six month period ended June 30, net sales increased $512,000, or 4.4%, to $12,137,000 in 2017 from $11,625,000 in 2016.  Net loss for the six months ended June 30, 2017 was $(487,000) or $(0.06) per share, compared to $(215,000) or $(0.03) per share for the comparable period in 2016.

The increase in net sales is primarily attributed to an increase in sales of data products offset by a decrease in digital video headend products, analog headend products and contract manufactured products.  Sales of data products were $3,386,000 and $1,277,000, digital video headend products were $5,230,000 and $6,126,000, analog video headend products were $1,036,000 and $1,230,000 and contract manufactured products were $355,000 and $529,000 in the first six months of 2017 and 2016, respectively.

Commenting on the second quarter, Chief Executive Officer Robert J. Palle noted, "Even though we achieved a year over year sales increase for both the first and second quarters of 2017, we are disappointed that we were not able to show net earnings for either period.  We are encouraged by the increase in sales of our data products and were not surprised by the decrease in digital video headend products, as sales of those products had been buoyed by the large retail chain rollout in the first and second quarters of 2016. The Company's research and development teams have been working on a new series of digital products that we anticipate introducing in the fourth quarter of 2017. We remain, however, cautious with regard to the market outlook and therefore continue to anticipate that sales are likely to remain flat for the remainder of 2017."

Conference Call Reminder
Details of the live teleconference:
Date: Monday, August 14, 2017
Time: 11:00 a.m. Eastern Time (10:00 a.m. CT, 8:00 a.m. PT)
Investor Dial-in (US & Canada Toll-Free):  866-682-6100

The audio replay will be available under Investor Related Information on the Blonder Tongue Investor Relations webpage.

The following information was filed by Blonder Tongue Laboratories Inc (BDR) on Monday, August 14, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Blonder Tongue Laboratories Inc provided additional information to their SEC Filing as exhibits

Ticker: BDR
CIK: 1000683
Form Type: 10-Q Quarterly Report
Accession Number: 0001144204-17-042698
Submitted to the SEC: Mon Aug 14 2017 9:02:50 AM EST
Accepted by the SEC: Mon Aug 14 2017
Period: Friday, June 30, 2017
Industry: Radio And Tv Broadcasting And Communications Equipment

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