-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CoNFz/m/iQL5QLaP+fx5CxRux/QIife7E3ujJZSkkBefTIbfMmM7/3hpB9wdTK3i ECJVHqiR1Jg25lja4PzpHw== 0001177456-04-000274.txt : 20040812 0001177456-04-000274.hdr.sgml : 20040812 20040812154709 ACCESSION NUMBER: 0001177456-04-000274 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040812 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040812 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLONDER TONGUE LABORATORIES INC CENTRAL INDEX KEY: 0001000683 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 521611421 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14120 FILM NUMBER: 04970362 BUSINESS ADDRESS: STREET 1: ONE JAKE BROWN RD STREET 2: PO BOX 1000 CITY: OLD BRIDGE STATE: NJ ZIP: 08857 BUSINESS PHONE: 9086794000 MAIL ADDRESS: STREET 1: ONE JAKE BROWN ROAD CITY: OLD BRIDGE STATE: NJ ZIP: 08857 8-K 1 blonder8k081204.txt FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 12, 2004 --------------- Blonder Tongue Laboratories, Inc. ------------------------------------------------------ (Exact Name of registrant as specified in its charter) Delaware 1-14120 52-1611421 - ---------------------------- ------------------------ --------------- (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) One Jake Brown Road, Old Bridge, New Jersey 08857 ------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (732) 679-4000 -------------- Not Applicable ------------------------------------------------------------- (Former name or former address, if changed since last report) Item 7. Financial Statements and Exhibits --------------------------------- (a) Not applicable (b) Not applicable (c) The following exhibits are filed herewith: Exhibit 99.1 Press Release dated August 12, 2004. Item 12. Results of Operations and Financial Condition --------------------------------------------- On August 12, 2004, the Company issued a press release announcing its unaudited financial results for the second quarter ended June 30, 2004. Subsequently, the Company realized that its press release dated August 12, 2004 incorrectly referenced "earnings for the second quarter 2003" in the second paragraph. The Company immediately issued a corrected press release dated August 12, 2004 correcting this information to reference "earnings for the second quarter 2004." A copy of the subsequent corrected press release is attached to this Report as Exhibit 99.1 and is incorporated herein by reference. 2 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BLONDER TONGUE LABORATORIES, INC. By: /s/ Eric Skolnik ------------------------------------- Eric Skolnik Senior Vice President and Chief Financial Officer Date: August 12, 2004 3 EXHIBIT INDEX Exhibit No. Description - ----------- ----------- Exhibit 99.1 Press Release of the Company dated August 12, 2004 4 EX-99 2 blonder8k081204ex99_1.txt EXHIBIT 99.1 EXHIBIT 99.1 [LOGO] One Jake Brown Road BLONDER Old Bridge, NJ 08857-1000 TONGUE (732) 679-4000 Fax (732) 679-4353 LABORATORIES, INC. www.blondertongue.com For Immediate Release: Contact: James A. Luksch - ---------------------- Chairman and August 12, 2004 Chief Executive Officer (732) 679-4000 BLONDER TONGUE REPORTS 2004 SECOND QUARTER RESULTS -------------------------------------------------- OLD BRIDGE, NEW JERSEY, August 12, 2004 - Blonder Tongue Laboratories, Inc. (AMEX: "BDR") today reported net sales of $10,917,000 for the second quarter 2004, a 27.9 percent increase over net sales of $8,534,000 reported in the second quarter 2003. Earnings for the second quarter 2004 were $236,000, or $0.03 per share, a marked improvement over last year's net loss of $390,000, or ($0.05) per share, for the comparable period. Commenting on the second quarter 2004 results, James A. Luksch, Chief Executive Officer, said, "As we predicted in Blonder Tongue's first quarter 2004 earnings release, the anticipated increased sales in core, telephony, and high speed data products and services were realized and the Company returned to profitability. Activity in digital products also rebounded in the second quarter. Looking forward to the balance of the year, we anticipate continued progress in all areas, fueled by increased sales of the Company's unique Voice, Video and Data solution products." New product sales for Telephony and Data lines totaled $495,000 in the second quarter 2004, increased from $5,000 in the second quarter 2003. Digital product sales were $793,000, increased from $223,000 in the comparable period in 2003. Also included in net sales are revenues from BDR Broadband of $393,000, a 64%increase over the $239,000 reported for the comparable period in 2003. Founded in 1950, Blonder Tongue Laboratories is a leading U.S. designer, manufacturer, and supplier of a comprehensive line of broadband systems equipment and technical engineering services for Voice, Video and Data service providers. With optimized technologies, simplified deployment and qualified technical assistance, the service provider reduces costs, increases customer satisfaction and increases profitability. 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, 2003 (See Item 1: Business 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", "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. -MORE- Blonder Tongue Laboratories, Inc. Consolidated Summary of Operating Results (in thousands, except per-share data) (unaudited)
Three months ended Six months ended June 30, June 30, ------------------- -------------------- 2004 2003 2004 2003 -------- -------- -------- -------- Net sales $ 10,917 $ 8,534 $ 19,446 $ 17,136 Gross profit 3,080 2,675 6,021 4,834 Earnings (loss) from operations 247 (353) 125 (1,304) Net earnings (loss) 236 (390) (161) (1,148) Net earnings (loss) per share: Basic $ 0.03 $ (0.05) $ (0.02) $ (0.15) Diluted $ 0.03 $ (0.05) $ (0.02) $ (0.15) Weighted average shares outstanding: Basic 8,002 7,500 7,999 7,519 Diluted 8,026 7,500 7,999 7,519
Consolidated Summary Balance Sheets (in thousands) June 30, 2004 December 31, 2003 ------------- ----------------- (unaudited) Current assets * $19,431 $18,951 Property, plant, and equipment, net 6,271 6,652 Total assets 46,240 47,990 Current liabilities 10,150 6,305 Long-term liabilities 4,291 9,745 Stockholders' equity 31,799 31,940 Total liabilities and stockholders' equity $46,240 $47,990 * Includes reclass of non-current inventory 2 -----END PRIVACY-ENHANCED MESSAGE-----