-----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, PGAsatUgAW2sie6mV0EgYi1WORsox6ktpGMUaNrDOIdCGXg+GiWL+teBUt/Glgux MVYJvTwFvrOGDcUjLYnsVA== 0001307942-05-000026.txt : 20050415 0001307942-05-000026.hdr.sgml : 20050415 20050415104708 ACCESSION NUMBER: 0001307942-05-000026 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050415 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050415 DATE AS OF CHANGE: 20050415 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: 05752447 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 blonder8k033105.htm PRESS RELEASE
                       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): April 15, 2005


                        Blonder Tongue Laboratories, Inc.
             (Exact Name of registrant as specified in its charter)



           Delaware                     1-14120               52-1611421
(State or other jurisdiction of  (Commission File Number)    (I.R.S. Employer
         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)


Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:


[_]  Written  communications  pursuant to Rule 425 under the  Securities Act (17
     CFR 230.425)


[_]  Soliciting  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)


[_]  Pre-commencement   communications  pursuant  to  Rule  14d-2(b)  under  the
     Exchange Act (17 CFR 240.14d-2(b))


[_]  Pre-commencement   communications  pursuant  to  Rule  13e-4(c)  under  the
     Exchange Act (17 CFR 240.13e-4(c))





Item 2.02.  Results of Operations and Financial Condition

On April 15, 2005,  Blonder  Tongue  Laboratories,  Inc.  issued a press release
announcing its financial  results for the fourth quarter and year ended December
31, 2004. A copy of the press release is attached to this Report as Exhibit 99.1
and is  incorporated  herein by  reference.  The  information  disclosed in this
report,  including  Exhibit 99.1  hereto,  is being  furnished  and shall not be
deemed  "filed" for  purposes of Section 18 of the  Securities  Exchange  Act of
1934.

Item 9.01.  Financial Statements and Exhibits

     (a) Not applicable


     (b) Not applicable


     (c) The following exhibits are filed herewith:


     Exhibit 99.1 Press Release dated April 15, 2005.




                                       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: April 15, 2005





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                                  EXHIBIT INDEX


         Exhibit No.                                 Description

         Exhibit 99.1              Press Release of Blonder Tongue Laboratories,
                                   Inc. dated April 15, 2005 regarding financial
                                   results for the fourth quarter and year ended
                                   December 31, 2004.





                                       4










EX-99 2 blonder8kex99033105041505.htm PRESS RELEASE
 [LOGO]                                                      One Jake Brown Road
BLONDER                                                Old Bridge, NJ 08857-1000
TONGUE                                         (732) 679-4000 Fax (732) 679-4353
LABORATORIES, INC.                                         www.blondertongue.com                                                          One Jake Brown Road




For Immediate Release:                           Contact:        James A. Luksch
April 15, 2005                                                      Chairman and
                                                         Chief Executive Officer
                                                                  (732) 679-4000


         BLONDER TONGUE REPORTS 2004 YEAR-END AND FOURTH QUARTER RESULTS


OLD BRIDGE,  NEW  JERSEY,  April 15, 2005 - Blonder  Tongue  Laboratories,  Inc.
(AMEX:  "BDR") today announced its sales and earnings for the fourth quarter and
full year ended December 31, 2004.

Net sales for fiscal year 2004 were  $39,233,000,  compared  to the  $35,437,000
reported in fiscal year 2003. The increase in net sales is primarily  attributed
to an  increase in capital  spending by cable  system  operators  and  generally
improved  economic  conditions.  The Company's gross profit margin  increased to
32.1% from 26.8% in the prior year due to a smaller  increase  in the  inventory
reserve,  as well as a higher portion of sales in 2004 being comprised of higher
margin products.  Earnings from operations were $784,000,  compared to a loss of
$2,181,000  reported  in 2003,  an  increase  of  $2,965,000.  The  increase  in
operating income was attributable to the  aforementioned  sales and gross margin
increases.  Net loss for the year  ended 2004 was  $3,122,000  or $0.39 loss per
share  compared to a loss of  $3,122,000  or $0.41 per share for the  comparable
period in 2003. The net loss was primarily  attributed to a $2,826,000 provision
for income taxes.  The  provision for income taxes  resulted from an increase in
the valuation allowance charged against the Company's Deferred Tax Assets.

Net sales for the fourth quarter 2004 were $8,572,000 compared to the $9,106,000
reported for the fourth  quarter of 2003.  The Company had an operating  loss of
$1,000  for the period  compared  to an  operating  loss of  $1,065,000  for the
comparable  period of 2003.  There was a net loss of  $3,367,000  for the fourth
quarter of 2004 (which  included the  $2,826,000  provision  for income  taxes),
compared to a net loss of  $1,909,000  reported for the fourth  quarter of 2003.
Diluted  net loss per share for the fourth  quarter of 2004 was $0.42,  compared
with diluted net loss per share for the fourth quarter of 2003 of $0.25.

James A. Luksch,  Chairman and Chief Executive Officer commented,  "2004 brought
renewed growth in the Company's sales and gross margin.  The Company reduced its
accounts payable by $1,234,000,  reduced its outstanding debt by $4,433,000, and
expects to have fully paid its  outstanding  term loan by January  2006.  We are
presently benefiting from an increased commitment to capital spending by private
cable  operators.   If  this  trend  is  sustained  and  we  are  successful  in
accelerating  our telephony,  high-speed  data, and digital TV product sales, we
expect continued improvement in operating performance through 2005."

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 Blonder Tongue's 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, 2004 (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.






                        Blonder Tongue Laboratories, Inc.
                    Consolidated Summary of Operating Results
                      (in thousands, except per-share data)

                          Three months ended         Twelve months ended
                              December 31,                December 31,
                              (unaudited)                            
                            2004         2003         2004        2003
Net Sales                 $  8,572   $  9,106      $ 39,233  $ 35,437
Gross Profit                 3,001      1,690        12,602     9,489
Earnings (loss) from
  operations                   ( 1)    (1,065)          784    (2,181)
Net loss                    (3,367)    (1,909)       (3,122)   (3,122)
Net  loss per share:
    Basic and diluted      $ (0.42)   $ (0.25)      $( 0.39)  $ (0.41)
Weighted average shares
outstanding:
    Basic and diluted        8,005      7,995        8,001     7,654

                                    Consolidated Summary Balance Sheets
                                                    (in thousands)

                                            Dec. 31,          Dec. 31,
                                               2004              2003
Current assets                            $  16,006         $  18,951
Property, plant and equipment, net            6,214             6,652
Total assets                                 38,156            47,990
Current liabilities                           5,403             7,360
Long-term liabilities                         5,830             9,745
Stockholders' equity                         26,923            30,885
Total liabilities and stockholders'
Equity                                    $  38,156         $  47,990



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