-----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, Jb+RNSUwDofQvgOTI4qOp3Gw6ImUJAUVb19NSwiNNO2jTjP6AqZ0OZ5jr+g/BMMS UNMwqmUjZ2diOzKyLUSlpQ== 0001307942-09-000070.txt : 20090514 0001307942-09-000070.hdr.sgml : 20090514 20090514090618 ACCESSION NUMBER: 0001307942-09-000070 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20090514 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090514 DATE AS OF CHANGE: 20090514 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: 09824476 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 blonder8k051309.htm blonder8k051309.htm - Generated by SEC Publisher for SEC Filing

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): May 14, 2009

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 Identification No.) 
incorporation)         

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 May 14, 2009, Blonder Tongue Laboratories, Inc. issued a press release announcing its unaudited financial results for the first quarter ended March 31, 2009. 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)      Not applicable
(d)      The following exhibits are filed herewith:

Exhibit 99.1     Press Release dated May 14, 2009.

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: May 14, 2009

3


EXHIBIT INDEX

Exhibit No.                       Description 
 
Exhibit 99.1    Press Release of Blonder Tongue Laboratories, Inc. dated 
    May 14, 2009 regarding its unaudited financial results for 
    the first quarter ended March 31, 2009. 

4


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One Jake Brown Road
Old Bridge, NJ 08857
Tel: 732-679-4000
Fax: 732-679-4353
www.blondertongue.com

FOR IMMEDIATE RELEASE:

Blonder Tongue Reports First Quarter 2009 Results

Reports Fourth Consecutive Quarter of Sequential Sales Increase

OLD BRIDGE, NEW JERSEY, May 14, 2009 – Blonder Tongue Laboratories, Inc. (NYSE Amex: “BDR”) today announced its sales and results for the first quarter ended March 31, 2009.

Net sales increased $2,049,000, or 29.8%, to $8,933,000 for the first quarter 2009 from $6,884,000 for the first quarter 2008. The increase in sales for the period is primarily attributed to an increase in sales of analog headend products and digital products. For the first quarter 2009 and 2008, respectively, analog headend product sales were $4,120,000 and $3,111,000 and digital product sales were $2,344,000 and $963,000.

Earnings (loss) from continuing operations after income taxes was $393,000, or $0.06 per share, for the first quarter 2009 compared to $(516,000) or $(0.08) per share for the comparable period in 2008.

Earnings (loss) from discontinued operations was $66,000, or $0.01 per share, for the first quarter 2009 compared to $(428,000) or $(0.07) per share for the comparable period in 2008. The loss from discontinued operations in 2008 was the result of the previously announced decision by the Company to cease operations of its wholly-owned subsidiary, Hybrid Networks, LLC, and dispose of its assets.

Commenting on the first quarter 2009 results, James A. Luksch, Chief Executive Officer, said, “The solid performance in our first quarter 2009 demonstrates the continuation of a positive trend at Blonder Tongue. This performance was achieved in what is traditionally our weakest quarter. This quarter represents a significant improvement over the first quarter of 2008 and is the fourth consecutive quarter in which sales have surpassed the sales of the prior year’s corresponding quarter. Operating expenses are under control, cash flow remains positive, we have not drawn down on our line of credit, we paid down term debt by $559,000 and our gross margin is five (5) percentage points higher than in last year’s first quarter. We believe that our suite of products provide the ideal solutions for our customers and will result in continued growth as we broaden our market coverage. As stated in our last quarter’s relea se, while it is certainly difficult to predict the future, all indications are that Blonder Tongue’s positive trend should continue in 2009 despite the overall economic slowdown.”

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. Additional information on Blonder Tongue and its products can be found at www.blondertongue.com.


“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, 2008 (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.

Contacts:

Eric Skolnik
Chief Financial Officer
eskolnik@blondertongue.com
(732) 679-4000

James A. Luksch
Chief Executive Officer
jluksch@blondertongue.com
(732) 679-4000

-MORE-

2


Blonder Tongue Laboratories, Inc.   
Consolidated Summary of Operating Results   
(in thousands, except per-share data)   
  (unaudited)     
 
  Three months ended   
  March 31,   
  2009  2008   
 
Net sales  $8,933  $6,884    
Gross profit  3,654  2,460    
Earnings (loss) from operations  431  (405)   
Earnings (loss) from continuing       
operations  393  (516)   
Earnings (loss) from discontinued  66  (428)   
operations       
Net earnings (loss)  $459  $(944)   
Basic and diluted earnings (loss) per       
share from continuing operations                 $0.06  $(0.08)   
Basic and diluted earnings (loss) per       
share from discontinued operations  $0.01  $(0.07)   
Basic and diluted net earnings (loss)       
per share                 $0.07  $(0.15)   
Basic and diluted weighted average       
shares outstanding:  6,191  6,222    
 
 
Consolidated Summary Balance Sheets   
(in thousands)   
 
    March 31,  December 31, 
    2009  2008 
    (unaudited)   
 
Current assets    $15,079  $16,040 
Property, plant, and equipment, net    4,114  4,176 
Total assets    26,118  27,042 
Current liabilities    2,935  3,827 
Long-term liabilities    3,223  3,779 
Stockholders’ equity    19,960  19,436 
 
Total liabilities and stockholders’ equity  $26,118  $27,042 

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