Blonder Tongue Laboratories, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 05:01 pm EDT
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Blonder Tongue Laboratories, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 4.23 million compared to USD 4.34 million a year ago. Net loss was USD 1.15 million compared to net income of USD 1.63 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to basic earnings per share from continuing operations of USD 0.14 a year ago. Diluted loss per share from continuing operations was USD 0.09 compared to diluted earnings per share from continuing operations of USD 0.11 a year ago.
For the six months, sales was USD 7.58 million compared to USD 7.59 million a year ago. Net loss was USD 2.31 million compared to net income of USD 1.21 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to basic earnings per share from continuing operations of USD 0.1 a year ago. Diluted loss per share from continuing operations was USD 0.17 compared to diluted earnings per share from continuing operations of USD 0.08 a year ago.
Blonder Tongue Laboratories, Inc., along with its subsidiary R. L. Drake Holdings, LLC (Drake), is a technology research and development company. The Company delivers a range of products and services to telecommunications, cable and fiber optic service delivery operators, as well as broadcasters and media production companies. Its products are deployed in a list of locations, including lodging/hospitality, multi-dwelling units/apartments, broadcast studios/networks, universities/schools, healthcare/hospitals, fitness centers, government facilities/offices, prisons, airports, sports stadiums/arenas, entertainment venues/casinos, retail stores, and small-medium businesses. The Companyâs products are divided into five categories: Encoders and Transcoders, NeXgen Gateway (NXG), Coax Distribution, consumer premise equipment (CPE) and Digital Modulation. Its Encoder/Transcoder Products are used by a system operator for encoding and transcoding of digital video.