Blonder Tongue Laboratories, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 04, 2022 at 10:48 am EDT
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Blonder Tongue Laboratories, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 5.26 million compared to USD 4.17 million a year ago. Net loss was USD 0.703 million compared to USD 0.201 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.05 compared to USD 0.02 a year ago.
For the nine months, sales was USD 12.84 million compared to USD 11.76 million a year ago. Net loss was USD 3.01 million compared to net income of USD 1.01 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to basic earnings per share from continuing operations of USD 0.08 a year ago. Diluted loss per share from continuing operations was USD 0.23 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.