Blonder Tongue Laboratories Inc (BDR, Financial) filed Quarterly Report for the period ended 2012-06-30.
Blonder Tongue Labs, Inc. has a market cap of $6.3 million; its shares were traded at around $0.942 with and P/S ratio of 0.2.
Selling Expenses. Selling expenses increased to $822,000 for the second three months of 2012 from $593,000 in the second three months of 2011, and increased as a percentage of sales to 10.5% for the second three months of 2012 from 8.2% in the second three months of 2011. The $229,000 increase was primarily the result of an increase in salary expense (including fringe benefits) of $143,000 due to increased headcount and an increase in travel and entertainment expense of $29,000, both primarily related to the RLD Acquisition. The percentage increase was also the result of the ongoing operation of RLD.
Net Sales. Net sales increased $1,107,000, or 8.4%, to $14,311,000 in the first six months of 2012 from $13,204,000 in the first six months of 2011. The increase is primarily attributed to an increase in sales of digital video headend products offset by a reduction in ClassRoomEdge™ product line sales and contract manufactured product sales. Sales of digital video headend products were $6,474,000 and $4,604,000, ClassRoomEdge™ product sales were $6,000 and $445,000 and contract manufactured product sales were $1,146,000 and $1,563,000 in the first six months of 2012 and 2011, respectively. The Company has experienced and expects to continue to experience a shift in product mix from analog products to digital products. The Company’s sales of contract manufactured products have not been adversely affected by the termination of its business with Buffalo City, inasmuch as those sales have generally been replaced by direct sales to XATA. The RLD Acquisition contributed $3,252,000 to net sales for the first six months of 2012.
Selling Expenses. Selling expenses increased to $1,622,000 for the first six months of 2012 from $1,260,000 in the first six months of 2011, and increased as a percentage of sales to 11.3% for the first six months of 2012 from 9.5% in the first six months of 2011. The $362,000 increase was primarily the result of an increase in salary expense (including fringe benefits) of $289,000 due to increased headcount and an increase in travel and entertainment expense of $49,000, both primarily related to the RLD Acquisition. The percentage increase was also the result of the ongoing operation of RLD.
General and Administrative Expenses. General and administrative expenses increased to $2,947,000 for the first six months of 2012 from $2,266,000 for the first six months of 2011, and increased as a percentage of sales to 20.5% for the first six months of 2012 from 17.2% for the first six months of 2011. The $681,000 increase was primarily the result of increased professional fees of $286,000, increased salary expense (including fringe benefits) of $242,000 due to increased headcount, and increased amortization expense of $106,000 relating to intangible assets, all associated with the RLD Acquisition. The percentage increase was primarily the result of these same increases.
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Blonder Tongue Labs, Inc. has a market cap of $6.3 million; its shares were traded at around $0.942 with and P/S ratio of 0.2.
Highlight of Business Operations:
Net Sales. Net sales increased $597,000 or 8.3%, to $7,803,000 in the second three months of 2012 from $7,206,000 in the second three months of 2011. The increase is primarily attributed to an increase in sales of digital video headend products, offset by a decrease in sales of the ClassRoomEdge™ product line, the digital transition product line and contract manufactured products. Sales of digital video headend products were $3,841,000 and $2,467,000, ClassRoomEdge™ products were zero and $174,000, digital transition products were $39,000 and $230,000 and contract manufactured products were $571,000 and $939,000 in the second three months of 2012 and 2011, respectively. The Company has experienced and expects to continue to experience a shift in product mix from analog products to digital products. The Company’s sales of contract manufactured products have not been adversely affected by the termination of its business with Buffalo City, inasmuch as those sales have generally been replaced by direct sales to XATA. The RLD Acquisition contributed $1,851,000 to net sales for the second three months of 2012.Selling Expenses. Selling expenses increased to $822,000 for the second three months of 2012 from $593,000 in the second three months of 2011, and increased as a percentage of sales to 10.5% for the second three months of 2012 from 8.2% in the second three months of 2011. The $229,000 increase was primarily the result of an increase in salary expense (including fringe benefits) of $143,000 due to increased headcount and an increase in travel and entertainment expense of $29,000, both primarily related to the RLD Acquisition. The percentage increase was also the result of the ongoing operation of RLD.
Net Sales. Net sales increased $1,107,000, or 8.4%, to $14,311,000 in the first six months of 2012 from $13,204,000 in the first six months of 2011. The increase is primarily attributed to an increase in sales of digital video headend products offset by a reduction in ClassRoomEdge™ product line sales and contract manufactured product sales. Sales of digital video headend products were $6,474,000 and $4,604,000, ClassRoomEdge™ product sales were $6,000 and $445,000 and contract manufactured product sales were $1,146,000 and $1,563,000 in the first six months of 2012 and 2011, respectively. The Company has experienced and expects to continue to experience a shift in product mix from analog products to digital products. The Company’s sales of contract manufactured products have not been adversely affected by the termination of its business with Buffalo City, inasmuch as those sales have generally been replaced by direct sales to XATA. The RLD Acquisition contributed $3,252,000 to net sales for the first six months of 2012.
Selling Expenses. Selling expenses increased to $1,622,000 for the first six months of 2012 from $1,260,000 in the first six months of 2011, and increased as a percentage of sales to 11.3% for the first six months of 2012 from 9.5% in the first six months of 2011. The $362,000 increase was primarily the result of an increase in salary expense (including fringe benefits) of $289,000 due to increased headcount and an increase in travel and entertainment expense of $49,000, both primarily related to the RLD Acquisition. The percentage increase was also the result of the ongoing operation of RLD.
General and Administrative Expenses. General and administrative expenses increased to $2,947,000 for the first six months of 2012 from $2,266,000 for the first six months of 2011, and increased as a percentage of sales to 20.5% for the first six months of 2012 from 17.2% for the first six months of 2011. The $681,000 increase was primarily the result of increased professional fees of $286,000, increased salary expense (including fringe benefits) of $242,000 due to increased headcount, and increased amortization expense of $106,000 relating to intangible assets, all associated with the RLD Acquisition. The percentage increase was primarily the result of these same increases.
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