Solid 2004 for Blonder Tongue4/15/2005 3:19 AM Eastern
Blonder Tongue Laboratories Inc. reported higher net sales and positive earnings from operations for 2004.
The broadband-systems-equipment vendor said 2004 net sales were $39.233 million compared with $35.437 million in 2003. Earnings from operations were $784,000 versus a loss of $2.181 million in 2003.
Blonder Tongue reported an identical net loss to 2003’s, $3.122 million ($0.39 per share), which it primarily attributed to a $2.826 million provision for income taxes.
“We are presently benefiting from an increased commitment to capital spending by private cable operators,” chairman and CEO James A. Luksch said in a prepared statement.
“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,” he added.