We started our long position in Blonder Tongue (AMEX:BDR) based on bullish outlook in the company’s Q2 release from mid august. In its Q2 2014 the company reported:
- Net sales increased $1,682,000, or 23.5%, to $8,828,000 in the second three months of 2014 from $7,146,000 in the second three months of 2013.
- Net earnings for the second three months ended June 30, 2014 were $347,000 or $0.06 per share, compared to a net loss of $(660,000) or $(0.11) per share for the comparable period in 2013.
Blonder Tongue Robust Sales
Commenting on the second quarter 2014, Chairman and Chief Executive Officer James A. Luksch noted, “the significant improvement in our results this past quarter is a result of robust sales of certain recently released products and is evidence that our digital product strategy is on point. There have been improvements in all areas: sales, gross margin, profits and EBITDA. We believe that as other recent product releases take hold we should be able to sustain the gains enjoyed in the second quarter for the remainder of the year.”