Blonder Tongue posted Q3 net sales of $9.57 million, down 0.9 percent versus $9.66 million from the year-ago quarter, but the company still managed to record net income of $175,000 (2 cents per share), improved from a year-ago net loss of $3.5 million (44 cents per share).
Blonder Tongue cited the small decline on a decrease in interdiction product sales, but that was offset by an increase in sales of the company’s fiber and “core” product line.
For the quarter, interdiction product sales were $319,000, down from $733,000 a year ago. Fiber product revenues jumped to $647,000 from $274,000.
Company CEO James Luksch said Blonder Tongue was aided by year-to-date sales improvement as well as the elimination of “non-core” business units, including its interest in Blonder Tongue Telephony and its planned divestiture of BDR Broadband, a private cable system in Texas.
With the shed business unit and upcoming divestiture, “we expect an annual improvement to our net income of approximately $600,000,” Luksch said. “In addition, the anticipated sale of selected company patent rights should result in net proceeds of approximately $2,000,000.”