Blonder Tongue Slips in 2Q
Net sales and net income fell at Blonder Tongue Laboratories Inc. in the second quarter.
The broadband-systems-equipment posted net sales of $9.408 million, down from $10.917 million in the second quarter of 2004. Blonder Tongue reported a second-quarter net loss of $641,000, or $0.08 per share, compared with net income of $236,000 ($0.03) in the year-ago period.
“After having such a positive first quarter, the second-quarter sales performance is disappointing,” CEO James A. Luksch said in a prepared statement. “Our primary goals in 2005 are to reduce slow-moving inventory and improve our sales momentum. These goals are still attainable.”
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