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Tag: Blonder Tongue Laboratories

  • NYSE Delisting Receipt: Blonder Tongue Laboratories Inc. (BDR) Fell in the Aftermarket

    Blonder Tongue Laboratories Inc. (BDR) after announcing receipt of Delisting from NYSE, fell down by 33.22% in the after-hours on Friday.

    In the previous trading session, the stock was up by 2.06%, closing at $0.8685 with 602.81K shares on December 10. Following the announcement, the stock went down to $0.58 in the after-market.

    The technology manufacturer, Blonder Tongue Laboratories Inc. (BDR) was founded in 1950. Currently, the 12.82 million outstanding shares of BDR, trade at a market capitalization of $11.14 million.

    Delisting Notice from NYSE

    On December 10, the company announced receiving a delisting notice from the staff of NYSE Regulation. The reason for this delisting was the company’s inability to regain compliance with Sections 1003(a)(i), (ii), and (iii) of the NYSE guide. According to the mentioned sections, if a company has a history of losses from continued operations, it is supposed to maintain a specific level of stockholder’s equity. The 18-month compliance period for which expired on December 10, for BDR.

    Further, the company announced to file for an appeal to the staff’s determination. Moreover, the letter further stated that the company’s shares will continue listing and trading on NYSE during the pendency of BRD’s appeal. In addition, if the staff finds suspending trading of the company’s shares in the interest of the public, it can do so at any time.

    BDR’s NXG Platform Update

    On November 29, BDR announced adding a new update to its NGX video delivery platforms. The NXG solutions are module-based IP digital video processing platforms that are highly customizable.

    As per the new update, the BDR platforms will now provide more video delivery options with less hardware use and possible smaller form factors. This is achieved by the configuration of IP inputs or outputs through a new, built-in IP connection on the NGX Master Controller. Further, these updates will also decrease separate IP module needs, resulting in additional processing functions, encoding or transcoding, etc. within the platform. Hence it will reduce rack-space, cost, and power use.

    Moreover, a higher-level security protection configuration is also possible in the BDR platforms now. This will allow remote access through discreet IP Whitelisting.

    BDR’s Financials

    On October 22, the company announced its financial results for the third quarter of 2021. In the third quarter of 2021, BDR reported net sales of $4,172,000, compared to $4,171,000 in the Q3 of 2020.

    Furthermore, the reported net loss was $201,000 for the Q3 of 2021, against $1,787,000 in the year-ago quarter. Consequently, the net loss per diluted share was $0.02 in Q3 of 2021, against $0.18 in Q3 of 2020.

  • Here is why Blonder Tongue Laboratories Inc. (BDR) performed well on Tuesday?

    Blonder Tongue Laboratories Inc. (BDR) shares were rallied 34.44% in after-hours on Tuesday, July 6, 2021, and closed the day at $2.03 per share. Earlier, BDR’s stock gained 16.15% to close Tuesday’s morning session at $1.51. BDR shares have risen 104.05% over the last 12 months, and they have moved up 16.15% in the past week. Over the past three months, the stock has gained 3.07%, while over the past six months, it has declined 16.15%.

    BDR received forgiveness loan payment

    On July 6, 2021, Blonder Tongue Laboratories, Inc received forgiveness of $1,768,762 of loan proceeds previously received under the Paycheck Protection Program.

    As previously disclosed, on April 10, 2020, the Company received a PPP Loan of $1,768,762 under the federal PPP Program. The PPP was established as part of the Coronavirus Aid, Relief and Economic Security Act and is administered by the U.S. Small Business Administration (SBA).

    Blonder Tongue Laboratories partnership with Innovative Systems 

    On June 16, 2021, Blonder Tongue Laboratories, Inc partnered with Innovative Systems to launch two new solutions for Blonder Tongue’s NXG IP Digital Video Signal Processing Platform.

    Recent financial results announcement

    On May 13, 2021, Blonder Tongue Laboratories, Inc announced its financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • Blonder Tongue Laboratories reported net sales of $3,251,000 for the first quarter of 2021 compared to $4,050,000 for Q1 2020.
    • The company’s gross profit was $1.385 million in Q1 2021 compared to $553,000 in Q1 2020.
    • The company suffered a net loss of $414,000or $0.04 per share in Q1 2021, compared to $2,080,000 or $0.21 per share in Q1 2020.
    • In Q1 2021, net cash provided by operating activities was $234,000 compared to net cash used in operating activities of $842,000 in Q1 of 2020.

    Noncompliance Notice from NYSE 

    On April 7, 2021, Blonder Tongue Laboratories, Inc received notice from NYSE American LLC, stating that it is not in compliance with the continued listing standard outlined in Section 1003(a)(i) of the NYSE American Company Guide (the “Company Guide”). That section applies if a listed company has stockholders’ equity of less than $2 million and the listed company has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years.

    Conclusion

    The recent financial assistance could be the reason behind its good performance on Tuesday but we are not sure how long it can keep BDR stock surging so let’s see how it will perform in the coming days.