Why did Blonder Tongue Laboratories Inc (BDR) stock plunge on Friday?

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SNN Stock
SNN Stock

Blonder Tongue Laboratories Inc. (BDR) shares plunged 8.11% in after-hours on Friday, October 08, 2021, and closed the recent trading at $1.02. Even in the regular trading session of Friday, BDR’s stock lost 3.45%. BDR shares have risen 5.12% over the last 12 months, and they have moved down 0.88% in the past week. Over the past three months, the stock has lost 21.13%, while over the past six months, it has shed 11.11%.

Let’s have a look at its recent news and developments.


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BDR new Aircaster AQT8 series of transmodulators

On September 1, 2021, Blonder Tongue Laboratories, Inc (BDR) unveiled the updated Aircaster AQT8 series of transmodulators, including the Aircaster AQT8-QAM/IP and Aircaster AQT8-IP.

Read More

The updated series of transmodulators provide a comprehensive and flexible toolset to create custom IP and QAM channel lineups from any ATSC 1.0 off-air or QAM content source.

BDR recent financial results

On August 12, 2021 /Blonder Tongue Laboratories, Inc. (BDR) announced its financial results for the second quarter and six months ended June 30, 2021.

BDR Q2 2021 financial highlights

  • BDR reported net sales of $4,338,000 in Q2 2021 compared to $3,831,000 in Q2 2020.
  • In Q2 2021, the gross profit was $1.6 million compared to the gross profit of $1.24 million in Q2 2020.
  • It earned a net income of $1,626,000 or $0.11 per diluted share in Q2 2021 compared to a net loss of $1,194,000 or $0.12 per diluted share in Q2 2020.

Six months financial highlights

  • BDR net sales were $7,589,000 in the first six months of 2021 compared to $7,881,000 in the first six months of 2020.
  • In the first six months of 2021, the gross profit was $2.9 million compared to 1.79 million in the first six months of 2020.
  • Net cash provided by operating activities was $126,000 for the first six months of 2021, compared to net cash used in operating activities of $2,029,000 for the comparable period of 2020.
  • It earned a net income of $1,212,000 or $0.08 per diluted share in the first six months of 2021, compared to a net loss of $3,274,000 or $0.34 per diluted share in the first six months of 2020.

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Conclusion

Well, as of this writing, there is no reason which could justify its poor performance on Friday. We hope that it will commence the new week with positive energy.

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