[LOGO]
One Jake Brown Road
Old Bridge, New Jersey 08857-1000
Tel: 732-679-4000 Fax: 732-679-4353
www.blondertongue.com
FOR IMMEDIATE RELEASE CONTACT: James A. Luksch
Chairman and
Chief Executive Officer
(732) 679-4000
BLONDER TONGUE ANNOUNCES 100,000 SHARE STOCK REPURCHASE PROGRAM
OLD BRIDGE, NEW JERSEY, February 13, 2007 - Blonder Tongue Laboratories, Inc.
(AMEX: "BDR") announced today that its Board of Directors has authorized a new
stock repurchase program to acquire up to 100,000 shares of its outstanding
common stock. The program is intended to be implemented through purchases made
from time to time in the open market or through block trades.
This authorization supplements the existing stock repurchase plan adopted in
July 2002, under which Blonder Tongue may still expend approximately $100,000 to
acquire additional shares of its common stock. The Company intends to resume
making purchases under the July 2002 plan up to its limits, and thereafter to
make purchases under the new 100,000 share program. As of January 31, 2007,
6,222,252 shares of the Company's common stock were outstanding.
Depending on market conditions and other factors, these purchases may be
commenced or suspended at any time or from time to time without prior notice.
Purchases will be funded from available working capital and the repurchased
shares may be retired or may be held in treasury or used for ongoing stock
issuance such as for employee stock plans.
"Approval of this program reflects a strong belief by our Board in Blonder
Tongue's future. We believe the current valuation of our stock does not reflect
the underlying long-term value of the Company. We continue to believe that the
purchase of our common stock at the current stock price represents an attractive
opportunity to benefit the long-term interests of the Company and its
shareholders," said James A. Luksch, Chairman of the Board and Chief Executive
Officer.
Founded in 1950, Blonder Tongue Laboratories, Inc. has evolved from a
manufacturer of electronic equipment for the private cable industry to a
principal provider of integrated network solutions and technical services to
broadband service providers. The Company designs, manufactures, and supplies a
comprehensive line of equipment to deliver video (analog & digital), high speed
data and voice services over integrated coaxial and fiber optic broadband
networks today and over packet based, Internet protocol networks of the future.
For more information regarding Blonder Tongue or its products, please visit the
Company's Web site at www.blondertongue.com or contact the Company directly at
(732) 679-4000.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The information set forth above includes "forward-looking" statements and
accordingly, the cautionary statements contained in Blonder Tongue's Annual
Report and Form 10-K for the year ended December 31, 2005 (See Item 1: Business,
Item 1A: Risk Factors and Item 7: Management's Discussion and Analysis of
Financial Condition and Results of Operations), and other filings with the
Securities and Exchange Commission (such as Blonder Tongue's Quarterly Reports
on Form 10-Q) are incorporated herein by reference. The words "believe",
"expect", "anticipate", "should", "project", and similar expressions identify
forward-looking statements. Readers are cautioned not to place undue reliance on
these forward-looking statements, which reflect management's analysis only as of
the date hereof. There can be no assurance that Blonder Tongue will purchase any
shares under the stock repurchase program or that such purchases will enhance
the financial results of the company in the future. Blonder Tongue undertakes no
obligation to publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof. Blonder Tongue's actual
results may differ from the anticipated results or other expectations expressed
in Blonder Tongue's "forward-looking" statements.
