BDR - Earnings call transcript Q1 2018 | Blonder Tongue Laboratories, Inc.

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Operator

Greetings and welcome to the Blonder Tongue Laboratories' First Quarter 2018 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Officer Tongue Executive Chief Palle, for Laboratories. Blonder Bob you. Thank

You may begin.

Robert Palle

Welcome Good XXXX to first everyone. quarter Tongue's Blonder morning, teleconference. financial reporting

trends Before prospects Tongue subjects, contain management's you representatives, that any which with may be to will and this will and by performance, of in who made view begin reminding today, those Blonder like the remarks preface including be details other forward-looking by we evolving statements, speaking I'd marketplace. our my we of morning discussing certain

was you know, and Form is and you maybe morning. that morning. future Chief Shea, from recently that the Gureck, for XX-Q cause Operating quarters, from results actual that XXXX Officer. results the concerning so this I impossible Board; Eric Chief quarter Chairman will ask Officer; and discussed our years Financial additional XX-K/A for XX-Ks that and As may that factors differ refer filed the are first Skolnik, XXXX, to Bruce to caution projected Steven information me information those prior actual comments would today be predict, in could our our most to you XXXX of prior that the and for I filings, With differ SEC the this

to All any of following questions will be answer our us available you presentations. may have

the the newest seasoned of Mr. tremendous we the a to company. member newest and he member BT executive Bruce introduce and Gureck, to be Bruce anticipate I to the like a veteran, First, would of the officer asset industry family, will is BT team.

company's view will prospects. of Following the market provide Bruce and his my the remarks,

question-and-answer the to his provide Eric, And following Bruce's we the will Eric call open Following report. comments, financial up session. will

bear new Before information, of comments first with I any quarter press release the repeating. my continue essence

income positive through were were to quarter expense in to $XX,XXX in in than first $XXX,XXX XXXX. XXXX show margin, first by which loss year-over-year and we gross down narrow revenue able our the the an and controls performance, from year-over-year While operating XX% the was rigorous of we disappointed improvement of quarter more

first and ahead, liked, than second Looking consequence and revenues third the order quarter was would remain we quarters. have concerned for as softer regarding a input

reported, revenues as levels previously we to testing we improvement into The and NXG that return fourth product to laboratory continue quarter line the that As in anticipate into anticipate XXXX continues introduction phase. the move will BT MSO XXXX.

As has of reported will be we far. to in results this today. sale been the with revenue processes the from so be $XX,XXX. approximately feedback last the first first the system positive. continue All test extremely Also, we The part will system as received conference test investor shipping we call, pleased have be

the over remarks. Now, to I'd present like call to so Bruce may Bruce? his he that turn Gureck

Bruce Gureck

see part to very pull of It's be steady Bob. you, team. Overall, lines. exciting our for market Thank a we the traditional product

NXG well our Regarding it new accounts within efforts new tremendous shows marketing promise customer so product, based on as our far. with customers existing as

plan that lab now for mentioned new executing the and Our a concentrated on introduction completing are across right market. on trial product MSO efforts entire NXG the the Bob

at over call Eric? work for to Skolnik. And we our to Eric to that, hard roadmaps now, turn I'd Beyond new are like the additional CFO, products. finding

Eric Skolnik

Thanks, Bruce.

$XXX,XXX and to income. the decreased the is months per for a XXXX, $X.XX $X.XX XX, for in generate March the loss $XXX,XXX of products, comparable in to decrease share the for offset per share loss products products sales were The of a was of Analog products XXXX data video analog sales Although from period operating contract respectively. contract products headend $X,XXX,XXX of or $XXX,XXX. and comparable products decrease period and in headend headend $X,XXX,XXX, a XXXX ended loss loss and were $XX,XXX months digital $X,XXX,XXX. and or $XXX,XXX $XX,XXX Sales XXXX. Data video net in were video to were digital first compared headend sales of video $X,XXX,XXX, Overall $X,XXX,XXX company or manufactured and the attributed three XXXX and products. net loss and continued manufactured net increase to for products in of XXXX, sales $X,XXX,XXX, the a XX.X% quarter first by primarily an in three $XXX,XXX

I'd our to Q&A like to the call session. over turn Now,

Operator

Instructions] comes private proceed [Operator Thank Please of you. from conducting line we'll question-and-answer At time question investor. the a Dale this be with Our Norton, session. first question. your

Unidentified Analyst

morning Good gentlemen.

Robert Palle

morning. Good

Unidentified Analyst

to number do anticipate improvements does something sale two, you is need this number And or building, Just the include I consider? land, building there close, else when out one? to of that leaseback curiosity, and

Robert Palle

this of June. it's probably And building as regarding it, what your facility, in yes time question closing, anticipate land, everything. We time, entire the some improvements, is

Unidentified Analyst

-- other be to and Okay, in words, to is machinery continuing your going balance office on sheet? be

Robert Palle

is That correct.

Unidentified Analyst

Okay, another one here.

thousand that I little Can ahead to your given dollars talk dropped, surprised amortization. interest little a your a term bit seemed five some and high. expense missing Am bit? I a Your of here? you little what, that debt bit And was hundred something

Robert Palle

XXst at Yes. long-term term our it XX, debt looking March what sheet balance know because was is And $X,XXX,XXX. I XXXX, $X,XXX,XXX. on our at piece on don't you're December

Unidentified Analyst

that a okay. Okay. mistake Well, then, made I must've on

than is expense little was this higher Let's Are expecting you a anomaly? last bit just had bit that a see that R&D I an year see. you year level the higher. or

Robert Palle

of And but engineering product, by I NXG an the stock that into that and you I some quarter. issued you fact you way tell it's lot, later it's anomaly, whatnot, if it's our can the those driven prototypes were from think or the other, anomaly a later all the it's department. a Maybe But in room an direction $XX,XXX we'll the see other one may know. and so salvage that

Unidentified Analyst

sure. Okay,

that the removing information? scanning into slow-moving. the see through I Can inventories. what in reasoning reserve in noticed a that Q longer changed I And explain no Finally, you've presentation went for you

Robert Palle

accounting value inventory. the has supposed to do pronouncements the It to how Sure. way your that you're with describe

at should reserve a your value so value, to against inventory by net it. you're to net your be realizable present in supposed inventory not since definition supposed realizable value, You're there

is “reserve” various So netted the into components the above.

Unidentified Analyst

see that from statement. could year-end I looking your at Yes,

Robert Palle

Yes.

Unidentified Analyst

one And bit a is absorption had Okay, indicated be because little you sales your were down. manufacturing how I'm to because your curious do down more. that that you down? overhead

Robert Palle

I'm not sure what referring to? you're

Unidentified Analyst

saw you're Okay, about talking -- well I a when --

Robert Palle

labor, overhead into We a understand -- percentage numbers. out into a do winds we're we're as dig prepared as of percentage question; -- to and we whether statements direct so percentage parse have we'd to it just it up those the don't a and construct the of as your the I labor, percent of know and dig the

Unidentified Analyst

Yes, obviously that's pretty common.

Robert Palle

it about later. Talk

you something, If -- willing to, we'd about but that to talk want not offline we're or be

Unidentified Analyst

appreciate that. I may thank do I that, you.

Robert Palle

not [indiscernible]. to probably, like I'd It's minutes prepared take just to or dig -- ten but five just for in we're it out figure us

Unidentified Analyst

may you, Thank I that later. gentlemen. Yes, do

Robert Palle

you. Thank

Unidentified Analyst

Thank bother won't you. you anymore. I

Operator

Thank be you there seems final for Instructions] you. floor any I'll back [Operator Mr. comments. questions. no to Palle, other to turn the

Robert Palle

for conference Thank a couple of and participating, everyone great And investor have you June. day, talk in the listening you have next months. to at in. call very much We'll a great

Operator

today's Thank teleconference. you. concludes This

Thank may your You time. for your this you lines disconnect at participation.

Blonder Tongue Laboratories (BDRL) 11 May 182018 Q1 Earnings call transcript