BDR - Earnings call transcript Q2 2018 | Blonder Tongue Laboratories, Inc.

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Operator

Greetings, and welcome to the Blonder Tongue Laboratories Second Quarter 2018 Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It’s now my pleasure to introduce your host, President and CEO of Blonder Tongue Laboratories, Bob Palle. Please go ahead, sir.

Robert Palle

Good morning, everyone. XXXX Financial Tongue’s Teleconference. Blonder to Second Reporting Quarter Welcome

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

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

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

call Following my the question-and-answer Eric, to up remarks, open Eric will will a provide his following financial report. we And session.

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

Purchases such data by to decrease largest not unexpected the given reduced, installation experienced in Although our first during bookings by in customers quarter was of rates products slower-than-expected due disappointed decrease the we second certain are for customer. part of was in products quarter. revenues, one the softer-than-anticipated the the

deployed, the resume that we earlier quarter expect do as is order XXXX their from during increase levels. fourth input at to customer that purchase expect to carried inventory we to and not are customer While sales

to four for been service pleased and be overall laboratory phases anticipated by have from Gateway we report to has company. MSO that approval the side, progressing contributor to testing initial positive ship those a approved are five at to purchase received product the On are expected The our NeXgen orders providers, XXXX five. and growth key products NeXgen success is of the of been Sales growth the during from well.

quarter concerned previously about revenues, the XXXX. continue quarter XXXX anticipate reported, improvement into will to but return remain fourth we that and third As levels during revenues that the

X-K early that status as New filed filed position property more Following the to speak on have new will, promotion the an be and company company up the for anticipate the products. property and sale Jersey with will X, owner. The disclosing debt-free a development of the our XXXX, themselves. from we the invest with Bridge, of a aggressively November, X-K sale of the closes in sale cash on entered back If property. the new The significant August it reserves lease we Old of and in contracted into documents that

the turn Eric? Skolnik. to call to like over I’d Now Eric

Eric Skolnik

XXXX, products analog $XXX,XXX video XXXX. and June sales Thank distribution $X.XX data data you, were of $XX,XXX,XXX video sales or a products, for distribution comparable digital decrease to loss Net decreased loss a for the products, video of of contract-manufactured contract-manufactured were of in XXXX. the were is three and loss headend were for digital XXXX. and is sales to or sales sales share offset data decreased from ended XXXX, video Bob. part $X,XXX,XXX, primarily of of XXXX the sales to for products the XX.X% in products the headend products per to decrease products products. was months months for sales in comparable a loss and in $X,XXX,XXX were $X,XXX,XXX, Net distribution comparable $X.XX and $XXX,XXX; $XXX,XXX period Net or attributed $XXX,XXX June analog $XXX,XXX loss video $X,XXX,XXX the HFC or of XXXX, $X,XXX,XXX HFC headend $X,XXX,XXX headend sales loss digital was $X,XXX,XXX six-month per loss in digital Net period period the in respectively. XX.X% $X,XXX,XXX in products HFC second of $XXX,XXX in products The products, from $X,XXX,XXX, products, XXXX six HFC period in $X,XXX,XXX in XXXX, a Net XXXX, and $X,XXX,XXX; and XX, respectively. to and and headend June XX, $X,XXX,XXX a of $X,XXX,XXX; Net ended attributed video by $XXX,XXX and were products the $XXX,XXX an months first for of $ share of six ended XXXX. loss in products three were of period share and a products compared or to $XX,XXX,XXX distribution of products a or increase decrease $XXX,XXX, primarily and for comparable and headend The $XXX,XXX were data a a loss months products. $X.XX second the and per X,XXX,XXX, a share XXXX in for $X.XX per video of loss – compared the decrease of quarter XX,

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

Operator

first conducting question-and-answer coming Our Dale is you. will investor. time, we Instructions] this Thank a [Operator Norton, a private be session. from question today At

is line Your now open.

Dale Norton

keen is quarter Would had be outlook for – the Good percentage future couple? year that obviously, it more anticipating the you this gross the margin morning it over or margin to the or would margin than be better been past. I May might been in we’ve seen have last you gentlemen. ask what gross than

Robert Palle

actually reflect just year. XX%, above it was in was it time gross the margin this than thought I last although better hanging may

XX.X%, how to mitigate fact, we in in revenue improvement gross loss and controls. hang – from last I the better was by hard we that mix at expense That’s tighter we in the that the But margin product able an about going that product talked think gross swaps margins because it’s were I the it one call, be and in around which still to true. predict to would to think to other. say quarter,

Dale Norton

I if understand doing overly than closer that. XX%, Yes, XX% would I understand that demonstrative in be areas, product you’re that well in can I to that. But that. been would to be given it okay, I said, newer look forward having

Robert Palle

we if the next same and Yes. product confident quarter wasn’t the be little that I point, was mix the to by could I so… having would chat understand in your point your time support I of rise going

Dale Norton

understand I No, that.

question quick here. Second G&A was considerably. up

why I’ve that’s and but of for an got think what as forward. discussion it, I going a might appreciate look would higher understanding I we to

Eric Skolnik

I We is we would probably reason had part was the current the think it have increases increase why be now. in It headcount. of rate that the at same some it run the G&A. in

Dale Norton

final question. Okay, one

extent How sense things the at to or And bookings referred course, are reflect do. I’m are you to some which, would bookings Q You next tend going? discussing sales, seen you in K. of ultimately that do where the it we to bookings anything far least does curious quarter. shipped down the bookings the what in extent of they to I’ve go within never give if out know

Robert Palle

question. a that’s good Okay. The –

We enjoy much quarter periods, nine but for have beyond long or that several decent we six items input months. time future lead not

we just But – those quarter really, catch can before. depending that the worth when orders orders the down. a those quarter on of the received, looks So commitment timing of for quarters' received large are of waves then a you three

are the work that a point has and be turned large bought hospitality we little sold them. there area, bit for and now that is timing has too So out we uplift year, to in issues, very order main much last inventory in but deployments input some off the to the customer that a had

So I is in my the in release, – if guess, that remarks said clear and now? the prepared clear press pretty what it wasn’t quote from in that I’ve maybe

Dale Norton

Yes, no, indicated and you earlier. had

repeated that’s would I identify year relevant, some that be don’t a know find did that not were You the in there that segment, sales customer might bookings you Ks last would really that going within now I certainly the particularly forward? in not issue and it be worthwhile this that I addressing would what I But at. Qs into wonder, your look built year. And

Robert Palle

And that we rollout, always that everything from than almost lead in we next booked offshore immediately past then and quarter little really the a than – past the shippable. bit some to away – details because and orders We from that we like six time it’s all a things for a would where months. where regret softer I to bookings topic topic getting shippable or the fact put five actually, coming of or get deal ago, but definitely getting, three, same – a in quarter change. have major we’ve in out, commitment, that the is much, were stay type disclosures. and them guess transit if we the been is maybe Like, manufacturing our I would immediately of yes, three-year are input other first is almost this opening time, of unless be months, lead still things our mentioning because But guess, five-year from it’s from was idea. in within and a so public we the that and up for – or something nine think discussed that – I I – in expected the had getting months, commitment predicate that, time the it or order apart the couldn’t stuff years nearly three it’s it’s offshore, two we that

– real time much decent and they us, the the – ones that in given get or customers and not are from delivery dates it’s are months frame they six three we – have out. most orders can the are or we and months dates they’ve beyond know ship months delivery three three We that

Dale Norton

do impact on that Have expect you? on final question have one any you? tariffs had you will Okay, they any here. the announced impact And

Robert Palle

could us whether our them, know we But a effect if have will on a whether they’re implemented that some don’t on we’d if on They means I or understand could understand of kind as have competition have – us. there. equal and dramatic footing we’re impact effect We does, is we actively it – we to relative But be working dramatic they’re to them, they now. plans and will would to China. working in everything be mitigate understanding XX% analysis the from going final know our implementation. don’t it on be whether that’s it my – important. actively if the final hold coming or that, the of those But as there’s

Dale Norton

appreciated. much trouble Okay, and you, thank clear time

Operator

reached I’d of session. We or the floor management to back end Instructions] our any the to [Operator over comments. question-and-answer for turn further like closing

Robert Palle

a at you your we’ll day and months, much three to very next call. participation, for have the and great great Thank next talk and you a

Operator

Thank That conclude you. does teleconference. today’s

disconnect and time, thank may have your participation at you day. for your You We line a today. this wonderful

Blonder Tongue Laboratories (BDRL) 14 Aug 182018 Q2 Earnings call transcript