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Blonder Tongue Laboratories Inc. Message Board

  • FIFO_kid2 FIFO_kid2 Aug 15, 2001 10:32 AM Flag

    watts

    Watts-

    The subpar performance and lumpy sales has been attributed to:

    1)Interdiction its blockbuster technology that the company spent lots of time trying to win exclusitivity for (litigation against SFA and then the last 2-3 years lack of penetration in the commercial cable market).

    2) the consolidation of the number of players in the private cable market which BDR is the main supplier to.

    Interdiction is a product that prevents cable theft in multiple dwelling units and is the key to the huge success of this company. So far the product's penetration has been very disappointing as only Cablevision in the New York metro has installed the product to date. However, the payback period has been demonstrated to be as short as 9 months on the equipment in studies and that is where I am totally convinced the power SFA and MOT's GIC subsidiary has in the industry. BDR just does not have visibilty among the major cable providers. Given this excellent return on investment for the equipment I would think it would become deployed eventually. So far it has tried to go alone in marketing the product but I think the company should perhaps evaluate that strategy. A marketing agreement with MOT is an option that has never been discussed but perhaps could be the key to jumpstart the product.


    For now what is driving the company is its QQQT transcoder line, a product that can be deployed for half the cost of its competitionh can digitize existing small systems (as the digital cable craze is upon us).

    I also believe BDR would make an excellent take over candidate for MOT but I know the price would have to be very high for mgmt to accept it but then again the chairman is not young and may accept something lower than they originally planned.

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    • Musti- It can be done MXM of which (of course I never owned but have followed for its potential huge leverage in earnings) actually has a 17 to one ratio.

      Watts- If you don't like BDR's past inconsistent performance then by all means go with ASW (as recommended time and time again).

    • That may be but their litigation was finished awhile ago, and yet their current numbers are no better than they have been previously. And where is the evidence of market penetration? I'm sorry but 12.7 million in revenues (a 29% year over year decrease) for the last quarter doesn't qualify in my book. There is no evidence that the sequental growth predicted in the next 2 quarters is sustainable, just look at past performance. If they can keep it up this stock will rise substantially though, I agree with all of you there.
      Yet I still think their management is crap. I mean who names a company Blonder Tongue. It makes me think of a 50 cent whore. Their financial statement was poorly done as well. I mean just compare the info it gives to that of any other company; its garbage. Also its real cute how they magically switched 12 million in long term debt (on their balance sheet as of 12/31/00) to 2 million currently, with virtually no earnings. They just threw it under current liabilities. They aren't current since there is no way they can possibly be paid off within the next few months. These aren't accounts payable; they are costly lones. No, they have 14 times as much debt as they do cash! I sure hope they meet those estimates. Oh I didn't like their website either.

      • 3 Replies to Watts1500
      • From a buy to a basher in just one post. Just MY 2 cents. You can move on now.

      • Gosh, talk about a one-sided negative post.

        1. Regarding year over numbers, one year ago the stock was over $7, today it is four bucks, so to compare numbers without taking into account a devasted, current stock price makes no sense.

        2. The numbers have historically been choppy, but the current guidance is superb. Plus, how many companies are even giving guidance in this market.

        3. The fact that BDR has become a strong growth play in this horrible market is very impressive.

        4. BDR never operated on much cash, your ratio is of no new news. Their current ratio is fine, even if they don't meet the numbers, unlike your comment that you ".. sure hope they meet their numbers...". The balance sheet is absolutely fine for current and future market conditions, that's all that matters.

        5. No inventory writedowns, the book value looks quite real and is substantially higher then the stock price/ Add to that very nice projected EPS numbers over the next couple quarters, and it is plain to see why the volume is WAY UP and people are BUYING. I'm sure there will be pullbacks, but the trend imo appears up.

        6. Net/net: the company is in a substantially better position then they were one year ago when there stock was nearly twice as high. And this time around, they even have visibility into the rest of the year.

        7. I agree, the name of the company is nothing to write home about, something a little more "modern/upbeat" could only help.


        8. Someone out there recognizes the stock as a steal at $4.

 
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