Blonder Tongue Laboratories Inc. said net sales for the first quarter grew 1.3 percent to roughly $10.9 million.
The company said the increase was attributable to sales of the Motorola QAM decoder, which was introduced in the fourth quarter of last year. That product offset a reduction in Q1 cable interdiction equipment sales, which notched just north of $1 million during the first quarter, compared to $2.9 million in the year-ago period.
Blonder Tongue also reported diluted earnings per share before cumulative effect of change in accounting principle, net of tax of 2 cents per share, versus a loss 3 cents per share in the prior year period.
Though "business activity is brisk," Blonder Tongue modified previously issued guidance, anticipating second quarter sales of between $13 million and $14 million, with diluted earnings per share of 8 cents to 11 cents per share.