Blonder Tongue Laboratories, Inc. Reports Net Loss of $2.92 Million for 2022
Revenue Increases to $18.12 Million for Blonder Tongue Laboratories, Inc. in 2022
Blonder Tongue Laboratories, Inc.(BDRL), a leading provider of video signal dist ribution solutions, has released its consolidated financial statements for the year ended December 31, 2022. The company reported a net loss of $2.92 million, compared to a net income of $84,000 in the previous year. However, Blonder Tongue saw an increase in revenue, reaching $18.12 million, up from $15.75 million in 2021. The financial results reflect the company's efforts to navigate the challenges posed by the COVID-19 pandemic and drive growth in its core business areas.**
Net Loss of $2.92 Million in 2022
Blonder Tongue Laboratories, Inc. recorded a net loss of $2.92 million for the year ended December 31, 2022. This represents a significant decrease compared to the net income of $84,000 reported in the previous year. The net loss can be attributed to various factors, including increased operating expenses and a gain on debt forgiveness in 2021 that was not present in 2022.
Revenue Increases to $18.12 Million in 2022
