Blonder Tongue Laboratories, Inc.

Good morning, ladies and gentlemen, and welcome to the Blonder Tongue Laboratory's fourth quarter 2020 earnings call. At this time, all participants have been placed on a listen-only mode, and the floor will be open for questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Ted Rao. Sir, the floor is yours.

Hi, thank you. Good morning, everyone, and thank you for joining us and participating in our 2020 earnings fourth quarter and full year earnings call. I'm Ted Grau, the Chief Executive Officer and President of the company. As we give our remarks this morning, we will be discussing certain subjects that will contain forward-looking statements, including management's view of our prospects and evolving trends in the market. As you know, the future is all but impossible to predict, and so I caution you that actual results may differ materially from those that may be projected in our comments. We would ask you to refer to our prior SEC filings, including our Form 10-K for 2019 and our filed Q forms for the first, second, and third quarters of 2020 for additional detailed information concerning factors that could cause actual results to differ from the information discussed this morning. With me today are Steve Shea, Chairman of the Board of Blonder Tongue Laboratories. and Eric Skolnick, our Chief Financial Officer and Senior Vice President. Eric's remarks will follow mine and will cover our detailed financial results. All of us will be available to answer questions you may have during a Q&A session immediately following our prepared remarks. As we all already know, and as I have mentioned in the last three quarterly earnings calls, Most businesses in the U.S., including Blondertongue Labs, have been facing a very difficult pandemic-affected marketplace since March of 2020, one year ago. In response to this crisis in the marketplace, we made specific decisions to focus the resources of the company during the last year to complete a number of major organizational changes, R&D and intellectual property investments, product development programs, and a major inventory reduction program. The acceleration of our operational restructuring in 2020 was completed in January of this year, 2021, along with work to streamline both our manufacturing and engineering processes. The net result has been a lowering of the company's operating costs by approximately $940,000 during the full year of 2020 versus 2019, and additional reductions that have been implemented in Q1 2021 so far. The company's operating expenses are now reduced by approximately $192,000 per month versus one year ago, and we are planning to at least maintain that level of operational efficiency going forward, at least. Our initiatives to complete IP investments yielded the company several patent grants in 2020, and which covered a number of unique aspects of our flagship NXG digital video signal processing platform,

and our DOCSIS data delivery product lines.