Blonder Tongue (BDR) and CTI Group (CTIG.ob)

BDR reported Q4 and 2006 year results. About what we expected. Our valuation dropped from $5.88 to $5.12. Our $5.88 valuation was based on estimating the impact of the various transactions BDR did late in 2006 (patent sale, Broadband sale, stock buy-back). Now with the real numbers, our valuation is more solid. Trading at $2.32, BDR is still trading at less than 50% of our valuation (45%). Up 27%. HOLD

CTIG.ob also reported Q4 and 2006 year numbers. The important numbers are in their Form 10K–the pro-forma numbers for the Ryder acquisition. Our new valuation is $1.42, up from $1.28. At $.39 asked, this is still only 27% of our valuation. Up 44% based on ask price. BUY


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