$LGL
LGL GROUP INC

2023 Q2 Form 10-Q Financial Statement

#000143774923014553 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $403.0K $441.0K $8.108M
YoY Change -94.58% -94.56% 24.05%
Cost Of Revenue $208.0K $192.0K $5.061M
YoY Change -95.52% -96.21% 15.0%
Gross Profit $195.0K $249.0K $3.047M
YoY Change -93.02% -91.83% 42.72%
Gross Profit Margin 48.39% 56.46% 37.58%
Selling, General & Admin $633.0K $558.0K $2.826M
YoY Change -76.3% -80.25% 28.75%
% of Gross Profit 324.62% 224.1% 92.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.000K $0.00 $166.0K
YoY Change -98.92% -100.0% 44.35%
% of Gross Profit 1.03% 0.0% 5.45%
Operating Expenses $633.0K $558.0K $2.826M
YoY Change -76.3% -80.25% 28.75%
Operating Profit -$438.0K -$309.0K $221.0K
YoY Change -453.23% -239.82% -468.33%
Interest Expense $318.0K $543.0K $38.00K
YoY Change -113.44% 1328.95% -148.1%
% of Operating Profit 17.19%
Other Income/Expense, Net $306.0K $531.0K $22.00K
YoY Change -3925.0% 2313.64% -76.34%
Pretax Income -$132.0K $222.0K $243.0K
YoY Change -94.13% -8.64% 636.36%
Income Tax -$2.000K $65.00K $74.00K
% Of Pretax Income 29.28% 30.45%
Net Earnings -$130.0K $157.0K $169.0K
YoY Change -92.77% -7.1% 525.93%
Net Earnings / Revenue -32.26% 35.6% 2.08%
Basic Earnings Per Share -$0.02 $0.03 $0.03
Diluted Earnings Per Share -$0.02 $0.03 $0.03
COMMON SHARES
Basic Shares Outstanding 5.353M 5.353M 5.324M
Diluted Shares Outstanding 5.353M 5.353M 5.345M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.34M $38.39M $44.47M
YoY Change -2.8% -13.67% 80.79%
Cash & Equivalents $40.31M $21.50M $21.65M
Short-Term Investments $25.00K $16.89M $22.82M
Other Short-Term Assets $266.0K $551.0K $467.0K
YoY Change -19.64% 17.99% 27.95%
Inventory $226.0K $237.0K $5.919M
Prepaid Expenses
Receivables $373.0K $509.0K $5.255M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $41.20M $39.68M $56.11M
YoY Change -22.13% -29.27% 64.0%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $1.000K $3.811M
YoY Change -100.0% -99.97% 22.11%
Goodwill $40.00K
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $216.0K $206.0K $76.00K
YoY Change -58.38% 171.05% 18.75%
Total Long-Term Assets $375.0K $383.0K $4.121M
YoY Change -91.72% -90.71% -66.32%
TOTAL ASSETS
Total Short-Term Assets $41.20M $39.68M $56.11M
Total Long-Term Assets $375.0K $383.0K $4.121M
Total Assets $41.58M $40.07M $60.23M
YoY Change -27.62% -33.48% 29.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $58.00K $361.0K $1.568M
YoY Change -96.28% -76.98% 3.36%
Accrued Expenses $445.0K $416.0K $2.128M
YoY Change -76.34% -80.45% 3.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $503.0K $777.0K $4.497M
YoY Change -85.41% -82.72% -28.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $687.0K $643.0K $587.0K
YoY Change 8.7% 9.54% 115.81%
Total Long-Term Liabilities $687.0K $643.0K $587.0K
YoY Change 8.7% 9.54% 115.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $503.0K $777.0K $4.497M
Total Long-Term Liabilities $687.0K $643.0K $587.0K
Total Liabilities $1.190M $1.420M $5.084M
YoY Change -70.83% -72.07% -22.74%
SHAREHOLDERS EQUITY
Retained Earnings -$7.302M -$7.172M
YoY Change
Common Stock $46.40M $46.40M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $38.52M $38.65M $55.15M
YoY Change
Total Liabilities & Shareholders Equity $41.58M $40.07M $60.23M
YoY Change -27.62% -33.48% 29.66%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$130.0K $157.0K $169.0K
YoY Change -92.77% -7.1% 525.93%
Depreciation, Depletion And Amortization $2.000K $0.00 $166.0K
YoY Change -98.92% -100.0% 44.35%
Cash From Operating Activities $41.00K -$50.00K -$554.0K
YoY Change -112.31% -90.97% -237.81%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $207.0K
YoY Change -100.0% -100.0% -476.36%
Acquisitions
YoY Change
Other Investing Activities $18.77M $43.00K -$6.603M
YoY Change 1385.21% -100.65%
Cash From Investing Activities $18.77M $43.00K -$6.810M
YoY Change 1644.7% -100.63% 12281.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 41.00K -$50.00K -554.0K
Cash From Investing Activities 18.77M $43.00K -6.810M
Cash From Financing Activities 0.000
Net Change In Cash 18.81M -$7.000K -7.364M
YoY Change 2695.54% -99.9% -2222.19%
FREE CASH FLOW
Cash From Operating Activities $41.00K -$50.00K -$554.0K
Capital Expenditures $0.00 $0.00 $207.0K
Free Cash Flow $41.00K -$50.00K -$761.0K
YoY Change -128.28% -93.43% -266.52%

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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7364000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21507000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
29016000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21500000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21652000 usd
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
134000 usd
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
50000 usd
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
7691000 usd
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
4819000 usd
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
1804000 usd
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
3000 usd
CY2022Q1 lgl Disposal Group Including Discontinued Operation Other Income Expense Net
DisposalGroupIncludingDiscontinuedOperationOtherIncomeExpenseNet
-17000 usd
CY2022Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
1048000 usd
CY2022Q1 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
240000 usd
CY2022Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
808000 usd
CY2022Q1 lgl Net Cash Provided By Used In Discontinued Operations Depreciation
NetCashProvidedByUsedInDiscontinuedOperationsDepreciation
148000 usd
CY2022Q1 lgl Net Cash Provided By Used In Discontinued Operations Amortization Of Finite Lived Intangible Assets
NetCashProvidedByUsedInDiscontinuedOperationsAmortizationOfFiniteLivedIntangibleAssets
13000 usd
CY2022Q1 lgl Net Cash Provided By Used In Discontinued Operations Stock Based Compensation Expense
NetCashProvidedByUsedInDiscontinuedOperationsStockBasedCompensationExpense
219000 usd
CY2022Q1 lgl Net Cash Provided By Used In Discontinued Operations Capital Expenditures
NetCashProvidedByUsedInDiscontinuedOperationsCapitalExpenditures
207000 usd
CY2023Q1 us-gaap Subsidiary Or Equity Method Investee Cumulative Percentage Ownership After All Transactions
SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions
0.10 pure
CY2023Q1 us-gaap Assets Under Management Carrying Amount
AssetsUnderManagementCarryingAmount
37772000 usd
CY2023Q1 lgl Fund Management Fee Percent
FundManagementFeePercent
0.0040 pure
CY2022Q4 us-gaap Assets Under Management Carrying Amount
AssetsUnderManagementCarryingAmount
26811000 usd
CY2023Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
58000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
49000 usd
CY2023Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
228000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
258000 usd
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
9000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
7000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
237000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
265000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5352937
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5323973
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5352937
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5323973
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.293 pure
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.206 pure

Files In Submission

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lgl-20230331_pre.xml Edgar Link unprocessable
0001437749-23-014553-index-headers.html Edgar Link pending
0001437749-23-014553-index.html Edgar Link pending
0001437749-23-014553.txt Edgar Link pending
0001437749-23-014553-xbrl.zip Edgar Link pending
ex_518825.htm Edgar Link pending
ex_518826.htm Edgar Link pending
ex_518827.htm Edgar Link pending
ex_518828.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
lgl-20230331.xsd Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
lgl-20230331_cal.xml Edgar Link unprocessable
lgl-20230331_def.xml Edgar Link unprocessable
lgl-20230331_lab.xml Edgar Link unprocessable
lglg20230331_10q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
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lglg20230331_10q_htm.xml Edgar Link completed