$LGL
LGL GROUP INC

2024 Q2 Form 10-Q Financial Statement

#000143774924017094 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $1.068M $888.0K
YoY Change 165.01% 101.36%
Cost Of Revenue $214.0K $204.0K
YoY Change 2.88% 6.25%
Gross Profit $317.0K $188.0K
YoY Change 62.56% -24.5%
Gross Profit Margin 29.68% 21.17%
Selling, General & Admin $617.0K $605.0K
YoY Change -2.53% 8.42%
% of Gross Profit 194.64% 321.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.000K $5.000K
YoY Change 200.0%
% of Gross Profit 1.89% 2.66%
Operating Expenses $617.0K $605.0K
YoY Change -2.53% 8.42%
Operating Profit -$300.0K -$417.0K
YoY Change -31.51% 34.95%
Interest Expense $537.0K $496.0K
YoY Change 68.87% -8.66%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $237.0K $79.00K
YoY Change -279.55% -64.41%
Income Tax $76.00K $36.00K
% Of Pretax Income 32.07% 45.57%
Net Earnings $137.0K $21.00K
YoY Change -205.38% -86.62%
Net Earnings / Revenue 12.83% 2.36%
Basic Earnings Per Share $0.03 $0.00
Diluted Earnings Per Share $0.02 $0.00
COMMON SHARES
Basic Shares Outstanding 5.353M 5.373M
Diluted Shares Outstanding 5.483M 5.604M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.09M $40.89M
YoY Change 1.87% 6.52%
Cash & Equivalents $41.07M $40.87M
Short-Term Investments $18.00K $19.00K
Other Short-Term Assets $236.0K $315.0K
YoY Change -11.28% -42.83%
Inventory $336.0K $213.0K
Prepaid Expenses
Receivables $339.0K $269.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $42.00M $41.69M
YoY Change 1.94% 5.05%
LONG-TERM ASSETS
Property, Plant & Equipment $41.00K $61.00K
YoY Change 6000.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $151.0K
YoY Change -26.7%
Total Long-Term Assets $244.0K $264.0K
YoY Change -34.93% -31.07%
TOTAL ASSETS
Total Short-Term Assets $42.00M $41.69M
Total Long-Term Assets $244.0K $264.0K
Total Assets $42.25M $41.95M
YoY Change 1.61% 4.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $223.0K $235.0K
YoY Change 284.48% -34.9%
Accrued Expenses $325.0K $267.0K
YoY Change -26.97% -35.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $621.0K $516.0K
YoY Change 23.46% -33.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $722.0K $701.0K
YoY Change 5.09% 9.02%
Total Long-Term Liabilities $722.0K $701.0K
YoY Change 5.09% 9.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $621.0K $516.0K
Total Long-Term Liabilities $722.0K $701.0K
Total Liabilities $1.343M $1.217M
YoY Change 12.86% -14.3%
SHAREHOLDERS EQUITY
Retained Earnings -$6.902M -$7.039M
YoY Change -5.48% -1.85%
Common Stock $46.42M $46.41M
YoY Change 0.05% 0.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $38.94M $38.79M
YoY Change
Total Liabilities & Shareholders Equity $42.25M $41.95M
YoY Change 1.61% 4.7%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $137.0K $21.00K
YoY Change -205.38% -86.62%
Depreciation, Depletion And Amortization $6.000K $5.000K
YoY Change 200.0%
Cash From Operating Activities $203.0K $160.0K
YoY Change 395.12% -420.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities 203.0K $160.0K
Cash From Investing Activities 0.000 $0.00
Cash From Financing Activities
Net Change In Cash 203.0K $160.0K
YoY Change -98.92% -2385.71%
FREE CASH FLOW
Cash From Operating Activities $203.0K $160.0K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21500000 usd
CY2024Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
76000 usd
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
134000 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"><i><b>Use of Estimates</b></i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2023Q4 us-gaap Assets
Assets
41850000 usd
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 pure
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
392000 usd
CY2024Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
499000 usd
CY2024Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
-3000 usd
CY2024Q1 us-gaap Revenues
Revenues
888000 usd
CY2024Q1 us-gaap Manufacturing Costs
ManufacturingCosts
204000 usd
CY2024Q1 lgl Engineering Selling And Administrative
EngineeringSellingAndAdministrative
605000 usd
CY2024Q1 us-gaap Costs And Expenses
CostsAndExpenses
809000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
79000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
36000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
43000 usd
CY2024Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
43000 usd
CY2024Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
22000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
21000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
441000 usd
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
198000 usd
CY2023Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
345000 usd
CY2023Q1 us-gaap Revenues
Revenues
984000 usd
CY2023Q1 us-gaap Manufacturing Costs
ManufacturingCosts
192000 usd
CY2023Q1 lgl Engineering Selling And Administrative
EngineeringSellingAndAdministrative
542000 usd
CY2023Q1 us-gaap Costs And Expenses
CostsAndExpenses
734000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
250000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
65000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
185000 usd
CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-28000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
157000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
157000 usd
CY2024Q1 us-gaap Assets
Assets
41951000 usd
CY2024Q1 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
19000 usd
CY2024Q1 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
34000 usd
CY2024Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-15000 usd
CY2023Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
22000 usd
CY2023Q4 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
34000 usd
CY2023 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-12000 usd
CY2024Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
499000 usd
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
198000 usd
CY2024Q1 us-gaap Investment Income Net
InvestmentIncomeNet
499000 usd
CY2023Q1 us-gaap Investment Income Net
InvestmentIncomeNet
198000 usd
CY2024Q1 us-gaap Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
-3000 usd
CY2023Q1 us-gaap Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
345000 usd
CY2024Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
-3000 usd
CY2023Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
345000 usd
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.462 pure
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.293 pure
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
43000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
185000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
22000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
0 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
21000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
185000 usd
CY2024Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 usd
CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-28000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
21000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
157000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5352937
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5352937
CY2024Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
246422
CY2023Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
5071
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5604430
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5352937
CY2024Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.03
CY2024Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2024Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.03
CY2024Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.01
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2024Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
279000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
271000 usd
CY2024Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
14000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
9000 usd
CY2024Q1 us-gaap Inventory Gross
InventoryGross
293000 usd
CY2023Q4 us-gaap Inventory Gross
InventoryGross
280000 usd
CY2024Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
80000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
76000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
213000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
204000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
214000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
214000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
162000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
157000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
52000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
57000 usd

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