$LGL
LGL GROUP INC

2023 Q1 Form 10-K Financial Statement

#000156459023005807 Filed on April 17, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022 Q2
Revenue $441.0K $524.0K $7.434M
YoY Change -94.56% -92.74% 8.02%
Cost Of Revenue $192.0K $837.0K $4.639M
YoY Change -96.21% -82.32% 11.76%
Gross Profit $249.0K $818.0K $2.795M
YoY Change -91.83% -67.1% 2.34%
Gross Profit Margin 56.46% 156.11% 37.6%
Selling, General & Admin $558.0K $2.865M $2.671M
YoY Change -80.25% -7.04% 26.29%
% of Gross Profit 224.1% 350.24% 95.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $16.00K $185.0K
YoY Change -100.0% -89.94% 35.04%
% of Gross Profit 0.0% 1.96% 6.62%
Operating Expenses $558.0K $2.865M $2.671M
YoY Change -80.25% -7.04% 26.29%
Operating Profit -$309.0K -$192.0K $124.0K
YoY Change -239.82% -67.79% -79.87%
Interest Expense $543.0K -$4.334M -$2.366M
YoY Change 1328.95% -79.6% 248.45%
% of Operating Profit -1908.06%
Other Income/Expense, Net $531.0K $29.00K -$8.000K
YoY Change 2313.64% -110.78% -98.69%
Pretax Income $222.0K -$163.0K -$2.250M
YoY Change -8.64% -99.26% -32242.86%
Income Tax $65.00K -$164.0K -$452.0K
% Of Pretax Income 29.28%
Net Earnings $157.0K $133.0K -$1.798M
YoY Change -7.1% -100.78% 9888.89%
Net Earnings / Revenue 35.6% 25.38% -24.19%
Basic Earnings Per Share $0.03 $0.02 -$0.34
Diluted Earnings Per Share $0.03 $0.02 -$337.1K
COMMON SHARES
Basic Shares Outstanding 5.353M 5.349M 5.334M
Diluted Shares Outstanding 5.353M 5.356M 5.334M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.39M $38.09M $41.50M
YoY Change -13.67% -15.69% 95.33%
Cash & Equivalents $21.50M $21.51M $22.33M
Short-Term Investments $16.89M $16.59M $19.18M
Other Short-Term Assets $551.0K $440.0K $331.0K
YoY Change 17.99% -10.93% 22.59%
Inventory $237.0K $265.0K $6.372M
Prepaid Expenses
Receivables $509.0K $543.0K $4.711M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $39.68M $39.34M $52.92M
YoY Change -29.27% -29.54% 66.83%
LONG-TERM ASSETS
Property, Plant & Equipment $1.000K $1.000K $3.797M
YoY Change -99.97% -99.97% 14.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $206.0K $234.0K $519.0K
YoY Change 171.05% 4580.0% -82.88%
Total Long-Term Assets $383.0K $445.0K $4.530M
YoY Change -90.71% -89.07% -61.22%
TOTAL ASSETS
Total Short-Term Assets $39.68M $39.34M $52.92M
Total Long-Term Assets $383.0K $445.0K $4.530M
Total Assets $40.07M $39.79M $57.45M
YoY Change -33.48% -33.59% 32.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $361.0K $310.0K $1.560M
YoY Change -76.98% -78.69% -0.51%
Accrued Expenses $416.0K $276.0K $1.881M
YoY Change -80.45% -88.36% 9.74%
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 $777.0K $587.0K $3.447M
YoY Change -82.72% -86.74% 5.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $643.0K $708.0K $632.0K
YoY Change 9.54% 15.5% 156.91%
Total Long-Term Liabilities $643.0K $708.0K $632.0K
YoY Change 9.54% 15.5% 156.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $777.0K $587.0K $3.447M
Total Long-Term Liabilities $643.0K $708.0K $632.0K
Total Liabilities $1.420M $1.295M $4.079M
YoY Change -72.07% -74.92% 15.62%
SHAREHOLDERS EQUITY
Retained Earnings -$7.172M -$7.329M
YoY Change -177.53%
Common Stock $46.40M $46.40M
YoY Change 1.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $38.65M $38.49M $53.37M
YoY Change
Total Liabilities & Shareholders Equity $40.07M $39.79M $57.45M
YoY Change -33.48% -33.59% 32.37%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022 Q2
OPERATING ACTIVITIES
Net Income $157.0K $133.0K -$1.798M
YoY Change -7.1% -100.78% 9888.89%
Depreciation, Depletion And Amortization $0.00 $16.00K $185.0K
YoY Change -100.0% -89.94% 35.04%
Cash From Operating Activities -$50.00K $14.00K -$333.0K
YoY Change -90.97% -98.76% -5.93%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$1.000K -$188.0K
YoY Change -100.0% -99.71% -45.51%
Acquisitions
YoY Change
Other Investing Activities $43.00K $181.0K $1.264M
YoY Change -100.65% -98.58% -146.39%
Cash From Investing Activities $43.00K $182.0K $1.076M
YoY Change -100.63% -98.53% -135.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -980.0K -70.00K
YoY Change 842.31%
NET CHANGE
Cash From Operating Activities -$50.00K 14.00K -333.0K
Cash From Investing Activities $43.00K 182.0K 1.076M
Cash From Financing Activities -980.0K -70.00K
Net Change In Cash -$7.000K -784.0K 673.0K
YoY Change -99.9% -105.84% -119.66%
FREE CASH FLOW
Cash From Operating Activities -$50.00K $14.00K -$333.0K
Capital Expenditures $0.00 -$1.000K -$188.0K
Free Cash Flow -$50.00K $15.00K -$145.0K
YoY Change -93.43% -98.98% 1511.11%

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17377000
CY2022 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
18121000
CY2021 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-22949000
CY2021 lgl Non Cash Donation Of Irnt Common Stock
NonCashDonationOfIRNTCommonStock
-1318000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1516000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3142000
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
613000
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
545000
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2330000
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
212000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
135000
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
226000
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-476000
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
574000
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1552000
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
801000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-817000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1352000
CY2021 lgl Payments To Subscription Agreement Funding
PaymentsToSubscriptionAgreementFunding
2725000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
662000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1099000
CY2022 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
2058000
CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
18548000
CY2022 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
7229000
CY2021 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
5318000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5833000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
9406000
CY2022 lgl Transfer To M Tron Industries Inc Related To Spin Off
TransferToMTronIndustriesIncRelatedToSpinOff
1000000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
191000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
178000
CY2022 lgl Payment For Taxes Related To Net Share Settlement Of Equity Awards
PaymentForTaxesRelatedToNetShareSettlementOfEquityAwards
50000
CY2021 lgl Payment For Taxes Related To Net Share Settlement Of Equity Awards
PaymentForTaxesRelatedToNetShareSettlementOfEquityAwards
251000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-859000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-73000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7509000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
10685000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29016000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18331000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21507000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29016000
CY2021 lgl Non Cash Distribution Of Iron Net Securities By Sponsor
NonCashDistributionOfIronNetSecuritiesBySponsor
65250000
CY2022 lgl Distribution Of M Tron Industries Inc Related To Spin Off
DistributionOfMTronIndustriesIncRelatedToSpinOff
-12790000
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
741000
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
72000
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-bottom:0pt;margin-top:10pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Uses of Estimates</p>The preparation of the consolidated financial statements in conformity with 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.
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2021 lgl Net Cash Provided By Used In Discontinued Operations Capital Expenditures
NetCashProvidedByUsedInDiscontinuedOperationsCapitalExpenditures
1099000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
20000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
78000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
100000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
21000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
21000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
21000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
15000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
78000
CY2021 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
12000
CY2022 lgl Disposal Group Including Discontinued Operation Other Income Expense Net
DisposalGroupIncludingDiscontinuedOperationOtherIncomeExpenseNet
-44000
CY2021 lgl Disposal Group Including Discontinued Operation Other Income Expense Net
DisposalGroupIncludingDiscontinuedOperationOtherIncomeExpenseNet
11000
CY2022 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
2445000
CY2021 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
2734000
CY2022 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
560000
CY2021 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
646000
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
1885000
CY2021 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
2088000
CY2022Q4 lgl Net Cash Provided By Used In Discontinued Operations Depreciation
NetCashProvidedByUsedInDiscontinuedOperationsDepreciation
496000
CY2021 lgl Net Cash Provided By Used In Discontinued Operations Depreciation
NetCashProvidedByUsedInDiscontinuedOperationsDepreciation
488000
CY2022Q4 lgl Net Cash Provided By Used In Discontinued Operations Amortization Of Finite Lived Intangible Assets
NetCashProvidedByUsedInDiscontinuedOperationsAmortizationOfFiniteLivedIntangibleAssets
42000
CY2021 lgl Net Cash Provided By Used In Discontinued Operations Amortization Of Finite Lived Intangible Assets
NetCashProvidedByUsedInDiscontinuedOperationsAmortizationOfFiniteLivedIntangibleAssets
54000
CY2022Q4 lgl Net Cash Provided By Used In Discontinued Operations Stock Based Compensation Expense
NetCashProvidedByUsedInDiscontinuedOperationsStockBasedCompensationExpense
26000
CY2021 lgl Net Cash Provided By Used In Discontinued Operations Stock Based Compensation Expense
NetCashProvidedByUsedInDiscontinuedOperationsStockBasedCompensationExpense
34000
CY2022Q4 lgl Net Cash Provided By Used In Discontinued Operations Capital Expenditures
NetCashProvidedByUsedInDiscontinuedOperationsCapitalExpenditures
662000
CY2022 lgl Warrants To Purchase Common Shares
WarrantsToPurchaseCommonShares
1051664
CY2021 lgl Warrants To Purchase Common Shares
WarrantsToPurchaseCommonShares
1051664
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5338417
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5275374
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
45249
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5383666
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5334087
CY2022 lgl Percentage Of Ultimate Settlement
PercentageOfUltimateSettlement
0.50
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-align:justify;margin-bottom:0pt;margin-top:10pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentration Risks</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:5pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In 2022, the Company's largest customer,<span style="color:#FF0000;"> </span>accounted for $312,000, or 18.9%,<span style="color:#FF0000;"> </span>of the Company's total revenues, compared to $540,000, or 37.3%, of the Company’s total revenues in 2021.<span style="color:#FF0000;"> </span>The Company’s second largest customer, accounted for $195,000, or 11.8%,<span style="color:#FF0000;"> </span>of the Company's total revenues, compared to $131,000, or 9.1%,<span style="font-family:Calibri;"> </span>of the Company’s total revenues<span style="font-family:Calibri;"> </span>in 2021.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:5pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A significant portion of the Company's accounts receivable is concentrated with a relatively small number of customers. As of December 31, 2022, two of the Company's largest customers accounted for approximately $394,000, or 62.6%, of accounts receivable. As of December 31, 2021, two of the Company's largest customers accounted for approximately $402,000, or 53.7%, of accounts receivable. The Company carefully evaluates the creditworthiness of its customers in deciding to extend credit. As a result of these policies, the Company has experienced very low historical bad debt expense and believes the related risk to be minimal.</p>At various times throughout the year and at December 31, 2022 and 2021, some deposits held at financial institutions were in excess of federally insured limits. The Company has not experienced any losses related to these balances.
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
2635000
CY2021Q4 lgl Disposal Group Including Discontinued Operation Accounts Receivable Allowance For Credit Loss
DisposalGroupIncludingDiscontinuedOperationAccountsReceivableAllowanceForCreditLoss
131000
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
3995000
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Inventory Current
DisposalGroupIncludingDiscontinuedOperationInventoryCurrent
5221000
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Prepaid And Other Assets Current
DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssetsCurrent
242000
CY2021Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
12093000
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Noncurrent
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent
3382000
CY2021Q4 lgl Disposal Group Including Discontinued Operation Operating Lease Right Of Use Asset
DisposalGroupIncludingDiscontinuedOperationOperatingLeaseRightOfUseAsset
218000
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Deferred Tax Assets
DisposalGroupIncludingDiscontinuedOperationDeferredTaxAssets
441000
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Other Noncurrent Assets
DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentAssets
157000
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
4198000
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Payable Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent
1396000
CY2021Q4 lgl Disposal Group Including Discontinued Operation Accrued Compensation And Commissions Expense
DisposalGroupIncludingDiscontinuedOperationAccruedCompensationAndCommissionsExpense
1213000
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Other Current Liabilities
DisposalGroupIncludingDiscontinuedOperationOtherCurrentLiabilities
424000
CY2021Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
3033000
CY2021Q4 lgl Disposal Group Including Discontinued Operation Long Term Lease Liability
DisposalGroupIncludingDiscontinuedOperationLongTermLeaseLiability
145000
CY2021Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
145000
CY2022 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
23529000
CY2021 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
26694000
CY2022 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
15164000
CY2021 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
17358000
CY2022 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
5870000
CY2021 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
6601000
CY2022 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
6000
CY2019Q4 us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
3350000
CY2019Q4 lgl Proceeds From Subscription Of Investment
ProceedsFromSubscriptionOfInvestment
2725000
CY2022 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
-22649000
CY2021 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
-16962000
CY2022 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
18121000
CY2021 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-22949000
CY2022Q4 us-gaap Assets Under Management Carrying Amount
AssetsUnderManagementCarryingAmount
26811000
CY2021Q4 us-gaap Assets Under Management Carrying Amount
AssetsUnderManagementCarryingAmount
15595000
CY2022 lgl Fund Management Fee Percent
FundManagementFeePercent
0.0052
CY2022Q4 lgl Number Of Mutual Fund Investment
NumberOfMutualFundInvestment
4
CY2021Q4 lgl Number Of Mutual Fund Investment
NumberOfMutualFundInvestment
4
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
49000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
47000
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
12000
CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
11000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
258000
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
253000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
7000
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
6000
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
12000
CY2022Q4 us-gaap Inventory Net
InventoryNet
265000
CY2021Q4 us-gaap Inventory Net
InventoryNet
271000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-147000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
588000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
209000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
69000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
62000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
657000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-1411000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
2893000
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-180000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
301000
CY2022 lgl Deferred Income Tax Expense Benefit Before Change In Valuation Allowance
DeferredIncomeTaxExpenseBenefitBeforeChangeInValuationAllowance
-1591000
CY2021 lgl Deferred Income Tax Expense Benefit Before Change In Valuation Allowance
DeferredIncomeTaxExpenseBenefitBeforeChangeInValuationAllowance
3194000
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-379000
CY2022 lgl Net Deferred Tax Expense Benefit
NetDeferredTaxExpenseBenefit
-1591000
CY2021 lgl Net Deferred Tax Expense Benefit
NetDeferredTaxExpenseBenefit
2815000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1529000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3472000
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1344000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
3365000
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-114000
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
371000
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
43000
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
-278000
CY2022 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
0
CY2021 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
116000
CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-17000
CY2021 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-379000
CY2022 lgl Income Tax Reconciliation Change In Uncertain Tax Positions
IncomeTaxReconciliationChangeInUncertainTaxPositions
29000
CY2021 lgl Income Tax Reconciliation Change In Uncertain Tax Positions
IncomeTaxReconciliationChangeInUncertainTaxPositions
458000
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-126000
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
51000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1529000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3472000
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.239
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.217
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
19000
CY2022Q4 lgl Deferred Tax Assets Operating Lease Liability
DeferredTaxAssetsOperatingLeaseLiability
31000
CY2021Q4 lgl Deferred Tax Assets Operating Lease Liability
DeferredTaxAssetsOperatingLeaseLiability
48000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
17000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
72000
CY2022Q4 lgl Deferred Tax Assets Unrealized Gains On Marketable Securities
DeferredTaxAssetsUnrealizedGainsOnMarketableSecurities
166000
CY2021Q4 lgl Deferred Tax Liabilities Unrealized Gains On Marketable Securities
DeferredTaxLiabilitiesUnrealizedGainsOnMarketableSecurities
1024000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
8000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
41000
CY2022Q4 lgl Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
31000
CY2021Q4 lgl Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
48000
CY2022Q4 lgl Deferred Tax Assets Depreciation And Amortization
DeferredTaxAssetsDepreciationAndAmortization
11000
CY2021Q4 lgl Deferred Tax Assets Depreciation And Amortization
DeferredTaxAssetsDepreciationAndAmortization
9000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
318000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
23000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
265000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
31000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
541000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1072000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
234000
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
531000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
637000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
458000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
142000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
29000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
37000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
429000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
637000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
458000
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