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Share Name | Share Symbol | Market | Type |
---|---|---|---|
LGL Group Inc | AMEX:LGL | AMEX | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.75 | 5.75 | 5.75 | 5.75 | 3 | 15:10:09 |
THE LGL GROUP, INC.
|
||
(Exact Name of Registrant as Specified in Charter)
|
||
|
|
|
Delaware
|
1-106
|
38-1799862
|
(State or Other Jurisdiction
of Incorporation) |
(Commission
File Number) |
(IRS Employer
Identification No.) |
|
|
|
2525 Shader Road, Orlando, FL
|
32804
|
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
|
(Former Name or Former Address, If Changed Since Last Report)
|
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01. | Regulation FD Disclosure. |
Exhibit No.
|
Description
|
99.1
|
Press Release dated May 13, 2014.
|
99.2
|
Investor Presentation dated May 13, 2014.
|
May 14, 2014
|
THE LGL GROUP, INC.
|
||
By:
|
/s/ R. LaDuane Clifton
|
||
Name:
|
R. LaDuane Clifton
|
||
Title:
|
Chief Financial Officer
|
Exhibit No.
|
Description
|
99.1
|
Press Release dated May 13, 2014.
|
99.2
|
Investor Presentation dated May 13, 2014.
|
-
|
Revenues of $6.1 million, a decrease of 17.6% compared to Q1 2013
|
-
|
Net loss of ($0.8) million, or ($0.31) per share
|
-
|
Adjusted EBITDA loss of ($0.5) million, or ($0.18) per share
|
-
|
Gross margin of 26.0%
|
-
|
Backlog improves to $9.1 million at end of Q1 2014 vs. end of Q4 2013
|
-
|
Completed acquisition of filter product line assets from Trilithic
|
For the quarter ended March 31,
|
2014
|
2013
|
||||||
|
||||||||
REVENUES
|
$
|
6,131
|
$
|
7,398
|
||||
Cost and expenses:
|
||||||||
Manufacturing cost of sales
|
4,535
|
4,996
|
||||||
Engineering, selling and administrative
|
2,410
|
2,680
|
||||||
OPERATING LOSS
|
(814
|
)
|
(278
|
)
|
||||
Total other income (expense)
|
5
|
|
(18
|
) | ||||
LOSS BEFORE INCOME TAXES
|
(809
|
)
|
(296
|
)
|
||||
Income tax benefit
|
--
|
|
213
|
|||||
|
||||||||
NET LOSS
|
$
|
(809
|
)
|
$
|
(83
|
)
|
||
|
||||||||
Weighted average number of shares used in basic and diluted EPS calculation.
|
2,594,784
|
2,598,144
|
||||||
|
||||||||
BASIC AND DILUTED NET LOSS PER COMMON SHARE.
|
$
|
(0.31
|
)
|
$
|
(0.03
|
)
|
|
March 31, 2014
|
December 31, 2013
|
||||||
ASSETS
|
||||||||
Cash and cash equivalents
|
$
|
6,097
|
$
|
7,183
|
||||
Restricted cash
|
1,500
|
1,500
|
||||||
Accounts receivable, less allowances of $62 and $4279, respectively
|
3,771
|
3,237
|
||||||
Inventories, net
|
4,379
|
4,629
|
||||||
Prepaid expenses and other current assets
|
309
|
405
|
||||||
Total current assets
|
16,056
|
16,954
|
||||||
Property, plant and equipment, net
|
3,906
|
3,986
|
||||||
Other assets, net
|
838
|
323
|
||||||
Total assets
|
20,800
|
21,263
|
||||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Total Current Liabilities
|
4,768
|
4,508
|
||||||
Stockholders' Equity
|
16,032
|
16,755
|
||||||
Total Liabilities and Stockholders' Equity
|
$
|
20,800
|
$
|
21,263
|
For the quarter ended March 31, 2014
|
Dollars
(000's)
|
Amounts
Per Share
|
||||||
|
||||||||
Net loss before income taxes
|
$
|
(809
|
)
|
$
|
(0.31
|
)
|
||
Add: Interest expense
|
8
|
|||||||
Add: Depreciation and amortization
|
235
|
0.09
|
||||||
Add: Non-cash stock compensation
|
90
|
0.03
|
||||||
Adjusted EBITDA loss
|
$
|
(476
|
)
|
$
|
(0.18
|
)
|
||
|
||||||||
Weighted average number of shares used in basic and diluted EPS calculation
|
2,594,784
|
For the quarter ended March 31, 2013
|
Dollars
(000's)
|
Amounts
Per Share
|
||||||
|
||||||||
Net loss before income taxes
|
$
|
(296
|
)
|
$
|
(0.11
|
)
|
||
Add: Interest expense
|
19
|
|||||||
Add: Depreciation and amortization
|
240
|
0.09
|
||||||
Add: Non-cash stock compensation
|
110
|
0.04
|
||||||
Adjusted EBITDA income
|
$
|
73
|
$
|
0.03
|
||||
|
||||||||
Weighted average number of shares used in basic and diluted EPS calculation
|
2,598,144
|
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