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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 | |
---|---|---|---|---|---|---|---|---|
0.06 | 1.12% | 5.40 | 5.40 | 5.26 | 5.40 | 237 | 18:52:45 |
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 2.02. | Results of Operations and Financial Condition. |
Item 7.01. | Regulation FD Disclosure. |
Exhibit No.
|
Description
|
99.1
|
Press Release dated August 13, 2015.
|
August 13, 2015
|
THE LGL GROUP, INC.
|
||
By:
|
/s/ Patti A. Smith
|
||
Name:
|
Patti A. Smith
|
||
Title:
|
Chief Financial Officer
|
Exhibit No.
|
Description
|
99.1
|
Press Release dated August 13, 2015.
|
·
|
Revenues of $5.5 million, a decrease of 6.5% compared to Q2 2014
|
·
|
Gross margin of 32.7%
|
·
|
Net loss of ($0.08) per diluted share vs. ($0.49) per diluted share in Q2 2014
|
·
|
Adjusted EBITDA of $0.2 million, a year-over-year improvement of $0.7 million
|
·
|
Backlog improves to $8.9 million at 6/30/2015 vs. $8.7 million at 3/31/2015
|
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
|||||||||||||||
2015
|
2014
|
2015
|
2014
|
|||||||||||||
REVENUES
|
$
|
5,471
|
$
|
5,850
|
$
|
10,875
|
$
|
11,981
|
||||||||
Cost and Expenses:
|
||||||||||||||||
Manufacturing cost of sales
|
3,683
|
4,485
|
7,288
|
9,020
|
||||||||||||
Engineering, selling and administrative
|
2,121
|
2,246
|
4,081
|
4,656
|
||||||||||||
Restructuring expense
|
—
|
397
|
—
|
397
|
||||||||||||
OPERATING LOSS
|
(333
|
)
|
(1,278
|
)
|
(494
|
)
|
(2,092
|
)
|
||||||||
Other Income (Expense):
|
||||||||||||||||
Interest expense, net
|
(4
|
)
|
(8
|
)
|
(9
|
)
|
(16
|
)
|
||||||||
Other income, net
|
147
|
17
|
135
|
30
|
||||||||||||
Total Other Income (Expense)
|
143
|
9
|
126
|
14
|
||||||||||||
LOSS BEFORE INCOME TAXES
|
(190
|
)
|
(1,269
|
)
|
(368
|
)
|
(2,078
|
)
|
||||||||
Income tax provision
|
(11
|
)
|
—
|
(11
|
)
|
—
|
||||||||||
NET LOSS
|
$
|
(201
|
)
|
$
|
(1,269
|
)
|
$
|
(379
|
)
|
$
|
(2,078
|
)
|
||||
Weighted average number of shares used in basic and diluted net loss per common share calculation.
|
2,637,719
|
2,594,743
|
2,627,160
|
2,594,764
|
||||||||||||
BASIC AND DILUTED NET LOSS PER COMMON SHARE
|
$
|
(0.08
|
)
|
$
|
(0.49
|
)
|
$
|
(0.14
|
)
|
$
|
(0.80
|
)
|
June 30, 2015
|
December 31, 2014
|
|||||||
ASSETS
|
||||||||
Cash and cash equivalents
|
$
|
5,431
|
$
|
5,192
|
||||
Accounts receivable, less allowances of $38 and $43, respectively
|
2,962
|
3,266
|
||||||
Inventories, net
|
3,765
|
4,198
|
||||||
Prepaid expenses and other current assets
|
222
|
278
|
||||||
Total current assets
|
12,380
|
12,934
|
||||||
Property, plant and equipment, net
|
3,416
|
3,547
|
||||||
Intangible assets, net
|
502
|
528
|
||||||
Other assets, net
|
249
|
253
|
||||||
Total assets
|
$
|
16,547
|
$
|
17,262
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Total Liabilities
|
2,563
|
3,025
|
||||||
Stockholders' Equity
|
13,984
|
14,237
|
||||||
Total Liabilities and Stockholders' Equity
|
$
|
16,547
|
$
|
17,262
|
For the period ended June 30, 2015 (000's, except shares and per share amounts)
|
Three months
|
Six months
|
||||||
Net loss before income taxes
|
$
|
(190
|
)
|
$
|
(368
|
)
|
||
Add: Interest expense
|
4
|
9
|
||||||
Add: Depreciation and amortization
|
207
|
435
|
||||||
Add: Non-cash stock compensation
|
174
|
187
|
||||||
Adjusted EBITDA
|
$
|
195
|
$
|
263
|
||||
Weighted average number of shares used in basic and diluted EPS calculation
|
2,594,743
|
2,594,764
|
||||||
Adjusted EBITDA per share
|
$
|
0.08
|
$
|
0.10
|
For the period ended June 30, 2014 (000's, except shares and per share amounts)
|
Three months
|
Six months
|
||||||
Net loss before income taxes
|
$
|
(1,269
|
)
|
$
|
(2,078
|
)
|
||
Add: Interest expense
|
8
|
16
|
||||||
Add: Depreciation and amortization
|
238
|
473
|
||||||
Add: Non-cash stock compensation
|
96
|
186
|
||||||
Add: One-time restructuring expense
|
397
|
--
|
||||||
Adjusted EBITDA loss
|
$
|
(530
|
)
|
$
|
(1,403
|
)
|
||
Weighted average number of shares used in basic and diluted EPS calculation
|
2,594,743
|
2,594,764
|
||||||
Adjusted EBITDA loss per share
|
$
|
(0.21
|
)
|
$
|
(0.54
|
)
|
1 Year LGL Chart |
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