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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 | |
---|---|---|---|---|---|---|---|---|
-0.16 | -2.91% | 5.34 | 5.56 | 5.30 | 5.46 | 1,452 | 21:15:00 |
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 November 12, 2015.
|
November 12, 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 November 12, 2015.
|
·
|
Revenues of $4.8 million, a decrease of 14.1% compared to Q3 2014
|
·
|
Gross margin of 33.1%
|
·
|
Net loss of ($0.07) per share vs. ($0.19) per share in Q3 2014
|
·
|
Adjusted EBITDA of $0.1 million, a year-over-year improvement of $0.3 million
|
·
|
Backlog remains consistent at $8.8 million at 9/30/2015 vs. $8.9 million at 6/30/2015
|
Three Months Ended
September 30,
|
Nine Months Ended
September 30,
|
|||||||||||||||
2015
|
2014
|
2015
|
2014
|
|||||||||||||
REVENUES
|
$
|
4,796
|
$
|
5,581
|
$
|
15,671
|
$
|
17,562
|
||||||||
Cost and Expenses:
|
||||||||||||||||
Manufacturing cost of sales
|
3,209
|
3,849
|
10,497
|
12,869
|
||||||||||||
Engineering, selling and administrative
|
1,741
|
2,094
|
5,822
|
6,750
|
||||||||||||
Restructuring expense
|
—
|
47
|
—
|
444
|
||||||||||||
OPERATING LOSS
|
(154
|
)
|
(409
|
)
|
(648
|
)
|
(2,501
|
)
|
||||||||
Other Income (Expense):
|
||||||||||||||||
Interest expense, net
|
(16
|
)
|
(5
|
)
|
(25
|
)
|
(21
|
)
|
||||||||
Other (expense) income, net
|
(23
|
)
|
(78
|
)
|
112
|
(48
|
)
|
|||||||||
Total Other Income (Expense)
|
(39
|
)
|
(83
|
)
|
87
|
(69
|
)
|
|||||||||
LOSS BEFORE INCOME TAXES
|
(193
|
)
|
(492
|
)
|
(561
|
)
|
(2,570
|
)
|
||||||||
Income tax provision
|
(2
|
)
|
—
|
(13
|
)
|
—
|
||||||||||
NET LOSS
|
$
|
(195
|
)
|
$
|
(492
|
)
|
$
|
(574
|
)
|
$
|
(2,570
|
)
|
||||
Weighted average number of shares used in basic and diluted net loss per common share calculation
|
2,652,779
|
2,594,730
|
2,635,794
|
2,594,752
|
||||||||||||
BASIC AND DILUTED NET LOSS PER COMMON SHARE
|
$
|
(0.07
|
)
|
$
|
(0.19
|
)
|
$
|
(0.22
|
)
|
$
|
(0.99
|
)
|
September 30, 2015
|
December 31, 2014
|
|||||||
ASSETS
|
||||||||
Cash and cash equivalents
|
$
|
5,941
|
$
|
5,192
|
||||
Accounts receivable, less allowances of $38 and $43, respectively
|
2,201
|
3,266
|
||||||
Inventories, net
|
3,747
|
4,198
|
||||||
Prepaid expenses and other current assets
|
217
|
278
|
||||||
Total current assets
|
12,106
|
12,934
|
||||||
Property, plant and equipment, net
|
3,310
|
3,547
|
||||||
Intangible assets, net
|
488
|
528
|
||||||
Other assets, net
|
213
|
253
|
||||||
Total Assets
|
$
|
16,117
|
$
|
17,262
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Total Liabilities
|
2,318
|
3,025
|
||||||
Stockholders' Equity
|
13,799
|
14,237
|
||||||
Total Liabilities and Stockholders' Equity
|
$
|
16,117
|
$
|
17,262
|
For the period ended September 30, 2015 (000's, except shares and per share amounts)
|
Three months
|
Nine months
|
||||||
Net loss before income taxes
|
$
|
(193
|
)
|
$
|
(561
|
)
|
||
Add: Interest expense
|
16
|
25
|
||||||
Add: Depreciation and amortization
|
223
|
658
|
||||||
Add: Non-cash stock compensation
|
14
|
201
|
||||||
Add: Non-cash impairment of note receivable
|
43
|
43
|
||||||
Adjusted EBITDA
|
$
|
103
|
$
|
366
|
||||
Weighted average number of shares used in basic and diluted EPS calculation
|
2,652,779
|
2,635,794
|
||||||
Adjusted EBITDA per share
|
$
|
0.04
|
$
|
0.14
|
For the period ended September 30, 2014 (000's, except shares and per share amounts)
|
Three months
|
Nine months
|
||||||
Net loss before income taxes
|
$
|
(492
|
)
|
$
|
(2,570
|
)
|
||
Add: Interest expense
|
5
|
21
|
||||||
Add: Depreciation and amortization
|
231
|
704
|
||||||
Add: Non-cash stock compensation
|
27
|
213
|
||||||
Add: One-time restructuring expense
|
47
|
444
|
||||||
Adjusted EBITDA loss
|
$
|
(182
|
)
|
$
|
(1,188
|
)
|
||
Weighted average number of shares used in basic and diluted EPS calculation
|
2,594,730
|
2,594,752
|
||||||
Adjusted EBITDA loss per share
|
$
|
(0.07
|
)
|
$
|
(0.46
|
)
|
1 Year LGL Chart |
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