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The LGL Group, Inc. (NYSE: LGL) is a diversified holding company that excels in the design, manufacture, and marketing of frequency and spectrum control products. With operations spanning the United States and international markets, LGL Group operates through two primary segments: Electronic Components and Electronic Instruments.
Within the Electronic Components segment, LGL Group offers a wide range of products including Xtals, clock oscillators, VCXO, TCXO, OCXO, and DOCXO devices. This segment also provides comprehensive radio frequency solutions such as microwave and millimeter wave filters, diplexers, and solid-state power amplifiers. These products are essential for various applications in telecommunications infrastructure, defense, aerospace, satellite communications, and medical devices.
The Electronic Instruments segment, under the brand Precise Time and Frequency, LLC (PTF), focuses on high-performance Frequency and Time reference standards. These products play a crucial role in applications such as satellite communication, network synchronization, time transfer systems, and electricity distribution. PTF operates from a state-of-the-art design and manufacturing facility in Wakefield, Massachusetts.
LGL Group also has a Merchant Investment segment, which includes various investment vehicles aimed at capital growth. This segment leverages LGL's financial resources to explore opportunities across diverse industries, including aerospace, defense, consumer products, and industrial companies.
Financially, LGL Group has showcased robust performance. In Q4 2023, the company reported an increase in total revenues to $995,000 from $578,000 in Q4 2022. The fiscal year 2023 saw a significant increase in total revenues to $3,678,000, indicating strong recovery and growth post-separation of M-tron Industries, Inc.
Recent achievements include participating in The Microcap Conference, enhancing visibility and investor relations. The company announced improved order backlogs and strategic re-deployment of capital, emphasizing a proactive approach to growth and value creation for shareholders.
LGL Group's business strategy focuses on continuous growth through expanding operations and strategic investments. Despite market challenges, the company's diversified portfolio and innovative product offerings position it well for future success. For more information, visit www.lglgroup.com.
LGL Group reported Q3 2024 financial results with total revenues increasing to $1,179,000, up from $978,000 in Q3 2023. Despite revenue growth, net income per diluted share decreased to $0.01 from $0.02 year-over-year. For the nine months ended September 30, 2024, revenues rose to $3,135,000 from $2,683,000, with net income per diluted share increasing to $0.04 from $0.03. The company's gross margin declined to 43.4% in Q3 2024 from 55.5% in Q3 2023. As of September 30, 2024, the company held $41.6 million in cash and marketable securities, with a backlog of $505,000.
The LGL Group, Inc. (NYSE American: LGL) has announced its participation in the upcoming Sidoti September Virtual Investor Conference on September 18-19, 2024. Tim Foufas, Co-Chief Executive Officer of LGL Group, will lead the company's presentation and host one-on-one meetings with investors.
The presentation is scheduled for September 18, 2024, at 9:15 am Eastern Time and can be accessed live via a provided Zoom link. Interested parties can register for free at www.sidoti.com/events, with no Sidoti client status required. This event offers a platform for LGL Group to showcase its business to potential investors and engage in direct discussions during the virtual one-on-one sessions.
The LGL Group, Inc. (NYSE American: LGL) reported improved financial results for Q2 2024. Total revenues increased by $347,000 to $1,068,000, up from $721,000 in Q2 2023. Income from continuing operations before taxes rose to $213,000, compared to a loss of $132,000 in the same period last year. Net income per diluted share improved to $0.02, up from a loss of $0.02 in Q2 2023.
For the first half of 2024, total revenues reached $1,956,000, with net income per diluted share at $0.03. The company's gross margin improved to 59.7% in Q2 2024, up from 48.4% in Q2 2023. As of June 30, 2024, LGL Group had $41,092,000 in cash, cash equivalents, and marketable securities. The order backlog increased to $737,000, showing significant growth from both year-end 2023 and June 30, 2023 levels.
The LGL Group (NYSE American: LGL) released its financial results for Q1 2024, ending March 31, 2024. During this period, total revenues fell by $96,000 to $888,000 compared to Q1 2023. Income from continuing operations before taxes decreased by $193,000 to $57,000. Net income per diluted share dropped by $0.03 to $0.00. Cash and marketable securities stood at $40.89 million.
Tim Foufas, Co-CEO, noted a revenue decline in the Electronics Instruments segment but pointed out an improved order backlog. The order backlog rose to $341,000, an increase of $198,000 from December 31, 2023.
Gross margin fell to 48.0% from 56.5% in Q1 2023, attributed to a lower margin product mix and higher labor costs. Working capital was $41.17 million, and investments in U.S. Treasury money market funds provided higher net investment income.
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