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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.
The LGL Group, Inc. (LGL) reported Q2 2022 revenue of $7.4 million, an 8% increase from the previous year. For the first half of 2022, revenue rose 15.8% to $15.5 million. However, the company faced a diluted net loss of $0.34 per share, contrasting with zero losses last year. The backlog reached $43.4 million, up 45.6% since Q4 2021. Additionally, the strategic spin-off of MtronPTI was approved, enabling clearer performance evaluations for both entities. The company holds $41.5 million in cash and marketable securities, with adjusted EBITDA of $1.3 million, an improvement from the prior year.
The LGL Group, Inc. announced the spin-off of its Mtron business, with a record date set for August 12, 2022 and a distribution date of August 19, 2022.
Each LGL shareholder will receive one share of Mtron common stock for each share of LGL held. The separation is intended to be tax-free for LGL shareholders. Trading for Mtron is expected to begin on a ‘when issued’ basis on August 11, 2022, with regular trading starting on August 22, 2022. This strategic move aims to allow both LGL and Mtron to focus on their core operations.
The LGL Group, Inc. (LGL) reported a 24.1% increase in revenue for Q1 2022, totaling $8.1 million compared to $6.5 million in Q1 2021. The diluted net income rose to $0.03 per share from $0.01. The backlog stood at $37.0 million, a 24% increase from the previous quarter. Adjusted EBITDA also improved significantly to $715,000, up from $197,000 a year earlier. The company is preparing for a strategic spin-off of MtronPTI on June 21, 2022, aimed at enhancing shareholder value. Despite positive results, management remains cautious due to economic challenges.
The LGL Group, Inc. (LGL) announced its conference call to discuss 2021 financial results scheduled for March 29, 2022, at 10:00 am EDT. The results will be filed with the SEC on March 28, 2022, before market opening, and available on the company’s website. LGL's two main subsidiaries, MtronPTI and PTF, focus on designing, manufacturing, and marketing electronic components for signal control and timing applications.
The LGL Group, Inc. pre-announces its Q4 2021 financial results with expected revenues around
The LGL Group, Inc. reported financial results for Q3 and YTD 2021, revealing a revenue decrease to $7.5 million from $8.1 million in Q3 2020, and $20.9 million for the nine months compared to $23.7 million the prior year. A backlog improvement to $21.8 million was noted. Net income soared to $31.8 million, largely due to a $40.4 million gain from SPAC investments. Meanwhile, diluted EPS rose to $5.97. Strategic plans include a spin-off of the MTronPTI subsidiary to enhance shareholder value.
The LGL Group, Inc. (LGL) has announced its Board of Directors approved a spin-off of its subsidiary, MTronPTI, which will be presented for shareholder approval. In connection with its SPAC investment, LGL distributed 2,843,935 shares of IronNet (IRNT), with 1,543,935 shares free for sale. The company also announced the resignation of Robert LaPenta Jr. from its board, effective September 27, 2021. LGL's CEO highlighted the potential profitability of the SPAC investment, stating it will transition to mark-to-market accounting for shareholders.
The LGL Group has authorized management to explore a potential spin-off of its MTronPTI business into a separate public company. The move aims to enhance profitability and shareholder value by allowing both entities to tailor their strategies independently. The spin-off would be structured as a tax-free, pro-rata distribution to LGL shareholders. Historically, LGL has successfully spun off multiple businesses, and MTronPTI has the potential to significantly benefit from independent operations. Completion of the spin-off is subject to board approval and is not expected before Q4 2021.
The LGL Group, Inc. reported a 24.2% decline in Q1 2021 revenues to $6.5 million from $8.6 million in Q1 2020. An operating loss of $60,000 contrasted sharply with a profit of $0.7 million last year. Diluted earnings per share fell to $0.01 compared to $0.04 in the same period. Despite these challenges, backlog increased to $20.4 million. The Company maintains a strong cash position of $24.6 million, and it has made a strategic investment in LGL Systems Acquisition Corp., which is expected to enhance shareholder value.
The LGL Group reported financial results for the year ending December 31, 2020, showing revenues of $31.2 million, a decline from $31.9 million in 2019. Despite a decreased operating income of $1.4 million compared to $3.4 million the previous year, the company’s balance sheet improved with cash and marketable securities rising to $24.1 million. A warrant dividend was declared for shareholders, and Mike Ferrantino was appointed as the new President and CEO, effective April 1, 2021. The company faces challenges due to a downturn in the avionics market and COVID-related disruptions, impacting overall margins.
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