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LGL Group (LGL) provides precision engineering solutions and strategic investments across critical industries. This news hub offers investors and industry professionals centralized access to official updates and market-relevant developments.
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The LGL Group, Inc. has successfully completed its spin-off of M-tron Industries, Inc. on October 7, 2022, distributing one-half share of Mtron for each LGL share held. Post-spin-off, MPTI has 2.67 million shares and LGL has 5.33 million shares outstanding. LGL's warrants, originally priced at $12.50, will see an adjustment following the spin-off. No new Mtron warrants were issued, and LGL retains no ownership in Mtron. The spin-off allows both companies to pursue distinct business strategies, enhancing shareholder evaluation.
The LGL Group, Inc. has announced that the spin-off of M-tron Industries, Inc. will be completed on October 7, 2022. The record date for stockholders is set for September 30, 2022, with stockholders receiving one-half share of Mtron common stock for each share of LGL held. The SEC approved the registration statement for Mtron on September 7, 2022. The spin-off aims to be tax-free for LGL shareholders. Trading of Mtron stock will commence on October 7, 2022, under the symbol “MPTI”.
The LGL Group, Inc. (AMEX:LGL) will host a webinar on September 8, 2022, at 9:00 AM Eastern Time to outline its operations. Following the webinar registration, participants will receive a confirmation email for access. The company is planning a spin-off of its MtronPTI division, approved on August 3, 2022, allowing shareholders to receive one share of MtronPTI for each share of LGL held. This separation aims to enhance shareholder value and operational clarity, allowing each entity to pursue its strategy independently.
The LGL Group, Inc. (NYSE American: LGL) has announced the rescheduling of the spin-off of M-Tron Industries, Inc. (MtronPTI) to September 30, 2022, as the new record date, with the anticipated distribution date set for October 7, 2022. The update will be reflected in MtronPTI's Registration Statement on Form 10 filed with the SEC. Following the spin-off, MtronPTI is expected to trade under the ticker 'MPTI', while LGL will continue trading as 'LGL'.
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.
