10-Q/A Filing

LGL GROUP INC CIK: 61004 Q1 2012

Filing Information

Form Type	10-Q/A
Accession Number	`0000061004-12-000029`
Period End Date	20120331
Filing Date	20120516
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	lgl-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 30 Cash Flow Statement 48 Stockholders Equity 12 Comprehensive Income 8

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.05M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$131.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.39M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$116.00K	USD	Point-in-time
Accounts receivable, less allowances of $116 and $131, respectively	`AccountsReceivableNetCurrent`	$4.31M	USD	Point-in-time
Accounts receivable, less allowances of $116 and $131, respectively	`AccountsReceivableNetCurrent`	$3.81M	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.84M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.68M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$960.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$960.00K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	2.64M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$279.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	2.63M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$292.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$24.28M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$24.95M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	2.60M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	2.59M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	35,454.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	35,454.00	shares	Point-in-time
Land	`Land`	$640.00K	USD	Point-in-time
Land	`Land`	$640.00K	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$3.65M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$3.62M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$15.00M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$15.26M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$19.55M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$19.26M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$14.73M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$14.89M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$4.53M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$4.66M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetNoncurrent`	$2.38M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetNoncurrent`	$2.65M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$560.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$552.00K	USD	Point-in-time
Total Assets	`Assets`	$32.15M	USD	Point-in-time
Total Assets	`Assets`	$32.42M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankCurrent`	$3.03M	USD	Point-in-time
Note payable to bank	`NotesPayableToBankCurrent`	$2.96M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.75M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.39M	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$1.10M	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$1.10M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$291.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$545.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$400.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$316.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$7.05M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.83M	USD	Point-in-time
Total Liabilities	`Liabilities`	$7.05M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.83M	USD	Point-in-time
Common stock, $0.01 par value - 10,000,000 shares authorized; 2,635,320 shares issued and 2,599,866 shares outstanding at March 31, 2012, and 2,628,188 shares issued and 2,592,734 shares outstanding at December 31, 2011	`CommonStockValue`	$26.00K	USD	Point-in-time
Common stock, $0.01 par value - 10,000,000 shares authorized; 2,635,320 shares issued and 2,599,866 shares outstanding at March 31, 2012, and 2,628,188 shares issued and 2,592,734 shares outstanding at December 31, 2011	`CommonStockValue`	$26.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$27.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$27.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.39M	USD	Point-in-time
Treasury stock; 35,454 shares held in treasury at cost at March 31, 2012 and December 31, 2011	`TreasuryStockValue`	$315.00K	USD	Point-in-time
Treasury stock; 35,454 shares held in treasury at cost at March 31, 2012 and December 31, 2011	`TreasuryStockValue`	$315.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$25.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$28.00K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$25.59M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$25.09M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$32.15M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$32.42M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`SalesRevenueGoodsNet`	$7.17M	USD	1 Quarter
REVENUES	`SalesRevenueGoodsNet`	$9.02M	USD	1 Quarter
Manufacturing cost of sales	`ManufacturingCosts`	$6.08M	USD	1 Quarter
Manufacturing cost of sales	`ManufacturingCosts`	$5.58M	USD	1 Quarter
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$2.56M	USD	1 Quarter
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$2.40M	USD	1 Quarter
Total Cost and Expenses	`CostsAndExpenses`	$7.97M	USD	1 Quarter
Total Cost and Expenses	`CostsAndExpenses`	$8.64M	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$383.00K	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-801.00K	USD	1 Quarter
Interest (expense)	`InterestExpense`	$27.00K	USD	1 Quarter
Interest (expense)	`InterestExpense`	$12.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$9.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-31.00K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-3.00K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-58.00K	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$380.00K	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-859.00K	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	$-266.00K	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	$139.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-593.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$241.00K	USD	1 Quarter
Weighted average number of shares used in basic net income (loss) per common share (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.48M	shares	1 Quarter
Weighted average number of shares used in basic net income (loss) per common share (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.60M	shares	1 Quarter
Weighted average number of shares used in diluted net income (loss) per common share calculation (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.48M	shares	1 Quarter
Weighted average number of shares used in diluted net income (loss) per common share calculation (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.60M	shares	1 Quarter
BASIC NET INCOME (LOSS) PER COMMON SHARE (in dollars per share)	`EarningsPerShareBasic`	$-0.23	USD	1 Quarter
BASIC NET INCOME (LOSS) PER COMMON SHARE (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
DILUTED NET INCOME (LOSS) PER COMMON SHARE (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
DILUTED NET INCOME (LOSS) PER COMMON SHARE (in dollars per share)	`EarningsPerShareDiluted`	$-0.23	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-593.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$241.00K	USD	1 Quarter
Depreciation	`Depreciation`	$160.00K	USD	1 Quarter
Depreciation	`Depreciation`	$168.00K	USD	1 Quarter
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$36.00K	USD	1 Quarter
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$21.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$34.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$89.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$93.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-266.00K	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$981.00K	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$502.00K	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$-164.00K	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$-338.00K	USD	1 Quarter
(Increase) Decrease in trade accounts payable, accrued liabilities and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$382.00K	USD	1 Quarter
(Increase) Decrease in trade accounts payable, accrued liabilities and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-54.00K	USD	1 Quarter
Increase in other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-18.00K	USD	1 Quarter
Increase in other current assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$131.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.14M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$569.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$294.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-294.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-569.00K	USD	1 Quarter
Net repayments on note payable to bank	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Net repayments on note payable to bank	`RepaymentsOfNotesPayable`	$70.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$6.56M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Payment of expenses related to the public offering	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Payment of expenses related to the public offering	`PaymentsOfStockIssuanceCosts`	$158.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$73.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$84.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-154.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.33M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.91M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-317.00K	USD	1 Quarter
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.71M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.15M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.05M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.39M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.71M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.15M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.05M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.39M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$35.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$5.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$9.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$32.00K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$25.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$25.09M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.60M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.59M	shares	Point-in-time
Net loss for period	`NetIncomeLoss`	$-593.00K	USD	1 Quarter
Net loss for period	`NetIncomeLoss`	$241.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$3.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$89.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$25.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$25.09M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.60M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.59M	shares	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
NET INCOME (LOSS)	`NetIncomeLoss`	$-593.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$241.00K	USD	1 Quarter
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$18.00K	USD	1 Quarter
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$3.00K	USD	1 Quarter
Deferred gain on swap liability on hedge contracts	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$5.00K	USD	1 Quarter
Deferred gain on swap liability on hedge contracts	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-590.00K	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$264.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.