10-K Filing

LGL GROUP INC CIK: 61004 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0000061004-13-000014`
Period End Date	20121231
Filing Date	20130401
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	lgl-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 24 Cash Flow Statement 58 Stockholders Equity 20 Comprehensive Income 10

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$79.00K	USD	Point-in-time
Cash and cash equivalents (Note A)	`CashAndCashEquivalentsAtCarryingValue`	$4.15M	USD	Point-in-time
Cash and cash equivalents (Note A)	`CashAndCashEquivalentsAtCarryingValue`	$13.71M	USD	Point-in-time
Cash and cash equivalents (Note A)	`CashAndCashEquivalentsAtCarryingValue`	$8.62M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$131.00K	USD	Point-in-time
Restricted Cash (Note C)	`RestrictedCashAndCashEquivalentsCurrent`	$1.50M	USD	Point-in-time
Restricted Cash (Note C)	`RestrictedCashAndCashEquivalentsCurrent`	-	USD	Point-in-time
Accounts receivable, less allowances of $79 and $131, respectively (Note A)	`AccountsReceivableNetCurrent`	$4.35M	USD	Point-in-time
Accounts receivable, less allowances of $79 and $131, respectively (Note A)	`AccountsReceivableNetCurrent`	$4.31M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net (Notes A and B)	`InventoryNet`	$5.68M	USD	Point-in-time
Inventories, net (Notes A and B)	`InventoryNet`	$5.35M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Deferred income taxes (Notes A and F)	`DeferredTaxAssetsNetCurrent`	$960.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Deferred income taxes (Notes A and F)	`DeferredTaxAssetsNetCurrent`	$1.11M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$665.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.65M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$292.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.63M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$24.95M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.59M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.60M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$21.60M	USD	Point-in-time
Land	`Land`	$640.00K	USD	Point-in-time
Land	`Land`	$640.00K	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$3.79M	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`	$15.65M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$20.08M	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`	$15.37M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$4.53M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$4.71M	USD	Point-in-time
Deferred income taxes, net (Notes A and F)	`DeferredTaxAssetsNetNoncurrent`	$2.38M	USD	Point-in-time
Deferred income taxes, net (Notes A and F)	`DeferredTaxAssetsNetNoncurrent`	$2.81M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$560.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$475.00K	USD	Point-in-time
Total Assets	`Assets`	$32.42M	USD	Point-in-time
Total Assets	`Assets`	$29.59M	USD	Point-in-time
Note payable to bank (Note C)	`NotesPayableToBankCurrent`	$1.25M	USD	Point-in-time
Note payable to bank (Note C)	`NotesPayableToBankCurrent`	$3.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.75M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.45M	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$1.10M	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$1.01M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$209.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$545.00K	USD	Point-in-time
Current maturities of long-term debt (Note C)	`LongTermDebtCurrent`	$400.00K	USD	Point-in-time
Current maturities of long-term debt (Note C)	`LongTermDebtCurrent`	$58.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.83M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.98M	USD	Point-in-time
Long-term debt, net of current portion (Note C)	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Long-term debt, net of current portion (Note C)	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.83M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.98M	USD	Point-in-time
Common stock, $0.01 par value - 10,000,000 shares authorized; 2,648,059 shares issued and 2,597,605 shares outstanding at December 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; 2,648,059 shares issued and 2,597,605 shares outstanding at December 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`	$28.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.12M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.80M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$405.00K	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$315.00K	USD	Point-in-time
Accumulated other comprehensive income (Note G)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$28.00K	USD	Point-in-time
Accumulated other comprehensive income (Note G)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$25.00K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$18.70M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$25.59M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$24.61M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$29.59M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$32.42M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`SalesRevenueGoodsNet`	$35.68M	USD	Annual
REVENUES	`SalesRevenueGoodsNet`	$29.71M	USD	Annual
Manufacturing cost of sales	`ManufacturingCosts`	$21.97M	USD	Annual
Manufacturing cost of sales	`ManufacturingCosts`	$24.92M	USD	Annual
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$10.09M	USD	Annual
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$9.52M	USD	Annual
OPERATING (LOSS) INCOME	`OperatingIncomeLoss`	$-1.78M	USD	Annual
OPERATING (LOSS) INCOME	`OperatingIncomeLoss`	$674.00K	USD	Annual
Interest expense, net	`InterestExpense`	$109.00K	USD	Annual
Interest expense, net	`InterestExpense`	$89.00K	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$2.00K	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$27.00K	USD	Annual
Total Other Expense	`NonoperatingIncomeExpense`	$-62.00K	USD	Annual
Total Other Expense	`NonoperatingIncomeExpense`	$-107.00K	USD	Annual
(LOSS) INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.84M	USD	Annual
(LOSS) INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$567.00K	USD	Annual
Income tax benefit (provision) (Note F)	`IncomeTaxExpenseBenefit`	$-524.00K	USD	Annual
Income tax benefit (provision) (Note F)	`IncomeTaxExpenseBenefit`	$185.00K	USD	Annual
NET(LOSS) INCOME	`NetIncomeLoss`	$382.00K	USD	Annual
NET(LOSS) INCOME	`NetIncomeLoss`	$-1.32M	USD	Annual
Weighted average number of shares used in basic and diluted net income (loss) per common share calculation (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.59M	shares	Annual
Weighted average number of shares used in basic and diluted net income (loss) per common share calculation (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.57M	shares	Annual
BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.51	USD	Annual
BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.15	USD	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$382.00K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-1.32M	USD	Annual
Depreciation	`Depreciation`	$729.00K	USD	Annual
Depreciation	`Depreciation`	$699.00K	USD	Annual
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$144.00K	USD	Annual
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$76.00K	USD	Annual
Write-down of note receivable	`WriteDownOfNoteReceivable`	$40.00K	USD	Annual
Write-down of note receivable	`WriteDownOfNoteReceivable`	-	USD	Annual
Gain on disposal of Lynch property	`GainLossOnDispositionOfProperty`	-	USD	Annual
Gain on disposal of Lynch property	`GainLossOnDispositionOfProperty`	$-6.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$363.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$428.00K	USD	Annual
Deferred income tax (benefit) provision	`DeferredIncomeTaxExpenseBenefit`	$-576.00K	USD	Annual
Deferred income tax (benefit) provision	`DeferredIncomeTaxExpenseBenefit`	$5.00K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.47M	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-41.00K	USD	Annual
Decrease in inventories, net	`IncreaseDecreaseInInventories`	$271.00K	USD	Annual
Decrease in inventories, net	`IncreaseDecreaseInInventories`	$327.00K	USD	Annual
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-115.00K	USD	Annual
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-402.00K	USD	Annual
Increase (decrease) in trade accounts payable, accrued liabilities and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-895.00K	USD	Annual
Increase (decrease) in trade accounts payable, accrued liabilities and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$270.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-469.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.32M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$906.00K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.69M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.69M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-906.00K	USD	Annual
Net borrowings (repayments) on note payable to bank	`RepaymentsOfNotesPayable`	$-3.03M	USD	Annual
Net borrowings (repayments) on note payable to bank	`RepaymentsOfNotesPayable`	$1.78M	USD	Annual
Increase in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$-1.50M	USD	Annual
Increase in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	-	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$6.56M	USD	Annual
Payment of expenses related to the public offering	`PaymentsOfStockIssuanceCosts`	$69.00K	USD	Annual
Payment of expenses related to the public offering	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$548.00K	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$817.00K	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$342.00K	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$315.00K	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$90.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.71M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.94M	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.08M	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.56M	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.15M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.71M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.62M	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`	$13.71M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.62M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$157.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$433.00K	USD	Annual
Cash paid for interest	`InterestPaid`	$91.00K	USD	Annual
Cash paid for interest	`InterestPaid`	$95.00K	USD	Annual
Note receivable obtained in sale of property	`NoteReceivableObtainedInSaleOfProperty`	-	USD	Annual
Note receivable obtained in sale of property	`NoteReceivableObtainedInSaleOfProperty`	$299.00K	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$18.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$25.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$24.61M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.59M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.60M	shares	Point-in-time
Net loss for period	`NetIncomeLoss`	$382.00K	USD	Annual
Net loss for period	`NetIncomeLoss`	$-1.32M	USD	Annual
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$3.00K	USD	Annual
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$63.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$363.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$428.00K	USD	Annual
Issuance of new shares for capital offering	`StockIssuedDuringPeriodValueNewIssues`	$6.40M	USD	Annual
Issuance of new shares for capital offering (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	350,000.00	shares	Point-in-time
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$315.00K	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$90.00K	USD	Annual
Balance	`StockholdersEquity`	$18.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$25.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$24.61M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.59M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.60M	shares	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
NET (LOSS) INCOME	`NetIncomeLoss`	$382.00K	USD	Annual
NET (LOSS) INCOME	`NetIncomeLoss`	$-1.32M	USD	Annual
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$3.00K	USD	Annual
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$5.00K	USD	Annual
Deferred gain on swap liability on hedge contracts	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$58.00K	USD	Annual
Deferred gain on swap liability on hedge contracts	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	-	USD	Annual
Total Other Comprehensive Income	`TotalOtherComprehensiveIncome`	$63.00K	USD	Annual
Total Other Comprehensive Income	`TotalOtherComprehensiveIncome`	$3.00K	USD	Annual
COMPREHENSIVE (LOSS) INCOME	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-1.32M	USD	Annual
COMPREHENSIVE (LOSS) INCOME	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$445.00K	USD	Annual

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