10-K Filing

LGL GROUP INC CIK: 61004 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0000061004-16-000057`
Period End Date	20151231
Filing Date	20160329
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	lgl-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 27 Cash Flow Statement 49 Stockholders Equity 19 Comprehensive Income 10

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents (Note A)	`CashAndCashEquivalentsAtCarryingValue`	$7.18M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$34.00K	USD	Point-in-time
Cash and cash equivalents (Note A)	`CashAndCashEquivalentsAtCarryingValue`	$5.55M	USD	Point-in-time
Cash and cash equivalents (Note A)	`CashAndCashEquivalentsAtCarryingValue`	$5.19M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$43.00K	USD	Point-in-time
Accounts receivable, less allowances of $34 and $43, respectively (Note A)	`AccountsReceivableNetCurrent`	$2.61M	USD	Point-in-time
Accounts receivable, less allowances of $34 and $43, respectively (Note A)	`AccountsReceivableNetCurrent`	$3.27M	USD	Point-in-time
Inventories, net (Notes A and B)	`InventoryNet`	$4.20M	USD	Point-in-time
Inventories, net (Notes A and B)	`InventoryNet`	$3.55M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$278.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$247.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$12.93M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$11.95M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.70M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.75M	shares	Point-in-time
Land	`Land`	$633.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.67M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.62M	shares	Point-in-time
Land	`Land`	$633.00K	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$3.94M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	79,664.00	shares	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$3.92M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	79,716.00	shares	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$16.63M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$16.31M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$20.87M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$21.20M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$18.04M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$17.32M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$3.55M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$3.17M	USD	Point-in-time
Intangible assets, net (Note A)	`IntangibleAssetsNetIncludingGoodwill`	$475.00K	USD	Point-in-time
Intangible assets, net (Note A)	`IntangibleAssetsNetIncludingGoodwill`	$528.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$211.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$253.00K	USD	Point-in-time
Total Assets	`Assets`	$17.26M	USD	Point-in-time
Total Assets	`Assets`	$15.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$987.00K	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$681.00K	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$769.00K	USD	Point-in-time
Accrued warranty expense	`ProductWarrantyAccrualClassifiedCurrent`	$126.00K	USD	Point-in-time
Accrued warranty expense	`ProductWarrantyAccrualClassifiedCurrent`	$242.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$383.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$194.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.08M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.02M	USD	Point-in-time
Common stock, $0.01 par value - 10,000,000 shares authorized; 2,745,098 shares issued and 2,665,434 shares outstanding at December 31, 2015, and 2,696,201 shares issued and 2,616,485 shares outstanding at December 31, 2014	`CommonStockValue`	$27.00K	USD	Point-in-time
Common stock, $0.01 par value - 10,000,000 shares authorized; 2,745,098 shares issued and 2,665,434 shares outstanding at December 31, 2015, and 2,696,201 shares issued and 2,616,485 shares outstanding at December 31, 2014	`CommonStockValue`	$27.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$29.11M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$28.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.16M	USD	Point-in-time
Treasury stock, 79,664 and 79,716 shares held in treasury at cost at December 31, 2015 and 2014, respectively	`TreasuryStockValue`	$572.00K	USD	Point-in-time
Treasury stock, 79,664 and 79,716 shares held in treasury at cost at December 31, 2015 and 2014, respectively	`TreasuryStockValue`	$572.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$44.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$40.00K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$14.24M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$13.73M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$16.75M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$17.26M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$15.80M	USD	Point-in-time

Income Statement 27 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`SalesRevenueGoodsNet`	$23.01M	USD	Annual
REVENUES	`SalesRevenueGoodsNet`	$20.71M	USD	Annual
Manufacturing cost of sales	`ManufacturingCosts`	$16.68M	USD	Annual
Manufacturing cost of sales	`ManufacturingCosts`	$13.86M	USD	Annual
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$7.64M	USD	Annual
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$8.69M	USD	Annual
Restructuring charges	`RestructuringCharges`	-	USD	Annual
Restructuring charges	`RestructuringCharges`	$465.00K	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-788.00K	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-2.83M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-26.00K	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-32.00K	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$117.00K	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$26.00K	USD	Annual
Total Other Income	`NonoperatingIncomeExpense`	$85.00K	USD	Annual
Total Other Income	`NonoperatingIncomeExpense`	-	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-703.00K	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.83M	USD	Annual
Income tax (provision) benefit (Note E)	`IncomeTaxExpenseBenefit`	$8.00K	USD	Annual
Income tax (provision) benefit (Note E)	`IncomeTaxExpenseBenefit`	$-4.00K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-2.83M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-711.00K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-2.83M	USD	Annual
Weighted average number of shares used in basic and diluted net income (loss) per common share calculation (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.60M	shares	Annual
Weighted average number of shares used in basic and diluted net income (loss) per common share calculation (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.64M	shares	Annual
BASIC AND DILUTED NET (LOSS) INCOME PER COMMON SHARE (Note A)	`EarningsPerShareBasicAndDiluted`	$-1.09	USD	Annual
BASIC AND DILUTED NET (LOSS) INCOME PER COMMON SHARE (Note A)	`EarningsPerShareBasicAndDiluted`	$-0.27	USD	Annual

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.83M	USD	Annual
Net loss	`NetIncomeLoss`	$-711.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.83M	USD	Annual
Depreciation	`Depreciation`	$804.00K	USD	Annual
Depreciation	`Depreciation`	$821.00K	USD	Annual
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$101.00K	USD	Annual
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$66.00K	USD	Annual
Gain on disposal of assets	`ImpairmentOfPropertyPlantAndEquipment`	$-67.00K	USD	Annual
Gain on disposal of assets	`ImpairmentOfPropertyPlantAndEquipment`	-	USD	Annual
Impairment of note receivable	`WriteDownOfNoteReceivable`	-	USD	Annual
Impairment of note receivable	`WriteDownOfNoteReceivable`	$43.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$265.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$308.00K	USD	Annual
Decrease (increase) in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-29.00K	USD	Annual
Decrease (increase) in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$660.00K	USD	Annual
Decrease in inventories, net	`IncreaseDecreaseInInventories`	$523.00K	USD	Annual
Decrease in inventories, net	`IncreaseDecreaseInInventories`	$625.00K	USD	Annual
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$13.00K	USD	Annual
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$104.00K	USD	Annual
Decrease in trade accounts payable, accrued compensation and commissions expense, accrued warranty expense and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-302.00K	USD	Annual
Decrease in trade accounts payable, accrued compensation and commissions expense, accrued warranty expense and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.01M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$689.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.30M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$263.00K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$422.00K	USD	Annual
Asset acquisition	`PaymentsToAcquireOtherProductiveAssets`	$-748.00K	USD	Annual
Asset acquisition	`PaymentsToAcquireOtherProductiveAssets`	-	USD	Annual
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$94.00K	USD	Annual
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-328.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.01M	USD	Annual
Net repayments on note payable to bank	`ProceedsFromNotesPayable`	-	USD	Annual
Net repayments on note payable to bank	`ProceedsFromNotesPayable`	$-1.18M	USD	Annual
Restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	-	USD	Annual
Restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$1.50M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$319.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.99M	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$361.00K	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.18M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.55M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.19M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.18M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.55M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.19M	USD	Point-in-time
Cash paid for interest	`IncomeTaxesPaid`	$21.00K	USD	Annual
Cash paid for interest	`IncomeTaxesPaid`	$32.00K	USD	Annual
Cash paid for income taxes	`InterestPaid`	-	USD	Annual
Cash paid for income taxes	`InterestPaid`	$30.00K	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$14.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.73M	USD	Point-in-time
Balance	`StockholdersEquity`	$16.75M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.67M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.62M	shares	Point-in-time
Net loss for period	`NetIncomeLoss`	$-2.83M	USD	Annual
Net loss for period	`NetIncomeLoss`	$-711.00K	USD	Annual
Net loss for period	`NetIncomeLoss`	$-2.83M	USD	Annual
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-4.00K	USD	Annual
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-1.00K	USD	Annual
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-1.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$308.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$265.00K	USD	Annual
Warrant dividend issuance costs	`WarrantDividendIssuanceCosts`	$-60.00K	USD	Annual
Balance	`StockholdersEquity`	$14.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.73M	USD	Point-in-time
Balance	`StockholdersEquity`	$16.75M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.67M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.62M	shares	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-2.83M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-711.00K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-2.83M	USD	Annual
Unrealized loss on available-for-sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.00K	USD	Annual
Unrealized loss on available-for-sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-4.00K	USD	Annual
TOTAL OTHER COMPREHENSIVE LOSS	`OtherComprehensiveIncomeLossNetOfTax`	$-4.00K	USD	Annual
TOTAL OTHER COMPREHENSIVE LOSS	`OtherComprehensiveIncomeLossNetOfTax`	$-1.00K	USD	Annual
TOTAL OTHER COMPREHENSIVE LOSS	`OtherComprehensiveIncomeLossNetOfTax`	$-1.00K	USD	Annual
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-715.00K	USD	Annual
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-2.83M	USD	Annual

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