10-Q Filing

LGL GROUP INC CIK: 61004 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0000061004-16-000063`
Period End Date	20160331
Filing Date	20160513
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	lgl-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 24 Cash Flow Statement 38 Stockholders Equity 13 Comprehensive Income 8

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$34.00K	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$34.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.58M	USD	Point-in-time
Accounts receivable, less allowance of $34 at March 31, 2016 and December 31, 2015	`AccountsReceivableNetCurrent`	$2.54M	USD	Point-in-time
Accounts receivable, less allowance of $34 at March 31, 2016 and December 31, 2015	`AccountsReceivableNetCurrent`	$2.61M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net (Note C)	`InventoryNet`	$3.55M	USD	Point-in-time
Inventories, net (Note C)	`InventoryNet`	$3.55M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$359.00K	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$247.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$12.03M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.75M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.75M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$11.95M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.67M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.67M	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	79,664.00	shares	Point-in-time
Land	`Land`	$633.00K	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	79,664.00	shares	Point-in-time
Land	`Land`	$633.00K	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$3.94M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$3.94M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$16.68M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$16.63M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$21.20M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$21.25M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$18.04M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$18.23M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$3.02M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$3.17M	USD	Point-in-time
Intangible assets, net (Note D)	`IntangibleAssetsNetIncludingGoodwill`	$461.00K	USD	Point-in-time
Intangible assets, net (Note D)	`IntangibleAssetsNetIncludingGoodwill`	$475.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$208.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$211.00K	USD	Point-in-time
Total Assets	`Assets`	$15.72M	USD	Point-in-time
Total Assets	`Assets`	$15.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$987.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.10M	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$769.00K	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$721.00K	USD	Point-in-time
Accrued warranty expense	`ProductWarrantyAccrualClassifiedCurrent`	$105.00K	USD	Point-in-time
Accrued warranty expense	`ProductWarrantyAccrualClassifiedCurrent`	$126.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$209.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$194.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.14M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.08M	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 outanding at March 31, 2016 and December 31, 2015	`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 outanding at March 31, 2016 and December 31, 2015	`CommonStockValue`	$27.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$29.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$29.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.87M	USD	Point-in-time
Treasury stock: 79,664 shares held in treasury at cost at March 31, 2016 and December 31, 2015	`TreasuryStockValue`	$572.00K	USD	Point-in-time
Treasury stock: 79,664 shares held in treasury at cost at March 31, 2016 and December 31, 2015	`TreasuryStockValue`	$572.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$40.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$37.00K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$13.58M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$13.73M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$15.80M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$15.72M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`SalesRevenueGoodsNet`	$4.76M	USD	1 Quarter
REVENUES	`SalesRevenueGoodsNet`	$5.40M	USD	1 Quarter
Manufacturing cost of sales	`ManufacturingCosts`	$3.26M	USD	1 Quarter
Manufacturing cost of sales	`ManufacturingCosts`	$3.60M	USD	1 Quarter
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$1.96M	USD	1 Quarter
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$1.66M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-162.00K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-161.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-5.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-6.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$42.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-12.00K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$36.00K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-17.00K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-126.00K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-178.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-178.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-126.00K	USD	1 Quarter
Weighted average number of shares used in basic and diluted net income (loss) per common share calculation (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.62M	shares	1 Quarter
Weighted average number of shares used in basic and diluted net income (loss) per common share calculation (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.67M	shares	1 Quarter
BASIC AND DILUTED NET LOSS PER COMMON SHARE	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
BASIC AND DILUTED NET LOSS PER COMMON SHARE	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-178.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-126.00K	USD	1 Quarter
Depreciation	`Depreciation`	$202.00K	USD	1 Quarter
Depreciation	`Depreciation`	$190.00K	USD	1 Quarter
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$26.00K	USD	1 Quarter
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$14.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$13.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$-16.00K	USD	1 Quarter
Gain on disposal of assets	`GainLossOnDispositionOfAssets1`	$-43.00K	USD	1 Quarter
Gain on disposal of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-62.00K	USD	1 Quarter
Decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-114.00K	USD	1 Quarter
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$4.00K	USD	1 Quarter
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$-168.00K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$69.00K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$36.00K	USD	1 Quarter
Increase in trade accounts payable, accrued compensation and commissions expense, accrued warranty expense and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-197.00K	USD	1 Quarter
Increase in trade accounts payable, accrued compensation and commissions expense, accrued warranty expense and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$63.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$71.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$112.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$256.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$48.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-256.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-48.00K	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-144.00K	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$23.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.05M	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 beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.05M	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 and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.58M	USD	Point-in-time
Cash paid for interest	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for interest	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`InterestPaid`	$5.00K	USD	1 Quarter
Cash paid for income taxes	`InterestPaid`	$20.00K	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$13.58M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.73M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.67M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.67M	shares	Point-in-time
Net loss	`NetIncomeLoss`	$-178.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-126.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-3.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$13.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$-16.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$13.58M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.73M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.67M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.67M	shares	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
NET LOSS	`NetIncomeLoss`	$-178.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-126.00K	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities, net of taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-3.00K	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities, net of taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$13.00K	USD	1 Quarter
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME	`OtherComprehensiveIncomeLossNetOfTax`	$-3.00K	USD	1 Quarter
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME	`OtherComprehensiveIncomeLossNetOfTax`	$13.00K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-129.00K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-165.00K	USD	1 Quarter

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