10-K Filing

LGL GROUP INC CIK: 61004 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0000061004-17-000008`
Period End Date	20161231
Filing Date	20170329
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	lgl-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 26 Cash Flow Statement 70 Stockholders Equity 18 Comprehensive Income 8

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$31.00K	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$34.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.19M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesEquitySecuritiesCurrent`	$2.77M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesEquitySecuritiesCurrent`	$56.00K	USD	Point-in-time
Accounts receivable, net of allowances of $31 and $34, respectively	`AccountsReceivableNetCurrent`	$3.50M	USD	Point-in-time
Accounts receivable, net of allowances of $31 and $34, respectively	`AccountsReceivableNetCurrent`	$2.61M	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.55M	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	`InventoryNet`	$3.64M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$200.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$191.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.76M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$12.89M	USD	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`	2.68M	shares	Point-in-time
Treasury stock, (in shares)	`TreasuryStockShares`	81,584.00	shares	Point-in-time
Land	`Land`	$633.00K	USD	Point-in-time
Treasury stock, (in shares)	`TreasuryStockShares`	79,664.00	shares	Point-in-time
Land	`Land`	$633.00K	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$3.97M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$3.94M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$16.85M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$16.63M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$21.45M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$21.20M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$18.74M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$18.04M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$2.71M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$3.17M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$214.00K	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	-	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$628.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$475.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$211.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$203.00K	USD	Point-in-time
Total Assets	`Assets`	$16.65M	USD	Point-in-time
Total Assets	`Assets`	$15.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.52M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$987.00K	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$942.00K	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$769.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$320.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$288.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.75M	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; 2,757,050 shares issued and 2,675,466 shares outstanding at December 31, 2016, and 2,745,098 shares issued and 2,665,434 shares outstanding at December 31, 2015	`CommonStockValue`	$27.00K	USD	Point-in-time
Common stock, $0.01 par value - 10,000,000 shares authorized; 2,757,050 shares issued and 2,675,466 shares outstanding at December 31, 2016, and 2,745,098 shares issued and 2,665,434 shares outstanding at December 31, 2015	`CommonStockValue`	$27.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$29.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$29.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.87M	USD	Point-in-time
Treasury stock, 81,584 and 79,664 shares held in treasury at cost at December 31, 2016 and 2015, respectively	`TreasuryStockValue`	$580.00K	USD	Point-in-time
Treasury stock, 81,584 and 79,664 shares held in treasury at cost at December 31, 2016 and 2015, respectively	`TreasuryStockValue`	$572.00K	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.00K	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$40.00K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$13.73M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$14.24M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$13.89M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$16.65M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$15.80M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`SalesRevenueGoodsNet`	$20.89M	USD	Annual
REVENUES	`SalesRevenueGoodsNet`	$20.71M	USD	Annual
Manufacturing cost of sales	`ManufacturingCosts`	$13.86M	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`	$7.19M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-788.00K	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-161.00K	USD	Annual
Interest expense, net	`InterestExpense`	$22.00K	USD	Annual
Interest expense, net	`InterestExpense`	$32.00K	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$117.00K	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$166.00K	USD	Annual
Total Other Income, Net	`NonoperatingIncomeExpense`	$85.00K	USD	Annual
Total Other Income, Net	`NonoperatingIncomeExpense`	$144.00K	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-17.00K	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-703.00K	USD	Annual
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	$-165.00K	USD	Annual
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	$8.00K	USD	Annual
NET INCOME (LOSS)	`NetIncomeLoss`	$148.00K	USD	Annual
NET INCOME (LOSS)	`NetIncomeLoss`	$-711.00K	USD	Annual
Weighted average number of shares used in basic EPS calculation	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.64M	shares	Annual
Weighted average number of shares used in basic EPS calculation	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.67M	shares	Annual
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.64M	shares	Annual
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.67M	shares	Annual
BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE	`EarningsPerShareBasicAndDiluted`	$-0.27	USD	Annual
BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE	`EarningsPerShareBasicAndDiluted`	$0.06	USD	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$148.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-711.00K	USD	Annual
Depreciation	`Depreciation`	$804.00K	USD	Annual
Depreciation	`Depreciation`	$704.00K	USD	Annual
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$68.00K	USD	Annual
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$66.00K	USD	Annual
Gain on disposal of assets	`GainLossOnDispositionOfAssets1`	$-110.00K	USD	Annual
Gain on disposal of assets	`GainLossOnDispositionOfAssets1`	$-67.00K	USD	Annual
Impairment of note receivable	`AssetImpairmentCharges`	$43.00K	USD	Annual
Impairment of note receivable	`AssetImpairmentCharges`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$67.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$265.00K	USD	Annual
Bargain purchase gain	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$-4.00K	USD	Point-in-time
Bargain purchase gain	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	-	USD	Annual
Bargain purchase gain	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$-4.00K	USD	Annual
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-214.00K	USD	Annual
Dividend from marketable securities	`PaymentsOfDividendsCommonStock`	$-62.00K	USD	Annual
Dividend from marketable securities	`PaymentsOfDividendsCommonStock`	-	USD	Annual
(Increase) decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$660.00K	USD	Annual
(Increase) decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-890.00K	USD	Annual
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$625.00K	USD	Annual
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$-62.00K	USD	Annual
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$13.00K	USD	Annual
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.00K	USD	Annual
Increase (decrease) in accounts payable, accrued compensation and commissions expense and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$634.00K	USD	Annual
Increase (decrease) in accounts payable, accrued compensation and commissions expense and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.01M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$689.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$278.00K	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecuritiesEquity`	-	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecuritiesEquity`	$2.69M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$422.00K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$172.00K	USD	Annual
Acquisition of a business	`PaymentsToAcquireOtherProductiveAssets`	$295.00K	USD	Annual
Acquisition of a business	`PaymentsToAcquireOtherProductiveAssets`	-	USD	Annual
Other	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$117.00K	USD	Annual
Other	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$94.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-328.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.04M	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$8.00K	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-8.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	-	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$361.00K	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.77M	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.55M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	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`	$5.55M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.19M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$21.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$17.00K	USD	Annual
Cash paid for interest	`InterestPaid`	$30.00K	USD	Annual
Cash paid for interest	`InterestPaid`	$52.00K	USD	Annual
Fair value of equipment acquired	`BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentPropertyPlantAndEquipment`	-	USD	Annual
Fair value of equipment acquired	`BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentPropertyPlantAndEquipment`	$85.00K	USD	Annual
Fair value of intangible assets acquired	`BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentIntangibles`	-	USD	Annual
Fair value of intangible assets acquired	`BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentIntangibles`	$214.00K	USD	Annual
Current assets acquired	`BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets`	-	USD	Point-in-time
Current assets acquired	`BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets`	$45.00K	USD	Point-in-time
Current assets acquired	`BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets`	$45.00K	USD	Point-in-time
Current liabilities assumed	`LiabilitiesAssumed1`	-	USD	Annual
Current liabilities assumed	`LiabilitiesAssumed1`	$-45.00K	USD	Annual
Bargain purchase gain	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$-4.00K	USD	Point-in-time
Bargain purchase gain	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	-	USD	Annual
Bargain purchase gain	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$-4.00K	USD	Annual
Cash consideration paid	`PaymentsToAcquireBusinessesGross`	$295.00K	USD	Annual
Cash consideration paid	`PaymentsToAcquireBusinessesGross`	-	USD	Annual
Cash consideration paid	`PaymentsToAcquireBusinessesGross`	$295.00K	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$13.73M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.89M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.67M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.68M	shares	Point-in-time
Net income (loss)	`NetIncomeLoss`	$148.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-711.00K	USD	Annual
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-43.00K	USD	Annual
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-4.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$265.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$67.00K	USD	Annual
Warrant dividend issuance costs	`WarrantDividendIssuanceCosts`	$-60.00K	USD	Annual
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$8.00K	USD	Annual
Balance	`StockholdersEquity`	$13.73M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.89M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.67M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.68M	shares	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
NET INCOME (LOSS)	`NetIncomeLoss`	$148.00K	USD	Annual
NET INCOME (LOSS)	`NetIncomeLoss`	$-711.00K	USD	Annual
Unrealized loss on available-for-sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-43.00K	USD	Annual
Unrealized loss on available-for-sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-4.00K	USD	Annual
TOTAL OTHER COMPREHENSIVE LOSS	`OtherComprehensiveIncomeLossNetOfTax`	$-43.00K	USD	Annual
TOTAL OTHER COMPREHENSIVE LOSS	`OtherComprehensiveIncomeLossNetOfTax`	$-4.00K	USD	Annual
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$105.00K	USD	Annual
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-715.00K	USD	Annual

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