10-Q Filing

LGL GROUP INC CIK: 61004 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-010704`
Period End Date	20170331
Filing Date	20170512
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	lgl-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 27 Cash Flow Statement 39 Stockholders Equity 13 Comprehensive Income 8

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$31.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$29.00K	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesEquitySecuritiesCurrent`	$2.77M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesEquitySecuritiesCurrent`	$3.79M	USD	Point-in-time
Accounts receivable, net of allowances of $29 and $31, respectively	`AccountsReceivableNetCurrent`	$3.19M	USD	Point-in-time
Accounts receivable, net of allowances of $29 and $31, respectively	`AccountsReceivableNetCurrent`	$3.50M	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`	$4.05M	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`	$294.00K	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
Total Current Assets	`AssetsCurrent`	$12.89M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.76M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.76M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$13.31M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.68M	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
Land	`Land`	$633.00K	USD	Point-in-time
Treasury stock, (in shares)	`TreasuryStockShares`	81,584.00	shares	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$3.97M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$3.97M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$16.85M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$16.85M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$21.45M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$21.45M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$18.74M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$18.90M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$2.55M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$2.71M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$609.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$628.00K	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$214.00K	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$221.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$204.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$203.00K	USD	Point-in-time
Total Assets	`Assets`	$16.65M	USD	Point-in-time
Total Assets	`Assets`	$16.89M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.52M	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$1.00M	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$942.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$288.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$352.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.87M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Commitments and Contingencies (Note L)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note L)	`CommitmentsAndContingencies`	-	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 March 31, 2017 and December 31, 2016	`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 March 31, 2017 and December 31, 2016	`CommonStockValue`	$27.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$29.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$29.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.73M	USD	Point-in-time
Treasury stock, 81,584 shares held in treasury at cost at March 31, 2017 and December 31, 2016	`TreasuryStockValue`	$580.00K	USD	Point-in-time
Treasury stock, 81,584 shares held in treasury at cost at March 31, 2017 and December 31, 2016	`TreasuryStockValue`	$580.00K	USD	Point-in-time
Treasury stock, 81,584 shares held in treasury at cost at March 31, 2017 and December 31, 2016	`TreasuryStockValue`	$580.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$18.00K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$14.03M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$13.89M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$16.89M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$16.65M	USD	Point-in-time

Income Statement 27 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`SalesRevenueGoodsNet`	$4.76M	USD	1 Quarter
REVENUES	`SalesRevenueGoodsNet`	$5.62M	USD	1 Quarter
Manufacturing cost of sales	`ManufacturingCosts`	$3.56M	USD	1 Quarter
Manufacturing cost of sales	`ManufacturingCosts`	$3.26M	USD	1 Quarter
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$1.96M	USD	1 Quarter
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$1.66M	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-162.00K	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$108.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$6.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$6.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$42.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$12.00K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$6.00K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$36.00K	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-126.00K	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$114.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-126.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$111.00K	USD	1 Quarter
Weighted average shares ourstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	2.68M	shares	1 Quarter
Weighted average shares ourstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	2.67M	shares	1 Quarter
Net income (loss)	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Net income (loss)	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.69M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.67M	shares	1 Quarter
Net income (loss)	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Net income (loss)	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter

Cash Flow Statement 39 line items

Line Item	Tag	Value	Unit	Period
NET INCOME (LOSS)	`NetIncomeLoss`	$-126.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$111.00K	USD	1 Quarter
Depreciation	`Depreciation`	$167.00K	USD	1 Quarter
Depreciation	`Depreciation`	$190.00K	USD	1 Quarter
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$14.00K	USD	1 Quarter
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$20.00K	USD	1 Quarter
Gain on disposal of assets	`GainLossOnDispositionOfAssets1`	$43.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$7.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$-16.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-7.00K	USD	1 Quarter
Decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-62.00K	USD	1 Quarter
Decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-318.00K	USD	1 Quarter
Increase in inventories, net	`IncreaseDecreaseInInventories`	$4.00K	USD	1 Quarter
Increase in inventories, net	`IncreaseDecreaseInInventories`	$412.00K	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$95.00K	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$69.00K	USD	1 Quarter
Increase in accounts payable, accrued compensation and commissions expense and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$110.00K	USD	1 Quarter
Increase in accounts payable, accrued compensation and commissions 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`	$219.00K	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecuritiesEquity`	-	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecuritiesEquity`	$1.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$48.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.01M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-48.00K	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-789.00K	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$23.00K	USD	1 Quarter
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`	$5.58M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	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`	$5.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$20.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$18.00K	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$14.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.89M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.68M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.68M	shares	Point-in-time
NET INCOME (LOSS)	`NetIncomeLoss`	$-126.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$111.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$21.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$-3.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$7.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$14.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.89M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.68M	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`	$-126.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$111.00K	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$21.00K	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-3.00K	USD	1 Quarter
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)	`OtherComprehensiveIncomeLossNetOfTax`	$21.00K	USD	1 Quarter
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)	`OtherComprehensiveIncomeLossNetOfTax`	$-3.00K	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$132.00K	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-129.00K	USD	1 Quarter

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