10-K Filing

LGL GROUP INC CIK: 61004 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001564590-19-008815`
Period End Date	20181231
Filing Date	20190321
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	lgl-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 28 Cash Flow Statement 51 Stockholders Equity 22 Comprehensive Income 6

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$40.00K	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$35.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.51M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$3.77M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$3.80M	USD	Point-in-time
Accounts receivable, net of allowances of $40 and $35, respectively	`AccountsReceivableNetCurrent`	$3.39M	USD	Point-in-time
Accounts receivable, net of allowances of $40 and $35, respectively	`AccountsReceivableNetCurrent`	$3.39M	USD	Point-in-time
Inventories, net	`InventoryNet`	$4.47M	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`	$3.88M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$229.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$242.00K	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
Total Current Assets	`AssetsCurrent`	$27.39M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.77M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.91M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$24.55M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.69M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.83M	shares	Point-in-time
Land	`Land`	$536.00K	USD	Point-in-time
Treasury stock, (in shares)	`TreasuryStockShares`	81,584.00	shares	Point-in-time
Land	`Land`	$536.00K	USD	Point-in-time
Treasury stock, (in shares)	`TreasuryStockShares`	81,584.00	shares	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$4.03M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$3.97M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$16.97M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$17.01M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$21.48M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$21.58M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$19.30M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$19.49M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$2.18M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$2.09M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$552.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$477.00K	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$173.00K	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$127.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$101.00K	USD	Point-in-time
Total Assets	`Assets`	$30.07M	USD	Point-in-time
Total Assets	`Assets`	$27.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.42M	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$1.14M	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$872.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$191.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$278.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.63M	USD	Point-in-time
Commitments and Contingencies (Note J)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note J)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value - 10,000,000 shares authorized; 4,912,762 shares issued and 4,831,178 shares outstanding at December 31, 2018, and 4,774,477 shares issued and 4,692,893 shares outstanding at December 31, 2017	`CommonStockValue`	$47.00K	USD	Point-in-time
Common stock, $0.01 par value - 10,000,000 shares authorized; 4,912,762 shares issued and 4,831,178 shares outstanding at December 31, 2018, and 4,774,477 shares issued and 4,692,893 shares outstanding at December 31, 2017	`CommonStockValue`	$49.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$41.02M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$40.03M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.17M	USD	Point-in-time
Treasury stock, 81,584 shares held in treasury at cost at December 31, 2018 and 2017	`TreasuryStockCommonValue`	$580.00K	USD	Point-in-time
Treasury stock, 81,584 shares held in treasury at cost at December 31, 2018 and 2017	`TreasuryStockCommonValue`	$580.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$35.00K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$13.89M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$27.32M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$24.93M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$30.07M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$27.55M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$24.87M	USD	Annual
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$22.40M	USD	Annual
Manufacturing cost of sales	`ManufacturingCosts`	$15.21M	USD	Annual
Manufacturing cost of sales	`ManufacturingCosts`	$14.66M	USD	Annual
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$8.23M	USD	Annual
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$7.46M	USD	Annual
OPERATING INCOME	`OperatingIncomeLoss`	$1.43M	USD	Annual
OPERATING INCOME	`OperatingIncomeLoss`	$276.00K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$-11.00K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$2.00K	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-46.00K	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$138.00K	USD	Annual
Total Other Income (Expense), net	`NonoperatingIncomeExpense`	$140.00K	USD	Annual
Total Other Income (Expense), net	`NonoperatingIncomeExpense`	$-57.00K	USD	Annual
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.57M	USD	Annual
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$219.00K	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	$102.00K	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	$165.00K	USD	Annual
NET INCOME	`NetIncomeLoss`	$1.41M	USD	Annual
NET INCOME	`NetIncomeLoss`	$117.00K	USD	Annual
Weighted average number of shares used in basic earnings per share calculation	`WeightedAverageNumberOfSharesOutstandingBasic`	4.75M	shares	Annual
Weighted average number of shares used in basic earnings per share calculation	`WeightedAverageNumberOfSharesOutstandingBasic`	2.93M	shares	Annual
Basic net income per share	`EarningsPerShareBasic`	$0.04	USD	Annual
Basic net income per share	`EarningsPerShareBasic`	$0.30	USD	Annual
Weighted average number of shares used in diluted earnings per share calculation	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.04M	shares	Annual
Weighted average number of shares used in diluted earnings per share calculation	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.88M	shares	Annual
Diluted net income per share	`EarningsPerShareDiluted`	$0.04	USD	Annual
Diluted net income per share	`EarningsPerShareDiluted`	$0.29	USD	Annual

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$1.41M	USD	Annual
Net income	`ProfitLoss`	$117.00K	USD	Annual
Depreciation	`Depreciation`	$567.00K	USD	Annual
Depreciation	`Depreciation`	$417.00K	USD	Annual
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$75.00K	USD	Annual
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$75.00K	USD	Annual
(Recovery) impairment of note receivable	`RecoveryOfImpairmentNotesReceivable`	$4.00K	USD	Annual
(Recovery) impairment of note receivable	`RecoveryOfImpairmentNotesReceivable`	$-102.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$64.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$88.00K	USD	Annual
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$46.00K	USD	Annual
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$41.00K	USD	Annual
Loss (gain) on marketable securities	`MarketableSecuritiesGainLoss`	$-28.00K	USD	Annual
Loss (gain) on marketable securities	`MarketableSecuritiesGainLoss`	$21.00K	USD	Annual
Dividend from marketable securities	`PaymentsOfDividendsCommonStock`	$6.00K	USD	Annual
(Increase) decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-111.00K	USD	Annual
(Increase) decrease in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.00K	USD	Annual
Increase in inventories, net	`IncreaseDecreaseInInventories`	$591.00K	USD	Annual
Increase in inventories, net	`IncreaseDecreaseInInventories`	$237.00K	USD	Annual
Decrease (increase) in prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$28.00K	USD	Annual
Decrease (increase) in prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-92.00K	USD	Annual
Increase (decrease) in accounts payable, accrued compensation and commissions expense and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$125.00K	USD	Annual
Increase (decrease) in accounts payable, accrued compensation and commissions expense and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-128.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.66M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$681.00K	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$1.00M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$131.00K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$324.00K	USD	Annual
Proceeds from sale of land	`ProceedsFromSaleOfLandHeldForUse`	$96.00K	USD	Annual
Other	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$34.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-324.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.00M	USD	Annual
(Costs) proceeds from issuance of common stock, net of issuance costs	`CostsProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts`	$28.00K	USD	Annual
(Costs) proceeds from issuance of common stock, net of issuance costs	`CostsProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts`	$-10.79M	USD	Annual
Proceeds from warrant exercise	`ProceedsFromWarrantExercises`	$927.00K	USD	Annual
Proceeds from warrant exercise	`ProceedsFromWarrantExercises`	$926.95K	USD	Point-in-time
Proceeds from stock option exercise	`ProceedsFromStockOptionsExercised`	$27.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.79M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$926.00K	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.26M	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.47M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$13.25M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$15.51M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$13.25M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$15.51M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$23.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$23.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$69.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$41.00K	USD	Annual

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$13.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$24.93M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	4.69M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	4.83M	shares	Point-in-time
Net income	`NetIncomeLoss`	$1.41M	USD	Annual
Net income	`NetIncomeLoss`	$117.00K	USD	Annual
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$38.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$27.00K	USD	Annual
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	9,376.00	shares	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$88.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$64.00K	USD	Annual
Stock-based compensation (in shares)	`StockIssuedDuringPeriodSharesRestrictedStockAwardGross`	6,516.00	shares	Annual
Warrant dividend exercise	`StockIssuedDuringPeriodValueWarrantDividendExercised`	$927.00K	USD	Annual
Issuance costs for rights offering	`StockIssuanceCostsRightsOffering`	$28.00K	USD	Annual
Issuance of shares, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$10.79M	USD	Annual
Issuance of shares, net of issuance costs (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	123,593.00	shares	Point-in-time
Balance	`StockholdersEquity`	$13.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$24.93M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	4.69M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	4.83M	shares	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$1.41M	USD	Annual
NET INCOME	`NetIncomeLoss`	$117.00K	USD	Annual
Unrealized gain on available-for-sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$38.00K	USD	Annual
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$38.00K	USD	Annual
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$155.00K	USD	Annual
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$1.41M	USD	Annual

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