10-Q Filing

LGL GROUP INC CIK: 61004 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-017940`
Period End Date	20190331
Filing Date	20190509
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	lgl-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 28 Cash Flow Statement 46 Stockholders Equity 18

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.30M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$32.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.25M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$40.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.26M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$8.85M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$3.77M	USD	Point-in-time
Accounts receivable, net of allowances of $32 and $40, respectively	`AccountsReceivableNetCurrent`	$3.39M	USD	Point-in-time
Accounts receivable, net of allowances of $32 and $40, respectively	`AccountsReceivableNetCurrent`	$4.40M	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.17M	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`	$4.47M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$242.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$295.00K	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`	4.93M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.91M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$29.02M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.85M	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)	`TreasuryStockCommonShares`	81,584.00	shares	Point-in-time
Treasury stock, (in shares)	`TreasuryStockCommonShares`	81,584.00	shares	Point-in-time
Land	`Land`	$536.00K	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$4.03M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$4.32M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$17.01M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$17.13M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$21.98M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$21.58M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$19.59M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$19.49M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$2.39M	USD	Point-in-time
Net property, plant, and equipment	`PropertyPlantAndEquipmentNet`	$2.09M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$477.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$458.00K	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$127.00K	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$114.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$142.00K	USD	Point-in-time
Total Assets	`Assets`	$32.12M	USD	Point-in-time
Total Assets	`Assets`	$30.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.42M	USD	Point-in-time
Accrued compensation and commissions	`EmployeeRelatedLiabilitiesCurrent`	$1.28M	USD	Point-in-time
Accrued compensation and commissions	`EmployeeRelatedLiabilitiesCurrent`	$1.14M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$429.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$191.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.14M	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; 4,927,012 shares issued and 4,845,428 shares outstanding at March 31, 2019, and 4,912,762 shares issued and 4,831,178 shares outstanding at December 31, 2018	`CommonStockValue`	$49.00K	USD	Point-in-time
Common stock, $0.01 par value - 10,000,000 shares authorized; 4,927,012 shares issued and 4,845,428 shares outstanding at March 31, 2019, and 4,912,762 shares issued and 4,831,178 shares outstanding at December 31, 2018	`CommonStockValue`	$49.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$41.02M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$41.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.17M	USD	Point-in-time
Treasury stock, 81,584 shares held in treasury at cost at March 31, 2019 and December 31, 2018	`TreasuryStockCommonValue`	$580.00K	USD	Point-in-time
Treasury stock, 81,584 shares held in treasury at cost at March 31, 2019 and December 31, 2018	`TreasuryStockCommonValue`	$580.00K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$25.15M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$27.98M	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`	$32.12M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$30.07M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$5.95M	USD	1 Quarter
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$6.63M	USD	1 Quarter
Manufacturing cost of sales	`ManufacturingCosts`	$4.21M	USD	1 Quarter
Manufacturing cost of sales	`ManufacturingCosts`	$3.72M	USD	1 Quarter
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$1.98M	USD	1 Quarter
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$2.07M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$158.00K	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$434.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$1.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$12.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$153.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$24.00K	USD	1 Quarter
Total Other Income, Net	`NonoperatingIncomeExpense`	$36.00K	USD	1 Quarter
Total Other Income, Net	`NonoperatingIncomeExpense`	$154.00K	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$588.00K	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$194.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.00K	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$193.00K	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$582.00K	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	4.70M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	4.84M	shares	1 Quarter
Net income	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Net income	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.96M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.81M	shares	1 Quarter
Net income	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Net income	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$193.00K	USD	1 Quarter
Net income	`ProfitLoss`	$582.00K	USD	1 Quarter
Depreciation	`Depreciation`	$101.00K	USD	1 Quarter
Depreciation	`Depreciation`	$104.00K	USD	1 Quarter
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$18.00K	USD	1 Quarter
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$18.00K	USD	1 Quarter
Recovery of note receivable	`AllowanceForDoubtfulAccountsReceivableRecoveries`	$4.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$6.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$7.00K	USD	1 Quarter
Gain on marketable securities	`MarketableSecuritiesGainLoss`	$77.00K	USD	1 Quarter
Gain on marketable securities	`MarketableSecuritiesGainLoss`	$12.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$13.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$-7.00K	USD	1 Quarter
Increase in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$259.00K	USD	1 Quarter
Increase in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.00M	USD	1 Quarter
Increase in inventories, net	`IncreaseDecreaseInInventories`	$707.00K	USD	1 Quarter
Increase in inventories, net	`IncreaseDecreaseInInventories`	$133.00K	USD	1 Quarter
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$52.00K	USD	1 Quarter
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-72.00K	USD	1 Quarter
Increase in accounts payable, accrued compensation and commissions and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$179.00K	USD	1 Quarter
Increase in accounts payable, accrued compensation and commissions and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.24M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$122.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$158.00K	USD	1 Quarter
Purchase of marketable securities, net	`PaymentsToAcquireAvailableForSaleSecuritiesEquity`	$5.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$172.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$403.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-172.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.40M	USD	1 Quarter
Proceeds from stock option exercise	`ProceedsFromStockOptionsExercised`	$71.00K	USD	1 Quarter
Proceeds from stock option exercise	`ProceedsFromStockOptionsExercised`	$22.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$22.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$71.00K	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.00K	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.21M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.30M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.51M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.25M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.26M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.51M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.26M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$6.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$11.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$9.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$10.00K	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$25.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$24.93M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	4.85M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	4.83M	shares	Point-in-time
Net income	`NetIncomeLoss`	$193.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$582.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$22.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$71.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$7.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$6.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$25.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$24.93M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	4.85M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	4.83M	shares	Point-in-time

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