Matribhumi Samachar English
Orlando, Florida–(Newsfile Corp. – May 15, 2025) – The LGL Group, Inc. (NYSE American: LGL) (“LGL,” “LGL Group,” or the “Company”) announced today its financial results for the first quarter ended March 31, 2025.
Cash and cash equivalents and marketable securities were $42.0 million as of March 31, 2025Form S-1 expected to be filed in second quarter with an amended Warrant Agreement that includes over-subscription privilegeP3 Logistic Solutions’ tactical edge artificial intelligence contract development strengthensPrecise Time and Frequency revenues increased 27% in Q1 2025Morgan Group Holding Co. receives GAMCO final agreements and is expected to close within second quarter
Results from Operations
Total revenues increased $30,000 to $918,000 for the three months ended March 31, 2025 from $888,000 for the three months ended March 31, 2024 primarily due to higher shipments in the Electronic Instruments segment.
Net (loss) income available to LGL Group common stockholders was ($6,000) for the three months ended March 31, 2025 compared with $21,000 for the three months ended March 31, 2024. The decrease was primarily due to:
lower Net investment income on investments in U.S. Treasury money market funds due to lower yields;higher Manufacturing costs of sales driven by the increase in Net sales; andhigher Engineering, selling and administrative costs related to an increase in salaries and wages.
The decrease was partially offset by higher Net sales due to higher backlog as of December 31, 2024.
Gross Margin
Gross margin increased to 52.4% for the three months ended March 31, 2025 compared to 48.0% for the three months ended March 31, 2024. The increase in gross margins reflects a higher margin product mix.
Backlog
As of March 31, 2025, our order backlog was $295,000, a decrease of $41,000 from $336,000 as of December 31, 2024. The backlog of unfilled orders includes amounts based on purchase orders, which we have determined are firm orders likely to be fulfilled primarily in the next 12 months but most of the backlog will ship in the next 90 days.
Liquidity
Our working capital metrics were as follows:
(in thousands) March 31, 2025 December 31, 2024Current assets $42,820 $ 42,642Less: Current liabilities 1,013 904Working capital $41,807 $ 41,738
As of March 31, 2025, LGL Group had investments (classified within Cash and cash equivalents and Marketable securities) with a fair value of $41.7 million, of which $24.9 million was held within the Merchant Investment business.
Board of Directors Changes
Michael J. Ferrantino, Jr. and Timothy Foufas will not stand for re-election to the Board of Directors of LGL Group at the Company’s Annual Meeting of Stockholders on June 2, 2025. The decision reflects their intention to dedicate greater focus to launching the previously announced Connectivity Partnership.
“We remain committed to enhancing stockholder value and are excited to continue supporting LGL Group through the Company’s strategic investment in the Connectivity Partnership,” said Mr. Ferrantino and Mr. Foufas.
About The LGL Group, Inc.
The LGL Group, Inc. (“LGL,” “LGL Group,” or the “Company”) is a holding company engaged in services, merchant investment and manufacturing business activities. Precise Time and Frequency, LLC (“PTF”) is a globally positioned producer of industrial Electronic Instruments and commercial products and services. Founded in 2002, PTF operates from our design and manufacturing facility in Wakefield, Massachusetts. Lynch Capital International LLC is focused on the development of value through investments.
LGL Group was incorporated in 1928 under the laws of the State of Indiana, and in 2007, the Company was reincorporated under the laws of the State of Delaware as The LGL Group, Inc. We maintain our executive offices at 2525 Shader Road, Orlando, Florida 32804. Our telephone number is (407) 298-2000. Our Internet address is www.lglgroup.com. LGL common stock and warrants are traded on the NYSE American under the symbols “LGL” and “LGL WS,” respectively.
LGL Group’s business strategy is primarily focused on growth through expanding new and existing operations across diversified industries. The Company’s engineering and design origins date back to the early 1900s. In 1917, Lynch Glass Machinery Company (“Lynch Glass”), the predecessor of LGL Group, was formed and emerged in the late 1920s as a successful manufacturer of glass-forming machinery. Lynch Glass was then renamed Lynch Corporation (“Lynch”) and was incorporated in 1928 under the laws of the State of Indiana. In 1946, Lynch was listed on the “New York Curb Exchange,” the predecessor to the NYSE American. The Company has a had a long history of owning and operating various business in the precision engineering, manufacturing, and services sectors.
Cautionary Note Concerning Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, such as those pertaining to the Company’s financial condition, results of operations, business strategy and financial needs. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words “believe,” “expect,” “anticipate,” “should,” “plan,” “will,” “may,” “could,” “intend,” “estimate,” “predict,” “potential,” “continue” or the negative of these terms and similar expressions, as they relate to LGL Group, are intended to identify forward-looking statements.
These forward-looking statements are largely based on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the Company. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the filings made by LGL Group with the Securities and Exchange Commission (“SEC”), including those risks set forth under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 as filed with the SEC on March 31, 2025. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release.
These forward-looking statements speak only as of the date of this press release. LGL Group undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
Three Months Ended March 31,(in thousands, except share data) 2025 2024Revenues: Net sales $ 498 $392Net investment income 417 499Net gains (losses) 3 (3)Total revenues 918 888Expenses: Manufacturing cost of sales 237 204Engineering, selling and administrative 640 605Total expenses 877 809Income from operations before income taxes 41 79Income tax expense 28 36Net income 13 43Less: Net income attributable to non-controlling interests 19 22Net (loss) income attributable to LGL Group common stockholders $ (6)
$21 (Loss) income per common share attributable to LGL Group common stockholders: Basic $ (0.00)
$0.00Diluted $ (0.00)
$0.00 Weighted average shares outstanding: Basic 5,352,937 5,352,937Diluted 5,352,937 5,604,430
The LGL Group, Inc.
Consolidated Balance Sheets
(Unaudited)
(in thousands)March 31, 2025 December 31, 2024Assets: Current assets: Cash and cash equivalents$41,925 $
41,585Marketable securities20 17Accounts receivable, net of reserves of $52 and $52, respectively306 493Inventories, net241 267Prepaid expenses and other current assets328 280Total current assets42,820 42,642Right-of-use lease assets293 308Intangible assets, net30 36Deferred income tax assets159 159Total assets$43,302 $
43,145 Liabilities: Total current liabilities1,013 904Non-current liabilities1,027 1,001Total liabilities2,040 1,905 Stockholders’ equity: Total LGL Group stockholders’ equity39,233 39,230Non-controlling interests2,029 2,010Total stockholders’ equity41,262 41,240Total liabilities and stockholders’ equity$43,302 $
43,145
The LGL Group, Inc.
Segment Results
(Unaudited)
Three Months Ended March 31, (in thousands)2025 2024 $ Change % ChangeRevenues: Electronic Instruments$498 $392 $106 27.0%Merchant Investment247 289 (42)
-14.5%Corporate173 207 (34)
-16.4%Total revenues918 888 30 3.4% Expenses: Electronic Instruments479 390 89 22.8%Merchant Investment94 49 45 91.8%Corporate304 370 (66)
-17.8%Total expenses877 809 68 8.4% Income (loss) from operations before income taxes Electronic Instruments19 2 17 850.0%Merchant Investment153 240 (87)
-36.3%Corporate(131)
(163)
32 -19.6%Income from operations before income taxes41 79 (38)
-48.1%Income tax expense28 36 (8)
-22.2%Net income13 43 (30)
-69.8%Less: Net income attributable to non-controlling interests19 22 (3)
-13.6%Net (loss) income attributable to LGL Group common stockholders$(6)
$21 $(27)
-128.6%
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