---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-018197"
form_type: "8-K/A"
ticker: "LGL"
cik: "0000061004"
company_name: "LGL GROUP INC"
filed_at: "2023-06-23T23:59:59+00:00"
generated_at: "2026-06-13T18:34:17.409394+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# LGL Group Q1 net income $157k, operating loss narrows; Co-CEO to resign, Foufas to join

## Summary
- Revenue $441k vs $417k YoY; operating loss $309k vs $847k loss; net income $157k, EPS $0.03.
- Cash and marketable securities $38.4M at March 31; investment income $345k vs $45k.
- Co-CEO Michael Ferrantino to resign after Q2, remaining on board; Tim Foufas to become Co-CEO.
- Formed SPV Lynch Systems Acquisition Holding in April 2023 to advance merchant banking activities.
- Board expanding with independent candidates with transactional experience to support M&A growth.

## SEC filing metadata
- accession: 0001437749-23-018197
- form_type: 8-K/A
- ticker: LGL
- cik: 0000061004
- company_name: LGL GROUP INC
- filed_at: 2023-06-23T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/61004/000143774923018197/0001437749-23-018197-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/61004/000143774923018197/lglg20230623_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-018197
- JSON: https://secwatch.observer/filing/0001437749-23-018197.json
- Plain text: https://secwatch.observer/filing/0001437749-23-018197.txt

## Key facts
- Earnings Releases
  LGL GROUP INC reported first quarter 2023 (three months ended March 31, 2023) results: revenue $441,000, net income $157,000, EPS $0.03 per share.
  - Period: first quarter 2023 (three months ended March 31, 2023)
  - Revenue: $441,000
  - Net income: $157,000
  - EPS: $0.03 per share
  - Result: reported results
  source text: Revenue of $441,000 for the three months ended March 31, 2023 compared to $417,000 for the comparable prior year period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/61004/000143774923018197/0001437749-23-018197-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.