LGL Group Q1 2024 revenue falls 10% to $888K; net income drops to $21K

LGL GROUP INC

2024-Q1 EPS reported $0.00 revenue$888,000

Total revenues of $888K, down $96K from $984K in Q1 2023.
Net income available to common stockholders $21K ($0.00 per diluted share) vs $157K ($0.03) year ago.
Gross margin declined to 48.0% from 56.5% on unfavorable product mix and higher labor costs.
Order backlog improved to $341K, up $198K from $143K at Dec. 31, 2023.
Cash, equivalents and marketable securities $40.9M as of March 31, 2024.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LGL GROUP INC reported first quarter ended March 31, 2024 results: revenue $888,000, net income $21,000, EPS $0.00 per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $888,000
Net income: $21,000
EPS: $0.00 per diluted share
Result: reported results

Exact text from the filing

Total revenues decreased $96,000 to $888,000 for the three months ended March 31, 2024 from $984,000 for the three months ended March 31, 2023

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Source: SEC EDGAR

accession 0001437749-24-017097

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