LGL Group Q3 revenue up 20.6% to $1.18M; EPS falls to $0.01 from $0.02 YoY

LGL GROUP INC

2024-Q3 EPS reported $0.04 revenue$3,135,000

Q3 2024 revenues $1,179,000 vs $978,000 in Q3 2023; net income $72,000 ($0.01/diluted share) vs $108,000 ($0.02/diluted share).
Nine-month revenues $3,135,000 vs $2,683,000; net income per diluted share improved to $0.04 from $0.03.
Gross margin declined to 43.4% in Q3 from 55.5% a year ago due to lower-margin product mix.
Backlog grew to $505,000 at Sep 30, 2024, up from $143,000 at Dec 31, 2023.
Cash and marketable securities $41,618,000; portfolio resilient despite Fed rate cut.

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