8-K
filed November 14, 2022, 6:59 PM ET
ticker LGL
CIK 0000061004
earnings
confidence high
sentiment negative
materiality 0.75
LGL Group Q3 revenue up 16.8% to $8.8M; net loss $0.27/diluted share; MtronPTI spin-off completed
LGL GROUP INC
2022-Q3 EPS reported
-$0.58
revenue$-3,261,000
- Revenue $8.8M (+16.8% YoY); 9-month revenue $24.3M (+16.2%).
- Diluted net loss $0.27 per share vs income $5.97 prior-year quarter; 9-month loss $0.58.
- Backlog $44.2M at Sep 30, 2022, up 48.3% from Dec 31, 2021.
- Realized/unrealized losses of $4.4M from IronNet (IRNT) investment for 9 months.
- Completed spin-off of MtronPTI (MPTI) on Oct 7, 2022; stockholders got 0.5 share per LGL share.
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 three months ended September 30, 2022 results: revenue $8.8 million, EPS $(0.27) per diluted share.
- Period
- three months ended September 30, 2022
- Revenue
- $8.8 million
- EPS
- $(0.27) per diluted share
- Result
- reported results
Exact text from the filing
Revenue of $8.8 million for the three months ended September 30, 2022 increased 16.8% compared to $7.5 million for the comparable prior year period. For the nine months ended September 30, 2022, revenue was $24.3 million, a 16.2% increase from the $20.9 million reported for the comparable prior year period. • Realized and unrealized losses aggregating $4.4 million for the nine months ended September 30, 2022, largely related to unrealized losses recorded for the Company’s ongoing investment in IronNet, Inc. • Diluted net loss of $0.27 per share compared to income of $5.97 for the prior year quarter, and a loss of $0.58 for the nine months versus income of $5.96 for the comparable prior year period.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
LGL GROUP INC reported nine months ended September 30, 2022 results: revenue $24.3 million, net income $3.1 million, EPS a loss of $0.58.
- Period
- nine months ended September 30, 2022
- Revenue
- $24.3 million
- Net income
- $3.1 million
- EPS
- a loss of $0.58
- Result
- reported results
Exact text from the filing
Revenue of $8.8 million for the three months ended September 30, 2022 increased 16.8% compared to $7.5 million for the comparable prior year period. For the nine months ended September 30, 2022, revenue was $24.3 million, a 16.2% increase from the $20.9 million reported for the comparable prior year period. • Realized and unrealized losses aggregating $4.4 million for the nine months ended September 30, 2022, largely related to unrealized losses recorded for the Company’s ongoing investment in IronNet, Inc. • Diluted net loss of $0.27 per share compared to income of $5.97 for the prior year quarter, and a loss of $0.58 for the nine months versus income of $5.96 for the comparable prior year period. • Backlog of $44.2 million at September 30, 2022, up 48.3% versus $29.8 million as of Q4 2021 and up 102.3% compared to $21.8 million at September 30, 2021. • Net working capital of $47.7 million including cash and marketable securities of $39.4 million and $7.6 million of inventory as of Se
View on SEC.gov
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