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08/14/2014
1
The LGL Group, Inc. Reports Second Quarter 2014 Financial Results
06/17/2014
0
Michael Ferrantino, Sr. Appointed as Executive Chairman and CEO of LGL
06/03/2014
0
MtronPTI Introduces a Line of Low G-sensitivity Oscillators
05/27/2014
0
MtronPTI at the International Microwave Symposium June 1 - 6 in Tampa
05/22/2014
0
LGL Announces Senior Leadership Changes
05/13/2014
0
The LGL Group, Inc. Reports First Quarter 2014 Financial Results
05/01/2014
0
The LGL Group, Inc. to Host an Investor Conference Call on Wednesday, May 14, 2014, at 10:00 a.m. ET to Discuss Q1 2014 Earnings
03/26/2014
0
$3B Defense and Aerospace Client Sharpens Their Focus with MtronPTI
03/25/2014
0
LGL Group, Inc. Reports Full Year and Fourth Quarter 2014 Financial Results
03/11/2014
0
MtronPTI Timing Products Help Secure Our Wireless Life

The LGL Group, Inc. Reports Second Quarter 2014 Financial Results

ORLANDO, FL, August 14, 2014 – The LGL Group, Inc. (NYSE MKT: LGL) (the “Company”), announced results for the three and six months ended June 30, 2014.
Summary of Q2 2014 Results:

  • Revenues of $5.9 million, a decrease of 16.0% compared to Q2 2013
  • Net loss of ($1.3) million, or ($0.49) per share
  • Adjusted EBITDA loss of ($0.5) million, or ($0.21) per share
  • Gross margin of 23.3%
  • Backlog improves to $9.6 million at 6/30/2014 vs. $9.1 million at 3/31/2014

Total revenues for Q2 2014 were approximately $5.9 million, a decrease of 16.0% compared to revenues of $7.0 million for the comparable period in 2013. The Company reported a net loss of ($1.3) million, or ($0.49) per share for Q2 2014, which included a one-time non-cash restructuring charge of ($0.4) million, compared with a net loss of ($5.0) million, or ($1.91) per share for the comparable period in 2013, which included a one-time non-cash charge of ($4.1) million to recognize a valuation allowance against our deferred tax assets as required by U.S. GAAP. Adjusted EBITDA, which excludes non-cash stock-based compensation and one-time non-cash restructuring charges, was a loss of ($0.5) million, or ($0.21) per share, for Q2 2014, compared to a loss of ($0.4) million, or ($0.16) per share, for the comparable period in 2013.

Complete Press Release