LGL GROUP INC

For the period ended Mar 31, 2024. Filed May 15, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 15, 2024

LGL$6.63+1.2%Stored close · as of Nov 6, 2026

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Contents

Segment Information

3. Segment Information

The Company has identifiedtwo reportable business segments: Electronic Instruments and Merchant Investment. These segments are consistent with the manner in which the chief operating decision maker reviews the business to assess performance and allocate resources. A brief description of each segment is below:

The Electronic Instruments segment includes all products manufactured and sold by PTF.

The Merchant Investment segment includes all activity produced by Lynch Capital International, LLC ("Lynch Capital").

The Company includes in Corporate the following corporate and business activities:

•	corporate level assets and financial obligations such as cash and cash equivalents invested in highly liquid U.S. Treasury money market funds and other marketable securities;

•	other items not allocated to or directly related to the Company's operating segments, including items such as deferred tax balances; and

•	intercompany eliminations.

The Electronic Instruments and Merchant Investment segments are allocated overhead expenses based on total assets.

The following tables presents LGL Group's operations by segment:

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$392	$—	$—	$392
Net investment income	—	289	210	499
Net (losses) gains	—	—	(3)	(3)
Total revenues	392	289	207	888
Expenses:
Manufacturing cost of sales	204	—	—	204
Engineering, selling and administrative	186	49	370	605
Total expenses	390	49	370	809
Income (loss) from continuing operations before income taxes	2	240	(163)	79
Income tax expense	—	—	36	36
Net income (loss) from continuing operations	2	240	(199)	43
Income (loss) from discontinued operations, net of tax	—	—	—	—
Net income	2	240	(199)	43
Less: Net income attributable to non-controlling interests	—	22	—	22
Net income (loss) attributable to LGL Group common stockholders	$2	$218	$(199)	$21

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$441	$—	$—	$441
Net investment income	—	—	198	198
Net (losses) gains	—	—	345	345
Total revenues	441	—	543	984
Expenses:
Manufacturing cost of sales	192	—	—	192
Engineering, selling and administrative	177	—	365	542
Total expenses	369	—	365	734
Income (loss) from continuing operations before income taxes	72	—	178	250
Income tax expense	—	—	65	65
Net income (loss) from continuing operations	72	—	113	185
Income (loss) from discontinued operations, net of tax	—	—	(28)	(28)
Net income	72	—	85	157
Less: Net income attributable to non-controlling interests	—	—	—	—
Net income (loss) attributable to LGL Group common stockholders	$72	$—	$85	$157

The following table presents LGL Group's identifiable assets by segment:

	March 31, 2024	December 31, 2023
Electronic Instruments	$710	$843
Merchant Investment	23,819	23,530
Corporate	17,422	17,477
Total	$41,951	$41,850

The Company didnot have any capital expenditures as of* March 31, 2024* or* December 31, 2023*.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.