LGL GROUP INC
For the period ended Mar 31, 2024. Filed May 15, 2024.
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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
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
Form 10-Q for the Period Ended March 31, 2024
Table of Contents
| Page | ||||
|---|---|---|---|---|
| PART I. | FINANCIAL INFORMATION | |||
| Item 1. | Financial Statements (Unaudited) | |||
| Condensed Consolidated Balance Sheets | 2 | |||
| Condensed Consolidated Statements of Operations | 3 | |||
| Condensed Consolidated Statements of Stockholders’ Equity | 4 | |||
| Condensed Consolidated Statements of Cash Flows | 5 | |||
| Notes to the Condensed Consolidated Financial Statements | ||||
| 1. | Basis of Presentation | 6 | ||
| 2. | Summary of Significant Accounting Policies | 6 | ||
| 3. | Segment Information | 7 | ||
| 4. | Investments | 8 | ||
| 5. | Fair Value Measurements | 9 | ||
| 6. | Variable Interest Entities | 10 | ||
| 7. | Related Party Transactions | 11 | ||
| 8. | Income Taxes | 12 | ||
| 9. | Stock-Based Compensation | 12 | ||
| 10. | Stockholders' Equity | 12 | ||
| 11. | Earnings Per Share | 13 | ||
| 12. | Contingencies | 13 | ||
| 13. | Other Financial Statement Information | 14 | ||
| 14. | Domestic and Foreign Revenues | 14 | ||
| 15. | Subsequent Events | 14 | ||
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 15 | ||
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 19 | ||
| Item 4. | Controls and Procedures | 19 | ||
| PART II. | OTHER INFORMATION | |||
| Item 1. | Legal Proceedings | 20 | ||
| Item 1A. | Risk Factors | 20 | ||
| Item 5. | Other Information | 20 | ||
| Item 6. | Exhibits | 20 | ||
| Signatures | 21 | |||
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this Quarterly Report on Form 10-Q of The LGL Group, Inc. ("LGL Group" or the "Company") and the Company's other communications and statements, other than historical facts, may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company intends for all such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act, as applicable by law. Such statements include, in particular, statements about the Company's beliefs, plans, objectives, goals, expectations, estimates, projections and intentions. These statements are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond the Company's control. The words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "target," "goal" and similar expressions are intended to identify forward-looking statements. All forward-looking statements, by their nature, are subject to risks and uncertainties. Therefore, such statements are not intended to be a guarantee of the Company's performance in future periods. The Company's actual future results may differ materially from those set forth in the Company's forward-looking statements. For information concerning these factors and related matters, see "Risk Factors" in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission ("SEC") on April 1, 2024, this Quarterly Report on Form 10-Q and our other filings with the SEC. However, other factors besides those referenced could adversely affect the Company's results, and you should not consider any such list of factors to be a complete set of all potential risks or uncertainties. Any forward-looking statements made by the Company herein speak as of the date of this Quarterly Report on Form 10-Q. The Company does not undertake to update any forward-looking statement, except as required by law. As a result, you should not place undue reliance on these forward-looking statements.
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