LGL GROUP INC

For the period ended Jun 30, 2024. Filed Aug 13, 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.

Jun 30, 2024 · Filed Aug 13, 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 each segment's assets as percentage of total assets.

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

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$531	$—	$—	$531
Net investment income	—	315	223	538
Net (losses) gains	—	—	(1)	(1)
Total revenues	531	315	222	1,068
Expenses:
Manufacturing cost of sales	214	—	—	214
Engineering, selling and administrative	243	78	296	617
Total expenses	457	78	296	831
Income (loss) from continuing operations before income taxes	74	237	(74)	237
Income tax expense	—	—	76	76
Net income (loss) from continuing operations	74	237	(150)	161
Income (loss) from discontinued operations, net of tax	—	—	—	—
Net income (loss)	74	237	(150)	161
Less: Net income attributable to non-controlling interests	—	24	—	24
Net income (loss) attributable to LGL Group common stockholders	$74	$213	$(150)	$137

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$403	$—	$—	$403
Net investment income	—	—	275	275
Net (losses) gains	—	—	43	43
Total revenues	403	—	318	721
Expenses:
Manufacturing cost of sales	208	—	—	208
Engineering, selling and administrative	173	—	472	645
Total expenses	381	—	472	853
Income (loss) from continuing operations before income taxes	22	—	(154)	(132)
Income tax expense (benefit)	—	—	(2)	(2)
Net income (loss) from continuing operations	22	—	(152)	(130)
Income (loss) from discontinued operations, net of tax	—	—	—	—
Net income (loss)	22	—	(152)	(130)
Less: Net income attributable to non-controlling interests	—	—	—	—
Net income (loss) attributable to LGL Group common stockholders	$22	$—	$(152)	$(130)

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$923	$—	$—	$923
Net investment income	—	604	433	1,037
Net (losses) gains	—	—	(4)	(4)
Total revenues	923	604	429	1,956
Expenses:
Manufacturing cost of sales	418	—	—	418
Engineering, selling and administrative	429	127	666	1,222
Total expenses	847	127	666	1,640
Income (loss) from continuing operations before income taxes	76	477	(237)	316
Income tax expense	—	—	112	112
Net income (loss) from continuing operations	76	477	(349)	204
Income (loss) from discontinued operations, net of tax	—	—	—	—
Net income (loss)	76	477	(349)	204
Less: Net income attributable to non-controlling interests	—	46	—	46
Net income (loss) attributable to LGL Group common stockholders	$76	$431	$(349)	$158

	Electronic Instruments	Merchant Investment	Corporate	Consolidated
Revenues:
Net sales	$844	$—	$—	$844
Net investment income	—	—	473	473
Net (losses) gains	—	—	388	388
Total revenues	844	—	861	1,705
Expenses:
Manufacturing cost of sales	400	—	—	400
Engineering, selling and administrative	350	—	837	1,187
Total expenses	750	—	837	1,587
Income (loss) from continuing operations before income taxes	94	—	24	118
Income tax expense	—	—	63	63
Net income (loss) from continuing operations	94	—	(39)	55
Income (loss) from discontinued operations, net of tax	—	—	(28)	(28)
Net income (loss)	94	—	(67)	27
Less: Net income attributable to non-controlling interests	—	—	—	—
Net income (loss) attributable to LGL Group common stockholders	$94	$—	$(67)	$27

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

	June 30, 2024	December 31, 2023
Electronic Instruments	$835	$843
Merchant Investment	24,134	23,530
Corporate	17,278	17,477
Total	$42,247	$41,850

The Company didnot have any capital expenditures as of* June 30, 2024* or* December 31, 2023*.

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