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LGL (LGL)

The LGL Group, Inc. operates through its principal subsidiary MtronPTI which designs and manufactures customized electronic components used primarily to control the frequency or timing of electronic signals in communications systems.

Company profile

Ticker
LGL, LGL-WT
Exchange
CEO
Ivan Arteaga
Employees
Incorporated
Location
Fiscal year end
Former names
LYNCH CORP
SEC CIK
Subsidiaries
M-tron Systems Holdings, LLC • M-tron Industries, Inc. • Piezo Technology, Inc. • Piezo Technology • M-tron Asia, LLC • M-tron Industries, Ltd. • M-tron Services, Ltd. • Precise Time and Frequency, LLC • Lynch Systems, Inc. • LGL Systems Acquisition Holding Company, LLC ...
IRS number
381799862

LGL stock data

Calendar

12 May 22
12 Aug 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 21.65M 21.65M 21.65M 21.65M 21.65M 21.65M
Cash burn (monthly) 2.45M (no burn) (no burn) 42.08K 184.67K (no burn)
Cash used (since last report) 10.81M n/a n/a 185.36K 813.4K n/a
Cash remaining 10.84M n/a n/a 21.47M 20.84M n/a
Runway (months of cash) 4.4 n/a n/a 510.1 112.8 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 May 22 James William Tivy Common Stock Grant Acquire A No No 10.46 30,000 313.8K 33,000
1 Apr 22 Michael J Ferrantino JR Common Stock Sale back to company Dispose D No No 10.51 4,786 50.3K 41,721
29 Dec 21 Linda M Biles Common Stock Sale back to company Dispose D No No 11.65 1,358 15.82K 16,353
28 Dec 21 Arteaga Ivan Common Stock Grant Acquire A No No 0 1,267 0 20,017
28 Dec 21 Foufas Timothy Common Stock Grant Acquire A No No 0 1,267 0 38,542
48.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 20 12 +66.7%
Opened positions 9 2 +350.0%
Closed positions 1 10 -90.0%
Increased positions 0 1 EXIT
Reduced positions 6 5 +20.0%
13F shares Current Prev Q Change
Total value 16.62M 16.31M +1.9%
Total shares 2.6M 2.47M +5.2%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
GBL Gamco Investors 1.08M $6.2M 0.0%
Gabelli Marc 764.3K $4.46M 0.0%
Renaissance Technologies 364.49K $2.69M -8.0%
Dimensional Fund Advisors 96.05K $1.05M -1.1%
Vanguard 76.86K $842K NEW
Bridgeway Capital Management 58.4K $334K NEW
S. Muoio & Co. 48.29K $529K -25.0%
NTRS Northern Trust 22.16K $11K 0.0%
RY Royal Bank Of Canada 17.2K $98K NEW
BAC Bank Of America 13.59K $73K -0.1%
Largest transactions Shares Bought/sold Change
Vanguard 76.86K +76.86K NEW
Bridgeway Capital Management 58.4K +58.4K NEW
Renaissance Technologies 364.49K -31.5K -8.0%
RY Royal Bank Of Canada 17.2K +17.2K NEW
S. Muoio & Co. 48.29K -16.07K -25.0%
Minerva Advisors 12.9K +12.9K NEW
Koss-Olinger Consulting 0 -10.46K EXIT
Cetera Advisors 10K +10K NEW
UBS UBS Group AG - Registered Shares 9.63K +9.63K NEW
MS Morgan Stanley 2.88K +2.88K NEW

Financial report summary

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Competition
DoverMicrosemiMicrochip TechnologyKnowles
Risks
  • Macroeconomic fluctuations may harm our business, results of operations and stock price.
  • The effects of the COVID-19 pandemic on our business are uncertain and may adversely affect our results of operations and cash flows.
  • We are dependent on a single line of business.
  • Our operating results vary significantly from period to period.
  • We have a large customer that accounts for a significant portion of our revenues, and the loss of this customer, or decrease in its demand for our products, could have a material adverse effect on our results.
  • A relatively small number of customers account for a significant portion of our accounts receivable, and the insolvency of any of these customers could have a material adverse impact on our liquidity.
  • Our order backlog may not be indicative of future revenues.
  • We are a holding company and, therefore, are dependent upon the operations of our subsidiaries to meet our obligations.
  • Our future rate of growth and profitability are highly dependent on the development and growth of the communications, networking, aerospace, defense, instrumentation and industrial markets, which are cyclical.
  • The market share of our customers in the communications, networking, aerospace, defense, instrumentation and industrial markets may change over time, reducing the potential value of our relationships with our existing customer base.
  • We may make acquisitions that are not successful, or we may fail to integrate acquired businesses into our operations properly.
  • If we are unable to introduce innovative products, demand for our products may decrease.
  • Our markets are highly competitive, and we may lose business to larger and better-financed competitors.
  • Our success depends on our ability to retain key management and technical personnel and attracting, retaining, and training new technical personnel.
  • As a supplier to U.S. Government defense contractors, we are subject to a number of procurement regulations and other requirements and could be adversely affected by changes in regulations or any negative findings from a U.S. Government audit or investigation.
  • Our products are complex and may contain errors or design flaws, which could be costly to correct.
  • Communications and network infrastructure equipment manufacturers increasingly rely upon contract manufacturers, thereby diminishing our ability to sell our products directly to those equipment manufacturers.
  • Future changes in our environmental liability and compliance obligations may increase costs and decrease profitability.
  • We have significant international operations and sales to customers outside of the United States that subject us to certain business, economic and political risks.
  • We rely on information technology systems to conduct our business, and disruption, failure or security breaches of these systems could adversely affect our business and results of operations.
  • If we fail to correct any material weakness that we identify in our internal control over financial reporting or otherwise fail to maintain effective internal control over financial reporting, we may not be able to report our financial results accurately and timely, in which case our business may be harmed, investors may lose confidence in the accuracy and completeness of our financial reports and the price of our common stock may decline.
  • The price of our common stock has fluctuated considerably and is likely to remain volatile, in part due to the limited market for our common stock.
  • Our officers, directors and 10% or greater stockholders have significant voting power and may vote their shares in a manner that is not in the best interest of other stockholders.
  • Provisions in our corporate charter documents and under Delaware law could make an acquisition of the Company more difficult, which acquisition may be beneficial to our stockholders.
  • The warrants to purchase shares of our common stock may not have any value.
  • An active trading market for the warrants to purchase shares of our common stock may not develop.
  • Holders of the warrants to purchase shares of our common stock will have no rights as a common stockholder until such holders exercise their warrants and acquire shares of our common stock.
  • Adjustments to the exercise price of the warrants, or the number of shares of common stock for which the warrants are exercisable, following certain corporate events may not fully compensate warrant holders for the value they would have received if they held the common stock underlying the warrants at the time of such events.
  • We may be unable to achieve some or all of the expected benefits of the Spin-Off, and the Spin-Off may adversely affect our business.
Management Discussion
  • As of March 31, 2022, our order backlog was $36,991,000, an increase of 24.1% from $29,797,000 at December 31, 2021 and an increase of 81.4% compared to the backlog of $20,388,000 as of March 31, 2021. The Company attained record backlog levels as of March 31, 2022. Quarterly bookings were $15,302,000 for the first quarter 2022 and $15,169,000 for the fourth quarter 2021. This record booking trend during the last two quarters reflects strong defense orders including $9.8 million from two major missile defense
  • programs, much of which is expected to ship subsequent to 2022. Strong orders from the recovering avionics market also drove the increase in first quarter 2022 bookings over first quarter 2021 bookings. The backlog of unfilled orders includes amounts based on signed contracts as well as agreed letters of intent which we have determined are firm orders likely to be fulfilled largely in the next 12 months. Order backlog is adjusted quarterly to reflect project cancellations, deferrals, revised project scope and cost, and sales of subsidiaries, if any.
  • Total revenues were $8,108,000, or 24.1% above revenues of $6,536,000 for the three months ended March 31, 2021. The revenue increase reflects the recovering avionics market and strong defense product shipments.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
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