Company profile

Michael J. Ferrantino
Incorporated in
Fiscal year end
Former names
IRS number

LGL stock data



14 Nov 19
7 Dec 19
31 Dec 19


Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 8.59M 7.84M 6.63M 6.43M
Net income 4.53M 939K 582K 262K
Diluted EPS 0.91 0.19 0.12 0.05
Net profit margin 52.75% 11.98% 8.78% 4.07%
Operating income 1.12M 856K 434K 306K
Net change in cash 1.34M -478K -5.21M 13.12M
Cash on hand 11.16M 9.82M 10.3M 15.51M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 24.87M 22.4M 20.71M
Net income 1.41M 117K 148K -711K
Diluted EPS 0.29 0.04 0.06 -0.27
Net profit margin 5.65% 0.52% -3.43%
Operating income 1.43M 276K -161K -788K
Net change in cash 2.26M 10.47M -2.78M 361K
Cash on hand 15.51M 13.25M 2.78M 5.55M

Financial data from LGL earnings reports

Financial report summary

  • 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.
  • 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.
  • Cybersecurity risks and cyber incidents may adversely affect our business by causing a disruption to our operations, a compromise or corruption of our confidential information, and/or damage to our business relationships, all of which could negatively impact our financial results.
  • 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.
  • Provisions in our corporate charter documents and under Delaware law could make an acquisition of the Company, which may be beneficial to our stockholders, more difficult.
Management Discussion
  • As of September 30, 2019, our order backlog was $23,285,000, which is an increase of 45.0% compared to the backlog of $16,062,000 as of September 30, 2018. The increase reflects the Company’s stronger execution in delivering design wins coupled with favorable market conditions. While we have been building backlog faster than our growth in revenues due primarily to orders being received sooner than planned, this quarter saw a reduction in backlog from the prior quarter as production increases that resulted in increased revenues more than offset our new orders, which had declined as expected this quarter following two record-breaking quarters. 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 in the next 12 months.
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