The LGL Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 04:08 pm
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The LGL Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 0.403 million compared to USD 0.37 million a year ago. Net loss was USD 0.13 million compared to USD 1.8 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.42 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to USD 0.42 a year ago. Basic loss per share was USD 0.02 compared to USD 0.34 a year ago. Diluted loss per share was USD 0.02 compared to USD 0.34 a year ago.
For the six months, sales was USD 0.844 million compared to USD 0.787 million a year ago. Net income was USD 0.027 million compared to net loss of USD 1.63 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to basic loss per share from continuing operations of USD 0.54 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to diluted loss per share from continuing operations of USD 0.54 a year ago. Basic earnings per share was USD 0.01 compared to basic loss per share of USD 0.31 a year ago. Diluted earnings per share was USD 0.01 compared to diluted loss per share of USD 0.31 a year ago.
The LGL Group, Inc. is a holding company engaged in services, merchant investment and manufacturing business activities. The Company, through its subsidiary, Precise Time and Frequency, LLC (PTF), produces industrial electronic instruments and commercial products and services. PTF operates from its design and manufacturing facility in Wakefield, Massachusetts. It operates through two segments: Electronic Instruments and Merchant Investment. The Electronic Instruments segment operates through PTF, which is engaged in the design of frequency and time reference standards that form the basis for timing and synchronization in various applications, including satellite communication, time transfer systems, network synchronization, electricity distribution and metrology. The Merchant Investment segment consists of various investment vehicles in which the Company has a shareholder, partner, or general partner interest, and through which LGL Group invests its capital.
THE LGL GROUP, INC. 