The LGL Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2024. For the third quarter, the company reported sales was USD 0.65 million compared to USD 0.438 million a year ago. Revenue was USD 1.18 million compared to USD 0.978 million a year ago. Net income was USD 0.072 million compared to USD 0.108 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 0.02 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to USD 0.02 a year ago. Basic earnings per share was USD 0.01 compared to USD 0.02 a year ago. Diluted earnings per share was USD 0.01 compared to USD 0.02 a year ago.
For the nine months, sales was USD 1.57 million compared to USD 1.28 million a year ago. Revenue was USD 3.14 million compared to USD 2.68 million a year ago. Net income was USD 0.23 million compared to USD 0.135 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to USD 0.03 a year ago. Diluted earnings per share from continuing operations was USD 0.04 compared to USD 0.03 a year ago. Basic earnings per share was USD 0.04 compared to USD 0.03 a year ago. Diluted earnings per share was USD 0.04 compared to USD 0.03 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. The Company’s segments include 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.
