The LGL (US:LGL)2025-04-01 12:50Financial Performance - Fourth Quarter 2024 net income available to LGL Group common stockholders was $202,000, or $0.04 per diluted share, compared to $134,000, or $0.02 per diluted share in Q4 2023, reflecting an increase of 50%[4] - Fiscal Year 2024 net income available to LGL Group common stockholders was $432,000, or $0.08 per diluted share, up from $269,000, or $0.05 per diluted share in 2023, marking a 60.6% increase[6] - Net income from continuing operations for Q4 2024 was $228,000, a 42.5% increase from $160,000 in Q4 2023[29] - Net income attributable to LGL Group common stockholders for the fiscal year 2024 was $432,000, a 60.6% increase from $269,000 in 2023[31] Revenue Growth - Total revenues for Q4 2024 increased by $162,000 to $1,157,000 from $995,000 in Q4 2023, representing a growth of approximately 16.3%[6] - Total revenues for the fiscal year 2024 rose by $614,000 to $4,292,000 from $3,678,000 in 2023, an increase of approximately 16.7%[6] - Total revenues for Q4 2024 increased by 16.3% to $1,157,000 compared to $995,000 in Q4 2023[29] - The Electronic Instruments segment for the fiscal year 2024 reported a revenue increase of 28.8% to $2,226,000[31] - Electronic Instruments segment revenue rose by 46.4% to $653,000, while Merchant Investment segment revenue decreased by 6.4% to $306,000[29] Margins and Expenses - Gross margin for Q4 2024 improved to 60.0% from 54.9% in Q4 2023, driven by sales of higher margin products[5] - Total expenses for Q4 2024 increased by 36.9% to $912,000 compared to $666,000 in Q4 2023[29] Assets and Liabilities - Total assets increased to $43,145,000 in 2024 from $41,850,000 in 2023, reflecting a growth of 3.1%[27] - Total liabilities rose to $1,905,000 in 2024, up from $1,168,000 in 2023, marking a significant increase of 62.9%[27] Order Backlog and Cash Position - As of December 31, 2024, the order backlog was $336,000, an increase of $193,000 from $143,000 as of December 31, 2023[10] - Cash and cash equivalents and marketable securities totaled $41,602,000 as of December 31, 2024[6] Strategic Initiatives - LGL Group's acquisition of Morgan Group Holding Co. is expected to close in Q2 2025[14] - P3 Logistic Solutions, Inc. was selected as a partner in the DARPA Venture Horizons program to advance defense-related technologies[15] - The company is examining cost efficiencies, including the state of corporate domicile, to enhance operational performance[3] Income from Continuing Operations - Income from continuing operations before income taxes for the fiscal year 2024 was $699,000, an 8.2% increase from $646,000 in 2023[31]