The LGL (LGL) - 2023 Q1 - Quarterly Report

Financial Performance - Total revenues for the three months ended March 31, 2023, were $441,000, reflecting a 5.8$417,000 for the same period in 2022[84]. - Consolidated gross margin increased to 56.5% for the three months ended March 31, 2023, up from 42.0% for the same period in 2022[85]. - The company reported an operating loss of $309,000 for the three months ended March 31, 2023, an improvement from an operating loss of$847,000 for the same period in 2022[87]. - Net income was $157,000 for the three months ended March 31, 2023, compared to$169,000 for the same period in 2022[93]. Income and Expenses - Interest income was $198,000 for the three months ended March 31, 2023, compared to interest expense of$4,000 for the same period in 2022[88]. - Investment income increased to $345,000 for the three months ended March 31, 2023, compared to$45,000 for the same period in 2022[89]. - Total other income was $531,000 for the three months ended March 31, 2023, significantly up from$42,000 for the same period in 2022[90]. Order Backlog and Working Capital - As of March 31, 2023, the order backlog was $399,000, an increase of 10.8$360,000 at December 31, 2022, and an increase of 138.9% compared to $167,000 as of March 31, 2022[83]. - Consolidated working capital was$38.799 million as of March 31, 2023, compared to $38.753 million as of December 31, 2022[96]. Cash Position - Cash and cash equivalents as of March 31, 2023, were$21.5 million, slightly down from $21.507 million as of December 31, 2022[94].