ORLANDO, Fla. – LGL Group, Inc. has released the company’s 2016 full year and quarter financial reports.
The summary of the full year financial results for the year 2016 has revenue reports of 20.9 million dollars which are up to 0.9 percent when compared to the 2015 revenue. The net income is about 0.06 dollars for every share compared to the 0.27 dollars net loss per share last 2015. The order backlog has also improved by 19.9 percent from the 8.8 million dollars last December 2015, making it 10.5 million dollars now.
The adjusted EBITDA has also increased from the 2015’s 0.19 dollars to 0.27 dollars for 2016.
The final quarter of the 2016 financial results has a revenue increase of 14.6 percent from 2015. This means 5.8 million dollars for 2016. The net income has also increased by 0.08 dollars per share compared to the 0.05 dollars net loss in the quarter final of 2015. The adjusted EBITDA for 2016 also increased to 0.12 dollars per share comparing to the 2015 quarter final adjusted EBITDA of 0.05 dollars per share.
Michael J. Ferrantino, Sr., the LGL Group Chairman and CEO, commented on the 2016 financial results of the company. He stated that for the first time in quite several years, the company’s balance sheet and the statement of operation are pointed north.
The share price of the company was 3.70 dollars per share during the start of the year and increased to 5.02 dollars per share at the end of the year. This is about 35.7 rate increase.
LGL Group, Inc. with its principal subsidiaries, the PTF and MtronPTI, is behind the designing, manufacturing, and marketing of highly engineered electronic components used in controlling the frequency and timing of the signals in most electronic circuits.
They also design Frequency and Time reference standards with high performance that forms the basis for the synchronization and timing in some applications.
The company’s headquarters is in Orlando, Florida but they also have other design and manufacturing facilities in places like South Dakota, Massachusetts, Yankton, Wakefield, and in Noida, India. The company also has some sales offices in some places such as California, Austin, Texas, Sacramento, and Hong Kong.
Mr. Ferrantino also added that despite being pleased with the outcome and increase in the company’s share price, he is still not satisfied so the work must be continuous. In closing, he thanked all the shareholders, everyone at LGL Group, and the subsidiaries.
He was also setting a positive attitude and outlook towards the future with the help of the new and the potential shareholders of the company.
