<SEC-DOCUMENT>0000061004-13-000123.txt : 20131113
<SEC-HEADER>0000061004-13-000123.hdr.sgml : 20131113
<ACCEPTANCE-DATETIME>20131113172134
ACCESSION NUMBER:		0000061004-13-000123
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20131113
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20131113
DATE AS OF CHANGE:		20131113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LGL GROUP INC
		CENTRAL INDEX KEY:			0000061004
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPONENTS, NEC [3679]
		IRS NUMBER:				381799862
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00106
		FILM NUMBER:		131215699

	BUSINESS ADDRESS:	
		STREET 1:		2525 SHADER ROAD
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32804
		BUSINESS PHONE:		(407) 298-2000

	MAIL ADDRESS:	
		STREET 1:		2525 SHADER ROAD
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32804

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LYNCH CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>lgl8k_20131113.htm
<DESCRIPTION>LGL 8-K 20131113
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">UNITED STATES</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Washington, D.C. 20549</div>

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<div style="FONT-SIZE: 16pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">FORM 8-K</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">CURRENT REPORT</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Pursuant to Section 13 or 15(d) of the<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> Securities Exchange Act of 1934</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">Date of report (Date of earliest event reported): <font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><u>November 13, 2013</u></font></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">THE LGL GROUP, INC.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">(Exact Name of Registrant as Specified in Charter)</div>
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<div>&#160;</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">Delaware</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">1-106</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">38-1799862</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">(State or Other Jurisdiction<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> of Incorporation)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">(Commission<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> File Number)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">(IRS Employer<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> Identification No.)</div>
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<div>&#160;</div>
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<div>&#160;</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2525 Shader Road, Orlando, FL</div>
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<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; WIDTH: 33.31%">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">32804</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">(Address of Principal Executive Offices)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">(Zip Code)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">Registrant's Telephone Number, Including Area Code: <font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><u>(407) 298-2000</u></font></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">(Former Name or Former Address, If Changed Since Last Report)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">see</font> General Instruction A.2. below):</div>

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<td style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; WIDTH: auto">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</td>
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<td style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; WIDTH: auto">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</td>
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<td style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; WIDTH: auto">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</td>
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<td style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; WIDTH: auto">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</td>
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<div>&#160;</div>

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<td style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; WIDTH: 72pt; align: right">Item 2.02.</td>
<td style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; WIDTH: auto">Results of Operations and Financial Condition.</td>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The information contained in Item 7.01 is incorporated by reference into this Item 2.02.</div>

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<td style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; WIDTH: 72pt; align: right">Item 7.01.</td>
<td style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; WIDTH: auto">Regulation FD Disclosure.</td>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">On November 13, 2013, The LGL Group, Inc. (the "Company") issued a press release (the "Press Release") announcing its financial results for the three and nine months ended September 30, 2013, and other financial information.&#160;&#160;A copy of the Press Release is attached hereto as <font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><u>Exhibit 99.1</u></font> and is incorporated herein by reference.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The information furnished pursuant to this Current Report on Form 8-K, including the exhibit hereto, shall not be considered "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended, or under the Exchange Act, unless the Company expressly sets forth in such future filing that such information is to be considered "filed" or incorporated by reference therein.</div>

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<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Item 9.01.</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Financial Statements and Exhibits.</font></div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif">(d)</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 5.14pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Exhibits</font></div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Description</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">99.1</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 84.2%">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Press Release dated November 13, 2013.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SIGNATURES</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">November 13, 2013</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 59.33%" colspan="3">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">THE LGL GROUP, INC.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">By:</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">/s/ James L. Williams</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 9.4%">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Name:</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">James L. &#160;Williams</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 9.4%">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Title:</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">Corporate Controller</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 18pt">EXHIBIT INDEX</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Description</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">99.1</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 85.12%">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Press Release dated November 13, 2013.</div>
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<DOCUMENT>
<TYPE>EX-99.1
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<FILENAME>lgl8k_20131113_exh99.1.htm
<DESCRIPTION>EXHIBIT 99.1 PRESS RELEASE
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">The LGL Group, Inc. Reports Third Quarter 2013 Financial Results</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">ORLANDO, FL, November 13, 2013 &#8211; The LGL Group, Inc. (NYSE MKT: LGL) (the "Company"), announced results for the three and nine months ended September 30, 2013.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">Total revenues for the quarter ended September 30, 2013, were approximately $6,098,000, a decrease of 16.5% compared to revenues of $7,307,000 for the same period in 2012. &#160;The Company reported a net loss of ($1,199,000), or ($0.46) per share, for the quarter ended September 30, 2013, compared with a net loss of ($314,000), or ($0.12) per share, for the same period in 2012. &#160;The increase in net loss is primarily attributed to the decline in revenues. Stock-based compensation expense was $135,000, or $0.05 per share, for the quarter ended September 30, 2013, compared to $92,000, or $0.04 per share, for the same period in 2012.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">Total revenues for the nine months ended September 30, 2013, were approximately $20,461,000, a decrease of 7.3% compared to revenues of $22,063,000 for the same period in 2012. The Company reported a net loss of ($6,246,000), or loss per share of ($2.40), for the nine months ended September 30, 2013, compared with a net loss of ($1,122,000), or loss per share of ($0.43), for the same period in 2012. &#160;Pre-tax net loss for the nine months ended September 30, 2013 was ($2,324,000), or ($0.89) per share, compared to pre-tax net loss of ($1,646,000), or ($0.63) per share for the same period in 2012.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">The decrease in revenues for the three and nine months ended September 30, 2013, was primarily due to reduced demand from existing clients in our Internet Communications Technology ("ICT") market segment, offset by growth in our Aerospace and Defense ("Aero/Defense") market segment.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify"><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif">Gross margin for the third quarter 2013, was 22.4%, compared to 24.5% for the comparable period in 2012. </font>The decrease in gross margin was primarily due to a 16.5% decline in revenues from the comparable period in 2012. Gross margin for the nine months ended September 30, 2013, improved to 27.2%, compared to 24.5% for the same period in 2012.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">As of September 30, 2013, the Company's order backlog was $8,446,000, which was a decrease of 6.9% compared to the backlog as of June 30, 2013, which was $9,070,000.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">Cash and cash equivalents increased $299,000 to $7,912,000, or $3.04 per share, as of September 30, 2013, compared to $7,613,000, or $2.93 per share, as of June 30, 2013, due primarily to strong collection of receivables and a reduction in inventory during third quarter 2013. &#160;Cash-adjusted working capital, which is comprised of accounts receivable plus inventory less trade accounts payable improved by $981,000 to $6,565,000, or $2.53 per share, at September 30, 2013 compared to $7,546,000, or $2.91 per share, as of June 30, 2013.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">LGL's President and Chief Executive Officer, Greg Anderson, said, "While business results for Q3 were lackluster, mirroring the industry, feedback on our engineering investments continues to be positive, showing the potential to create future growth. &#160;We also generated positive cash from operations as we manage through this business cycle. &#160;Our customer positions have strengthened, which we expect will benefit our ability to leverage our platform in the mid to long-term."</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Strategic Review Process Ongoing, Company Initiates Restructuring Plan</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">Since first announced on June 13, 2013, the Company has been conducting a strategic review of opportunities that are economically attractive to stockholder value creation, including joint ventures, selective acquisitions, divestitures, segmentation or discontinuation of certain elements of operations, and strategic restructuring efforts to gain efficiencies and unlock value. &#160;In this context, a warrant dividend was also distributed to stockholders on August 6, 2013, as a way to return a portion of the Company's future value to stockholders. &#160;As part of finalizing the initiatives of the strategic review committee, the Company announced on October 7, 2013, that Michael Ferrantino, Sr., had joined the Company as Executive Vice Chairman of the Board of Directors, and as Executive Chairman of MtronPTI.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">Mr. Anderson said, "As 2013 has unfolded, we have seen competitive strength in Aero/Defense, but challenges remain to reposition for growth and to size our client support efforts overall. &#160;In this context, we are pleased that Mr. Ferrantino has joined LGL to bring the benefit of his leadership and experience in leading high-tech companies, especially in frequency control, RF/microwave and integrated assemblies."</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">The Company today announced that on October 17, 2013, management initiated a restructuring plan to realign its customer support operations across all of the Company's locations with a target of reducing structural costs by at least 10% in an effort to gain efficiencies. &#160;Implementation is anticipated to be largely completed during the fourth quarter of 2013, with related expenses expected to result in a one-time charge during the fourth quarter of between $600,000 and $800,000, of which between approximately $250,000 and $325,000, respectively, will be non-cash.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">Mr. Anderson said, "We see this strategic restructuring plan as the best near-term option to reduce the Company's breakeven level and capitalize on the investments that we've made in new product development. &#160;Although we expect the remainder of the year will be challenging, we believe these changes will be the start of continuous improvement as investments begin to show the probability of future return. &#160;We remain committed to making focused investments in these areas as we remain focused on positioning LGL for profitable growth."</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">2013 Annual Meeting Date Set for December 12, 2013, 9:00 a.m. ET</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">The Company also announced that its 2013 Annual Meeting of Stockholders (the "2013 Annual Meeting") will be held on Thursday, December 12, 2013, at 9:00 a.m. ET, at The Union League Club, 38 E. 37<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Street, New York, NY, 10016. &#160;The record date for stockholders to receive notice of, and to vote at, the 2013 Annual Meeting was October 30, 2013. &#160;Stockholders are cordially invited to attend the meeting in person to meet with management to discuss recent results and current business activities. &#160;The agenda will be as follows:</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Conference Call Scheduled for Thursday, November 14, 2013, at 10:00 A.M. ET</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">An investor conference call is scheduled for Thursday, November 14, 2013, at 10:00 a.m. ET. &#160;The purpose of the call is to discuss the Company's third quarter 2013 earnings results, current business activities and strategy.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify"><font style="FONT-WEIGHT: normal">Participants are invited to "attend" the online meeting using Conferencing Center LIVE; or access the conference call </font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">at (800) 895-1085 for domestic callers</font> <font style="FONT-WEIGHT: normal">and </font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">(785) 424-1055 for international callers. &#160;</font><font style="FONT-WEIGHT: normal">The participant code is LGLIR1112.</font></div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">To attend the event, participants are asked to click on the following link: <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif"><u>Join the meeting.</u></font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif"> &#160;</font>Participants may also copy and paste the following information into their web browser: <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif"><u>https://www.livemeeting.com/cc/conferencingevent/join</u></font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif"><u>.</u></font></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">The meeting ID is: LGLIR1112; the entry code is: ATTEND.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">About The LGL Group, Inc.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">The LGL Group, Inc., through its wholly-owned subsidiary MtronPTI, manufactures and markets highly-engineered electronic components used to control the frequency or timing of signals in electronic circuits. &#160;These devices are used extensively in electronic systems for military applications, avionics, earth-orbiting satellites, medical devices, instrumentation, industrial devices and global positioning systems, as well as in infrastructure equipment for the telecommunications and network equipment industries. &#160;The Company has operations in Orlando, Florida, Yankton, South Dakota, Yantai, China, and Noida, India, and sales offices in Hong Kong and Shanghai, China.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">For more information on the Company and its products and services, contact LaDuane Clifton at The LGL Group, Inc., 2525 Shader Rd., Orlando, Florida 32804, (407) 298-2000, or visit the Company's Web site: <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif"><u>www.lglgroup.com</u></font>.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Caution Concerning Forward Looking Statements</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">This document includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. &#160;These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. &#160;Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. &#160;More detailed information about those factors is contained in The LGL Group's filings with the U.S. Securities and Exchange Commission.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">R. LaDuane Clifton, The LGL Group, Inc.</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: left"><u>lclifton@lglgroup.com</u></div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">(407) 298-2000</div>

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</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif"><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">6,098</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">7,307</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">20,461</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">22,063</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 52%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 5.05pt; MARGIN-RIGHT: 5.05pt; TEXT-INDENT: -5.05pt">Cost and Expenses:</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 52%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 4.85pt; MARGIN-RIGHT: 5.05pt">Manufacturing cost of sales<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">4,731</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">5,514</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">14,904</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">16,666</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 52%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 4.85pt; MARGIN-RIGHT: 5.05pt">Engineering, selling and administrative</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">2,548</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">2,249</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">7,834</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">6,944</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 52%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 5.05pt; MARGIN-RIGHT: 5.05pt; TEXT-INDENT: -5.05pt">OPERATING LOSS<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(1,181</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(456</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(2,277</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(1,547</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 52%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 5.05pt; MARGIN-RIGHT: 5.05pt; TEXT-INDENT: -5.05pt">Other Expense:</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 52%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 4.85pt; MARGIN-RIGHT: 5.05pt">Interest expense, net<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(4</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(23</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(33</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(78</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 52%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 4.85pt; MARGIN-RIGHT: 5.05pt">Other income (expense), net<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(14</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">18</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(14</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(21</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 52%" valign="bottom">
<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">&#160;&#160;&#160;Total Other Expense</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 5.02pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(18</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(5</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(47</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(99</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 52%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 5.05pt; MARGIN-RIGHT: 5.05pt; TEXT-INDENT: -5.05pt">LOSS BEFORE INCOME TAXES<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(1,199</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(461</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(2,324</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(1,646</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 52%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 5.05pt; MARGIN-RIGHT: 5.05pt; TEXT-INDENT: -5.05pt">Income tax (provision) benefit<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif">&#8212;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">147</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(3,922</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">524</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 52%" valign="bottom">
<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-RIGHT: 5.05pt">NET LOSS<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(1,199</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(314</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(6,246</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(1,122</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 52%" valign="bottom">
<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 5.05pt; MARGIN-RIGHT: 5.05pt; TEXT-INDENT: -5.05pt">Weighted average number of shares used in basic and diluted net loss per common share calculation<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">.</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">2,595,385</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">2,593,760</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">2,598,609</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">2,596,280</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 52%" valign="bottom">
<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 5.05pt; MARGIN-RIGHT: 5.05pt; TEXT-INDENT: -5.05pt">BASIC AND DILUTED NET LOSS PER COMMON SHARE</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(0.46</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(0.12</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(2.40</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">(0.43</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">)</div>
</td>
</tr>
</table>

<div><br>
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<hr id="DSPFPageBreak" style="HEIGHT: 2px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; WIDTH: 100%" noshade="noshade">
</div>

<div><br>
</div>

<div><br>
</div>

<div style="MARGIN-BOTTOM: 6pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">THE LGL GROUP, INC.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font>CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font></font><br>
</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(Dollars in Thousands)</div>

<table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px" valign="bottom">
<div>&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">September 30,</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2013</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">December 31, 2012</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">ASSETS</div>
</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 15pt; MARGIN-RIGHT: 5.05pt">Cash and cash equivalents<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">7,912</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">8,625</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 14.25pt; MARGIN-RIGHT: 12.6pt">Restricted cash<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">1,500</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">1,500</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 14.25pt; MARGIN-RIGHT: 12.6pt">Accounts receivable, less allowances of $60 and $79, respectively</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">3,278</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">4,350</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 14.25pt; MARGIN-RIGHT: 5.05pt">Inventories, net<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">4,825</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">5,349</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 14.25pt; MARGIN-RIGHT: 5.05pt">Deferred taxes, net<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">&#8212;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">1,114</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 14.25pt; MARGIN-RIGHT: 5.05pt">Prepaid expenses and other current assets<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">332</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">665</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 30.95pt; MARGIN-RIGHT: 5.05pt">Total current assets<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">17,847</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">21,603</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 5.05pt; MARGIN-RIGHT: 5.05pt; TEXT-INDENT: -5.05pt">&#160;&#160;&#160;&#160;Property, plant and equipment, net<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">4,377</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">4,707</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-RIGHT: 5.05pt">&#160;&#160;&#160;&#160;Other assets, net<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">400</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">3,283</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-RIGHT: 5.05pt; TEXT-INDENT: 13.5pt">Total assets<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">22,624</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">29,593</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 5.05pt; MARGIN-RIGHT: 5.05pt; TEXT-INDENT: -5.05pt">LIABILITIES AND STOCKHOLDERS' EQUITY</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 13.5pt; MARGIN-RIGHT: 5.05pt">Note payable to bank<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">1,086</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">1,249</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 13.5pt; MARGIN-RIGHT: 5.05pt">Accounts payable<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">1,538</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">2,452</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 13.5pt; MARGIN-RIGHT: 5.05pt">Other current liabilities<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">1,307</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">1,278</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 13.5pt; MARGIN-RIGHT: 5.05pt">Total Liabilities<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">3,931</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">4,979</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 13.5pt; MARGIN-RIGHT: 5.05pt">Stockholders' Equity<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">18,693</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">24,614</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 76%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-RIGHT: 5.05pt; TEXT-INDENT: 13.5pt">Total Liabilities and Stockholders' Equity<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">22,624</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; WIDTH: 1%" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">$</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 9%" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif">29,593</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; WIDTH: 1%" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: left"><br>
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<div><br>
</div>

<div><br>
</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image00002.jpg
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