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Note 17 - Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Quarterly Financial Information [Text Block] | 17. Quarterly Financial Data (Unaudited) The following table provides summarized quarterly financial data for the year ended December 31, 2023:
|  | Three months ended
(in thousands, except share data) |  | March 31, 2023 |  | June 30, 2023 |  | September 30, 2023 |  | December 31, 2023
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 441 |  |  | $ | 403 |  |  | $ | 438 |  |  | $ | 446 |
Net investment income |  |  | 198 |  |  |  | 275 |  |  |  | 544 |  |  |  | 549 |
Net gains (losses) (a) |  |  | 345 |  |  |  | 43 |  |  |  | (4 | ) |  |  | — |
Total revenues |  |  | 984 |  |  |  | 721 |  |  |  | 978 |  |  |  | 995 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing cost of sales |  |  | 192 |  |  |  | 208 |  |  |  | 195 |  |  |  | 201 |
Engineering, selling and administrative |  |  | 542 |  |  |  | 645 |  |  |  | 584 |  |  |  | 465 |
Total expenses |  |  | 734 |  |  |  | 853 |  |  |  | 779 |  |  |  | 666 |
Income (loss) from continuing operations before income taxes |  |  | 250 |  |  |  | (132 | ) |  |  | 199 |  |  |  | 329 |
Income tax expense (benefit) |  |  | 65 |  |  |  | (2 | ) |  |  | 69 |  |  |  | 169 |
Net income (loss) from continuing operations |  |  | 185 |  |  |  | (130 | ) |  |  | 130 |  |  |  | 160 |
Loss from discontinued operations, net of tax |  |  | (28 | ) |  |  | — |  |  |  | — |  |  |  | — |
Net income (loss) |  |  | 157 |  |  |  | (130 | ) |  |  | 130 |  |  |  | 160 |
Less: Net income attributable to non-controlling interests |  |  | — |  |  |  | — |  |  |  | 22 |  |  |  | 26 |
Net income (loss) attributable to LGL Group common stockholders |  | $ | 157 |  |  | $ | (130 | ) |  | $ | 108 |  |  | $ | 134 |
Income (loss) per common share attributable to LGL Group common stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic (b): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations |  | $ | 0.03 |  |  | $ | (0.02 | ) |  | $ | 0.02 |  |  | $ | 0.03 |
Loss from discontinued operations |  |  | (0.01 | ) |  |  | — |  |  |  | — |  |  |  | — |
Net income (loss) attributable to LGL Group common stockholders |  | $ | 0.03 |  |  | $ | (0.02 | ) |  | $ | 0.02 |  |  | $ | 0.03 |
Diluted (b): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations |  | $ | 0.03 |  |  | $ | (0.02 | ) |  | $ | 0.02 |  |  | $ | 0.02 |
Loss from discontinued operations |  |  | (0.01 | ) |  |  | — |  |  |  | — |  |  |  | — |
Net income (loss) attributable to LGL Group common stockholders |  | $ | 0.03 |  |  | $ | (0.02 | ) |  | $ | 0.02 |  |  | $ | 0.02 |
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 5,352,937 |  |  |  | 5,352,937 |  |  |  | 5,352,937 |  |  |  | 5,352,937 |
Diluted |  |  | 5,352,937 |  |  |  | 5,352,937 |  |  |  | 5,355,006 |  |  |  | 5,381,685 |
(a) | During Q1 and Q2 2023, the net gains primarily relate to the sale of our investments in mutual funds managed by GAMCO Investors, Inc.
(b) | Basic and diluted earnings per share are calculated using actual, unrounded amounts. Therefore, (i) the components of earnings per share may not sum to its corresponding total or (ii) the quarterly earnings per share may not sum to the earnings per share on the Consolidated Statements of Operations.
The following table provides summarized quarterly financial data for the year ended December 31, 2022:
|  | Three months ended
(in thousands, except share data) |  | March 31, 2022 |  | June 30, 2022 |  | September 30, 2022 |  | December 31, 2022
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 417 |  |  | $ | 370 |  |  | $ | 344 |  |  | $ | 524 |
Net investment (loss) income |  |  | (3 | ) |  |  | 10 |  |  |  | 54 |  |  |  | 352 |
Net gains (losses) (a) |  |  | 45 |  |  |  | (2,373 | ) |  |  | (2,121 | ) |  |  | (298 | )
Total revenues |  |  | 459 |  |  |  | (1,993 | ) |  |  | (1,723 | ) |  |  | 578 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing cost of sales |  |  | 242 |  |  |  | 227 |  |  |  | 203 |  |  |  | 165 |
Engineering, selling and administrative |  |  | 1,022 |  |  |  | 623 |  |  |  | 669 |  |  |  | 576 |
Total expenses |  |  | 1,264 |  |  |  | 850 |  |  |  | 872 |  |  |  | 741 |
Loss from continuing operations before income taxes |  |  | (805 | ) |  |  | (2,843 | ) |  |  | (2,595 | ) |  |  | (163 | )
Income tax benefit |  |  | (166 | ) |  |  | (588 | ) |  |  | (611 | ) |  |  | (164 | )
(Loss) income from continuing operations |  |  | (639 | ) |  |  | (2,255 | ) |  |  | (1,984 | ) |  |  | 1 |
Income from discontinued operations, net of tax |  |  | 808 |  |  |  | 457 |  |  |  | 488 |  |  |  | 132 |
Net income (loss) |  |  | 169 |  |  |  | (1,798 | ) |  |  | (1,496 | ) |  |  | 133 |
Less: Net income attributable to non-controlling interests |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income (loss) attributable to LGL Group common stockholders |  | $ | 169 |  |  | $ | (1,798 | ) |  | $ | (1,496 | ) |  | $ | 133 |
Income (loss) per common share attributable to LGL Group common shareholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic (b): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Loss) income from continuing operations |  | $ | (0.12 | ) |  | $ | (0.42 | ) |  | $ | (0.37 | ) |  | $ | 0.00 |
Income from discontinued operations |  |  | 0.15 |  |  |  | 0.09 |  |  |  | 0.09 |  |  |  | 0.02 |
Net income (loss) attributable to LGL Group common stockholders |  | $ | 0.03 |  |  | $ | (0.34 | ) |  | $ | (0.28 | ) |  | $ | 0.02 |
Diluted (b): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Loss) income from continuing operations |  | $ | (0.12 | ) |  | $ | (0.42 | ) |  | $ | (0.37 | ) |  | $ | 0.00 |
Income from discontinued operations |  |  | 0.15 |  |  |  | 0.09 |  |  |  | 0.09 |  |  |  | 0.02 |
Net income (loss) attributable to LGL Group common stockholders |  | $ | 0.03 |  |  | $ | (0.34 | ) |  | $ | (0.28 | ) |  | $ | 0.02 |
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 5,323,973 |  |  |  | 5,334,187 |  |  |  | 5,346,043 |  |  |  | 5,349,187 |
Diluted |  |  | 5,345,202 |  |  |  | 5,334,187 |  |  |  | 5,346,043 |  |  |  | 5,356,188 |
(a) | During Q2 and Q3, the net losses primarily related to our equity position in IronNet, Inc.
(b) | Basic and diluted earnings per share are calculated using actual, unrounded amounts. Therefore, (i) the components of earnings per share may not sum to its corresponding total or (ii) the quarterly earnings per share may not sum to the earnings per share on the Consolidated Statements of Operations.

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