Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Computing
Conference & Expo
November 2-4, 2009 NYC
Register Today and SAVE !..

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
SYS-CON.TV
LGL Reports Third Quarter 2012 Financial Results

The LGL Group, Inc. (NYSE Amex: LGL) (the “Company”), announced results for the three and nine months ended September 30, 2012.

Total revenues for the three months ended September 30, 2012, were approximately $7,307,000, a decrease of 24.1% compared to revenues of $9,629,000 for the comparable period in 2011. The Company reported a net loss of ($314,000), or diluted loss per share of ($0.12), for the three months ended September 30, 2012, compared with net income of $91,000, or earnings per share of $0.03, for the same period in 2011.

Total revenues for the nine months ended September 30, 2012, were approximately $22,063,000, a decrease of 22.0% compared to revenues of $28,295,000 for the comparable period in 2011. The Company reported a net loss of ($1,122,000), or diluted loss per share of ($0.43), for the nine months ended September 30, 2012, compared with net income of $678,000, or earnings per share of $0.26, for the same period in 2011.

The decrease in revenues for first nine months of 2012 was primarily due to reduced demand from existing customers for existing products in our Internet Communications Technology (“ICT”), and Military, Aeronautics and Instrumentation (“Mil/Aero”) market segments, which was driven by continuing delays in ICT infrastructure spending and the effects of uncertainty related to government budget and spending cycles.

Greg Anderson, LGL’s President and Chief Executive Officer, said, “The prevailing macroeconomic weakness continues to impact our results, but our position with our major OEM customers remains strong. We have continued to improve our cost structure which expands the operating leverage that our business will have once the business cycle turns. Our balance sheet remains strong, enabling us to weather the cycle and pursue growth opportunities.”

The decrease in net income was a direct result of the decrease in revenues, which also reduced gross margin to 24.5% for the first nine months of 2012, compared to 30.8% for the same period in 2011, which was the result of spreading fixed infrastructure costs over a smaller revenue base. The decrease in net income was offset by a reduction in administrative expenses and public company costs of approximately $691,000, or 9.1%, for the first nine months of 2012 compared to the same period in 2011.

The Company’s order backlog at September 30, 2012, was $8,745,000, which was a 4.1% decrease compared to the backlog of $9,119,000 at September 30, 2011, and an 8.2% decrease compared to the backlog of $9,526,000 at June 30, 2012. Mr. Anderson said, “Although there was a modest decline in our backlog as of the end of the quarter, quote and engineering activity levels remain high, particularly with our Mil/Aero and Instrumentation customers. The work we’re doing today has the potential to bring new product revenue in future quarters. Our development focus remains on applications that support 3G/4G/LTE wireless infrastructure, microwave radio internet data backhaul and radios for public service, military and avionics.”

Investor’s Conference Call Scheduled for Tuesday, November 13, 2012, at 10:00 a.m. ET

An investor conference call is scheduled for Tuesday, November 13, 2012 at 10:00 a.m. ET. The purpose of the call is to discuss the Company’s third quarter 2012 earnings results, current business activities and strategy. The Company’s President and Chief Executive Officer, Greg Anderson, will host the audio event.

Presentation materials will be available on the LGL website by 6:00 p.m. ET on Monday, November 12: www.lglgroup.com.

Participants are invited to “attend” the online meeting using Conferencing Center LIVE; or access the conference call at (800) 895-0198 for domestic callers and (785) 424-1053 for international callers. The participant code is LGLIR1113.

To attend the event, participants are asked to click on the following link: Join the meeting. Participants may also copy and paste the following information into their web browser: https://www.livemeeting.com/cc/conferencingevent/join.

The meeting ID is: LGLIR1113; the entry code is: ATTEND.

About The LGL Group, Inc.

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. These devices are used extensively in infrastructure equipment for the telecommunications and network equipment industries. They are also used in electronic systems for military applications, avionics, earth-orbiting satellites, medical devices, instrumentation, industrial devices and global positioning systems. The Company has operations in Orlando, Florida, Yankton, South Dakota and Noida, India. MtronPTI also has sales offices in Hong Kong and Shanghai, China.

For more information on the Company and its products and services, contact R. LaDuane Clifton, Chief Accounting Officer, The LGL Group, Inc., 2525 Shader Rd., Orlando, Florida 32804, (407) 298-2000, or visit the Company’s Web site: www.lglgroup.com.

Caution Concerning Forward Looking Statements

This document includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. More detailed information about those factors is contained in The LGL Group’s filings with the U.S. Securities and Exchange Commission.

   

THE LGL GROUP, INC.

Condensed Consolidated Statements of Operations - UNAUDITED

(Dollars in Thousands, Except Per Share Amounts)

 
Three Months Ended

September 30,

Nine Months Ended

September 30,

2012   2011 2012   2011
 
REVENUES $ 7,307   $ 9,629   $ 22,063   $ 28,295  
Cost and expenses:
Manufacturing cost of sales 5,514 6,930 16,666 19,591
Engineering, selling and administrative   2,249     2,577     6,944     7,635  
Total Cost and Expenses   7,763     9,507     23,610     27,226  
OPERATING INCOME (LOSS) (456 ) 122 (1,547 ) 1,069
Total Other Expense   (5 )   (31 )   (99 )   (58 )
INCOME (LOSS) BEFORE INCOME TAXES (461 ) 91 (1,646 ) 1,011
Income tax benefit (provision)   147         524     (333 )

NET INCOME (LOSS)

$ ( 314 ) $ 91   $ (1,122 ) $ 678  

Weighted average number of shares used in basic and diluted EPS calculation.

  2,593,760     2,609,334     2,596,280     2,569,717  

BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE

$ (0.12 ) $ 0.03   $ (0.43 ) $ 0.26  
 
   

THE LGL GROUP, INC.

Condensed Consolidated Balance Sheets – UNAUDITED

(Dollars in Thousands)

 

September 30,
2012

December 31,
2011 (A)

ASSETS
Cash and cash equivalents $ 9,484 $ 13,709
Restricted cash 1,500 --
Accounts receivable, less allowances of $99 and $131, respectively 4,049 4,309
Inventories, net 5,434 5,676
Deferred income taxes 960 960
Prepaid expenses and other current assets   289   292
Total current assets   21,716   24,946
Property, plant and equipment, net 4,822 4,530
Other assets   3,439   2,945
Total assets $ 29,977 $ 32,421
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities $ 5,320 $ 6,828
Long-term debt, net of current portion   --   --
Total Liabilities   5,320   6,828
Stockholders’ Equity   24,657   25,593
Total Liabilities and Stockholders’ Equity $ 29,977 $ 32,421
 

(A) The Condensed Consolidated Balance Sheet as of December 31, 2011, has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

About Business Wire
Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

SOA World Latest Stories
More and more enterprises today are doing business by opening up their data and applications through APIs. Though forward-thinking and strategic, exposing APIs also increases the surface area for potential attack by hackers. To benefit from APIs while staying secure, enterprises and se...
Many cloud hosting providers have achieved ticket-of-entry credibility in the data warehousing industry by building simple colocation centers. A first-tier database as a service (DBaaS) contender, however, is set apart by a value-added service approach that is strategic, consultative a...
Maintaining lower development environments can become an unbearable headache. Changes to an application, service or API are seldom completely testable, leaving us to discover broken code when it’s too late. This lack of visibility into application dependencies severely limits early cod...
In this report Enterprise Management Associates (EMA) analysts explore the ways in which gaining visibility and control over high-privilege access helps organizations achieve regulatory compliance, assure responsible governance, and improve security all while reducing IT operational co...
SYS-CON Events announced today that ActiveState, providers of Stackato, the platform for the agile enterprise, has been named “Silver Sponsor” of SYS-CON's 2nd DevOps Summit, which will take place on June 10–12, 2014, at the Javits Center in New York City, New York. ActiveState believ...
VASCO Data Security International, Inc., has announced on Tuesday that it will release its Q1 2014 results on Thursday, April 24th. On April 24, at 10.00 am EDT/16.00 CET, VASCO will hold a conference call, which will be streamed on the VASCO website. Mr. T. Kendall Hunt, Chairman an...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021


SYS-CON Featured Whitepapers
ADS BY GOOGLE