The LGL Group, Inc. announced its financial results for the first quarter ended March 31, 2025. Total revenues increased by $30,000 to $918,000 for the three months ended March 31, 2025, compared to $888,000 in the prior year, primarily due to higher shipments in the Electronic Instruments segment.
Despite the revenue increase, the company reported a net loss available to common stockholders of ($6,000) for Q1 2025, a decrease from a net income of $21,000 in Q1 2024. This decline was mainly due to lower net investment income on U.S. Treasury money market funds and higher professional service fees.
In a separate development, Michael J. Ferrantino, Jr. and Timothy Foufas will not stand for re-election to the Board of Directors at the upcoming Annual Meeting of Stockholders on June 2, 2025. Their decision is driven by an intention to dedicate greater focus to launching the previously announced Connectivity Partnership.
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