Note L - Segment Information

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

L. Segment Information

The Company has identified two reportable business segments: electronic instruments, which includes all products manufactured and sold by PTF, and merchant investment, which includes all the income and expenses through its subsidiary Lynch Capital.

Income (loss) from continuing operations before income taxes is equal to revenues, interest income, and investment income (loss) less the manufacturing cost of sales and engineering, selling and administrative expenses. Identifiable assets of the segments are those used in each of their respective operations. Total assets of $41,822,000 includes $23,203,000 for the merchant investment business, $904,000 for the electronic instruments business, and $17,715,000 of corporate assets. Corporate assets include cash and cash equivalents principally invested in highly liquid U.S. Treasury money market funds, other marketable securities, and deferred tax balances.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Revenues
Electronic instruments	$	438		$	344		$	1,282		$	1,131
Merchant investment		287			—			542			—
Corporate		253			(2,069	)		859			(4,392	)
Total revenues, net of investment (loss) income	$	978		$	(1,725	)	$	2,683		$	(3,261	)
Income (loss) from continuing operations before income taxes
Electronic instruments	$	70		$	(39	)	$	164		$	(53	)
Merchant investment		223			—			390			—
Corporate		(94	)		(2,556	)		(265	)		(6,190	)
Income (loss) from continuing operations before income taxes		199			(2,595	)		289			(6,243	)
Income tax expense (benefit)		69			(648	)		132			(1,402	)
Net income (loss) from continuing operations		130			(1,947	)		157			(4,841	)
Income from discontinued operations, net of tax		—			488			—			1,753
Net income (loss)		130			(1,459	)		157			(3,088	)
Less: net income attributable to non-controlling interests		22			—			22			—
Net income (loss) attributable to LGL Group	$	108		$	(1,459	)	$	135		$	(3,088	)