Flash report: The Companys Q4 and 2018 Annual Revenues and Backlog are as follows:
- Revenues for the fourth quarter of 2018 are expected to be approximately $6.4 million vs. $5.7 million reported for the fourth quarter of 2017, and up slightly from revenues of $6.3 million reported in the third quarter of 2018.
- Annual Revenues for 2018 are expected to be approximately $24.8 million vs. $22.4 million reported for 2017, an increase of $2.4 million, or 11%.
- Backlog is anticipated to be around $17.5 million for the fourth quarter of 2018 vs. $11.7 million in the fourth quarter of 2017. Backlog was $16.1 million for the third quarter of 2018.
The Companys Chief Executive Officer, Michael J. Ferrantino, Sr., commented, I would like to thank all of our employees for their hard work and diligence supporting and building our business and for the 11% increase in revenues in 2018. I would also like to thank our shareholders for their continuing support of LGL.
The Company will release its 2018 fourth quarter results after the market close on Wednesday, March 13, 2019. Management will host a conference call on Wednesday, March 13, 2019 at 4:30 p.m. ET to review the Company’s 2018 fourth quarter results.
Participants are invited to access the call by dialing (844) 401-3350 (within the United States), or (248) 847-2523 (international callers) approximately fifteen minutes before the conference start time and provide the conference ID 5281628.
About The LGL Group, Inc.
The LGL Group, Inc., through its two principal subsidiaries MtronPTI and PTF, designs, manufactures and markets highly-engineered electronic components used to control the frequency or timing of signals in electronic circuits, and designs high performance frequency and time reference standards that form the basis for timing and synchronization in various applications.
Headquartered in Orlando, Florida, the Company has additional design and manufacturing facilities in Yankton, South Dakota, Wakefield, Massachusetts and Noida, India, with local sales offices in Hong Kong, Sacramento, California and Austin, Texas.
For more information on the Company and its products and services, contact James Tivy at The LGL Group, Inc., 2525 Shader Rd., Orlando, Florida 32804, (407) 298-2000, or visit www.lglgroup.com and www.mtronpti.com.
Caution Concerning Forward Looking Statements
This press release may contain forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can be identified by the use of words such as may, will, expect, project, estimate, anticipate, plan, believe, potential, should, continue or the negative versions of those words or other comparable words. These forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to us and our current plans or expectations, and are subject to a number of uncertainties and risks that could significantly affect current plans, anticipated actions and our future financial condition and results. Certain of these risks and uncertainties are described in greater detail in our filings with the Securities and Exchange Commission. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.