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LGL Group Q1 loss narrows YOY

The LGL Group Inc. said its first-quarter normalized net income came to a loss of 4 cents per share, compared with a loss of 4 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $105,630, compared with a loss of $111,250 in the prior-year period.

The normalized profit margin declined to negative 2.2% from negative 2.1% in the year-earlier period.

Total revenue declined 12.0% on an annual basis to $4.8 million from $5.4 million, and total operating expenses fell 11.6% on an annual basis to $4.9 million from $5.6 million.

Reported net income totaled a loss of $126,000, or a loss of 5 cents per share, compared to a loss of $178,000, or a loss of 7 cents per share, in the year-earlier period.