The LGL Group, Inc. (LGL) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $0.23 million, or $ 0.08 a share in the quarter, against a net loss of $0.14 million, or $0.05 a share in the last year period.
Revenue during the quarter grew 14.56 percent to $5.78 million from $5.04 million in the previous year period. Operating margin for the quarter period stood at positive 0.05 percent as compared to a negative 2.78 percent for the previous year period.
However, the adjusted EBITDA for the quarter stood at $0.32 million compared with $0.14 million in the prior year period. At the same time, adjusted EBITDA margin improved 274 basis points in the quarter to 5.54 percent from 2.80 percent in the last year period.
Commenting on the Company's 2016 results, chairman and chief executive officer, Michael J. Ferrantino, Sr. stated, "All of the arrows in our statement of operations and, for the first time in several years, our balance sheet as well, are pointed north. In addition, our share price from the start of the year to the end of the year moved from $3.70 per share to $5.02 per share, an increase of 35.7%."
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
