13 slides from Lgl Group, Inc. (the)'s earnings presentation, Mar 29, 2012
Slide 1: The LGL Group, Inc. Q4 2011 Earnings Report
The LGL Group, Inc. (AMEX: LGL) Q4 2011 Earnings Report March 29, 2012 - 10:00 a.m. ET
Slide 2: Safe Harbor Statement
Safe Harbor Statement This document includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results ma
Slide 3: Agenda
Introduction Business Highlights Financial Highlights Market Outlook Question and Answer Agenda
Slide 4: FY 2011 Results
FY 2011 Results * Revenues of $35.7M, down 23.5% compared to 2010 ¢ Gross margin of 30.2%, a 4.8 percentage point decrease compared to 2010 due to lower revenues * Pre-tax diluted earnings per share of $0.22 ¢ EBITDA margin of 4.2% * Generated $2.3M cash from operations * Customer positions remain s
Slide 5: Q4 2011 Results
Q4 2011 Results Revenues of $7.4M, down 32.9% compared to Q4 2010 New orders soft for both the Telecom and MISA market segments Backlog at end of Q4 2011 of $8.6M, compared to $9.1M at end of Q3 2011 Gross margin of 27.9%, a 3.8 percentage point decrease compared to Q4 2010 Business Highlights
Slide 6: Working through the cycle toward growth
Working through the cycle toward growth Major customers reporting market softness Repeat orders from existing contracts sluggish Semi-conductor industry predicting revenue growth in H2 2012 Solid working capital position Strong design backlog for engineering Outlook for 2012
Slide 7: Financial Highlights: Quarterly Income Statement Trends
Financial Highlights Quarterly Income Statement Trends S125 s124 10.0% 0% (10.0%) 12009 22009 32009 Q42009 Q12010 Q22010 A32010 42010 Qi2011 Q22011 32011 a42011 WmmRevenue | ee Gross Margin se@emESITDA Margin * Decrease in revenue was the primary driver of lower gross margins, which also impacted EB
Slide 8: Financial Highlights: Order Backlog
Financial Highlights Order Backlog ($000’s) 14,000 12,000 : 10,000 8,000 5 6,000 iad 4,000 2,000 1.2003 Q22009 32009 A42009 Qi 2010 22010 A32010 Q42010 Q12011 Q22011 32011 a4 2011 14,373 11,973 10,734 12,238 3,29 8,634 Modest decrease in order backlog due to reduced order activity for the Telecom an
Slide 9: Financial Highlights: Capital Position
Financial Highlights Capital Position as of December 31, 2011 Total Assets $ 32.4M Net Working Capital 18.1M Cash Adjusted Working Capital 8.2M Cash and Cash Equivalents 13.7M Total Debt 3.4M Shareholder’s Equity 25.6M Available Lines of Credit $ 2.4M Working capital increased to $18.1M as compared
Slide 10: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of GAAP net income to non-GAAP pre-tax earnings Computation of Adjusted Working Capital: . . Asof Asof (000's, except per share amounts) 2011 (000's) 12/31/2010 12/31/2011 Net Income (GAAP) $ 382 Accounts receivable,net $ 5,782 $ 4,309 Income tax (bene
Slide 11: The Next Cycle: Aligned to 4G
The Next Cycle: Aligned to 4G Telecom 4G / LTE growth robust 1600 s1.400M Leap Wireless $1.200M | MetroPCS * Carrier competitive demand * Shift to smart phones * Tablets always wireless ready US Cellular $1,000M $800 amid "Sprint 400M - TMobile USA => Primary internet connection is wireless 4s a som
Slide 12: Laying the Foundation for Profitable Growth
Laying the Foundation for Profitable Growth Significantly improved capital structure during 2011 * Achieved profitability, solid cashflow from operations * Strong balance sheet, positioned to weather the cycle * Growth opportunities in both timing and filters * Manufacturing cost advantages for MISA
Slide 13: Visit us:
13 Visit us: www.lglgroup.com www.mtronpti.com Contact us: Greg Anderson, President and CEO (e-mail: ganderson@lglgroup.com) LaDuane Clifton, Chief Accounting Officer (e-mail: Iclifton@lglgroup.com) Voice: (407) 298-2000 Question and Answer