THE LGL GROUP, INC. (LGL)
The LGL Group, Inc., incorporated in 1928, is a holding company with subsidiaries engaged in manufacturing electronic components. The Company operates through its principal subsidiary, M-tron Industries, Inc., which includes the operations of M-tron Industries, Ltd. (Mtron), and Mtron’s subsidiaries Piezo Technology, Inc. and Piezo Technology India Private Ltd (jointly PTI). The combined operations of Mtron and PTI are referred to as MtronPTI.
MtronPTI manufactures and markets electronic products, which are used to control the frequency or timing of signals in electronic circuits. Its devices, which are commonly called frequency control devices, are used extensively in infrastructure equipment for the telecommunications and network equipment industries. Its devices are also used in electronic systems for military applications, avionics, earth orbiting satellites, medical devices, instrumentation, industrial devices and global positioning systems. MtronPTI’s frequency control devices consist of packaged quartz crystals, crystal oscillators and electronic filters.
MtronPTI’s products are frequency control devices, including packaged quartz crystals, oscillators incorporating those crystals and electronic filter products. MtronPTI designs and produces a range of packaged quartz crystals, quartz crystal based oscillators and electronic filter products. The Packaged Crystal is a single crystal in a hermetically sealed package and is used by electronic equipment manufacturers, along with their own electronic circuitry, to build oscillators for frequency control in their electronic devices. The Voltage Controlled Crystal Oscillator (VCXO) is a variable frequency oscillator whose frequency could be changed by varying the control voltage to the oscillator. The Temperature Compensated Crystal Oscillator (TCXO) is a stable oscillator designed for use over a range of temperatures. Oven-Controlled Crystal Oscillators are designed to produce stability over a range of operating conditions with very low phase noise. The Electronic Filters use either crystal technology or precise manufacturing of inductive/capacitive circuits to provide filters with defined capabilities to filter out unwanted portions of a timing signal.
MtronPTI’s products are employed in numerous applications within the communications industry, including computer and telephone network switches, high-speed gigabit Ethernet, modems, wireless transmitters/receivers, multiplexers, data recovery/regeneration devices, fiber channel networks, repeaters, data transceivers, line interface devices, communications satellites, and base station controllers. Its products are incorporated into the products, which serves all elements of the communication industry.
The crystals, oscillators and filters intended for non-communications applications are found in military applications for remote sensing, personnel protection and armaments. Avionics applications include ground and flight control systems. Industrial applications are in security systems, metering systems, electronic test instruments and industrial control systems. MtronPTI’s products are also used in medical instrumentation applications, as well as in computer peripheral equipment, such as storage devices, printers, modems, monitors, video cards and sound cards.
MtronPTI’s timing module, an electronic subsystem, is a pre-assembled circuit that integrates several different functions into a small, single, self-contained module for control of timing in a circuit. The timing modules are used for the synchronization of timing signals in digital circuits, particularly in wireless and optical carrier network systems.
The Company competes with Vectron International, CTS Corporation, K&L and Saronix.
» Analyst Consensus
Market Cap (Mil.): $59.14
Shares Outstanding (Mil.): 2.25
Annual Dividend: 0.00
Yield (%): NA
LGL Industry Sector
P/E (TTM): 22.68 11.31 21.24
EPS (TTM): 222.91 -- --
ROI: 20.73 5.34 3.52
ROE: 24.21 5.92 6.08
Source: The Equities Group, Inc.