EX-99.5
7
ex995to8k8k03725_06192007.htm
sec document
Exhibit 99.5
LGL GROUP AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET (UNAUDITED)
MARCH 31, 2007
(IN THOUSANDS)
As Reported Pro Forma
Assets Total Pro Forma Total
Current Assets 03/31/07 Adjustments 03/31/07
------------- ------------ ----------
Cash and cash equivalents $ 4,662 $ 1,841 $ 6,503
Restricted cash 1,196 (869) 327
Investments - Marketable Securities 55 55
Trade accounts receivables, gross 7,642 (293) 7,349
Allowance for doubtful accounts (1,111) (1,111)
Trade accounts receivables, net 6,531 (293) 6,238
Unbilled accounts receivable 227 227
Inventories 8,012 (2,042) 5,970
Prepaid expenses and other current assets 497 497
TOTAL CURRENT ASSETS 21,180 (363) 20,817
PROPERTY, PLANT AND EQUIPMENT
Land 855 855
Buildings and improvements 5,770 5,770
Machinery and equipment 15,401 (120) 15,281
Less: accumulated depreciation (15,521) (15,521)
NET PROPERTY, PLANT AND EQUIPMENT 6,505 (120) 6,385
DEFERRED INCOME TAXES 111 111
OTHER ASSETS 439 439
-------- -------- --------
TOTAL ASSETS $ 28,235 $ (1,483) $ 26,752
======== ======== ========
As Reported Pro Forma
LIABILITIES AND SHAREHOLDERS' EQUITY Total Pro Forma Total
CURRENT LIABILITIES: 03/31/07 Adjustments 03/31/07
------------- ------------ ----------
Notes payable to banks $ 1,930 $ 1,930
Trade accounts payable 2,217 (193) 2,024
Accrued income taxes 38 38
Accrued expenses 2,960 (290) 2,670
Customer advances 684 684
Current maturities of long-term debt 1,833 1,833
TOTAL CURRENT LIABILITIES 9,663 9,663
Long-Term Debt 2,987 2,987
TOTAL LIABILITIES 12,650 (483) 12,167
Shareholders' Equity
Common stock 22 22
Additional paid-in capital 21,102 21,102
Accumulated deficit - prior period (5,712) (5,712)
Current net Income (loss) 474 474
Accumulated other comprehensive Income 346 346
Treasury stock (646) (646)
TOTAL SHAREHOLDERS' EQUITY 15,585 (1,000)(1) 14,585
-------- -------- --------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 28,235 $(1,483) $ 26,752
======== ======== ========
(1) Represents loss on sale of Lynch Systems, Inc.

EX - 99 . 5 7 ex995to8k8k03725 _ 06192007 . htm sec document Exhibit 99 . 5 LGL GROUP AND SUBSIDIARIES CONSOLIDATING BALANCE SHEET ( UNAUDITED ) MARCH 31 , 2007 ( IN THOUSANDS ) As Reported Pro Forma Assets Total Pro Forma Total Current Assets 03 / 31 / 07 Adjustments 03 / 31 / 07 ------------- ------------ ---------- Cash and cash equivalents $ 4,662 $ 1,841 $ 6,503 Restricted cash 1,196 ( 869 ) 327 Investments - Marketable Securities 55 55 Trade accounts receivables , gross 7,642 ( 293 ) 7,349 Allowance for doubtful accounts ( 1,111 ) ( 1,111 ) Trade accounts receivables , net 6,531 ( 293 ) 6,238 Unbilled accounts receivable 227 227 Inventories 8,012 ( 2,042 ) 5,970 Prepaid expenses and other current assets 497 497 TOTAL CURRENT ASSETS 21,180 ( 363 ) 20,817 PROPERTY , PLANT AND EQUIPMENT Land 855 855 Buildings and improvements 5,770 5,770 Machinery and equipment 15,401 ( 120 ) 15,281 Less : accumulated depreciation ( 15,521 ) ( 15,521 ) NET PROPERTY , PLANT AND EQUIPMENT 6,505 ( 120 ) 6,385 DEFERRED INCOME TAXES 111 111 OTHER ASSETS 439 439 -------- -------- -------- TOTAL ASSETS $ 28,235 $ ( 1,483 ) $ 26,752 = = = = = = = = = = = = = = = = = = = = = = = = As Reported Pro Forma LIABILITIES AND SHAREHOLDERS ' EQUITY Total Pro Forma Total CURRENT LIABILITIES : 03 / 31 / 07 Adjustments 03 / 31 / 07 ------------- ------------ ---------- Notes payable to banks $ 1,930 $ 1,930 Trade accounts payable 2,217 ( 193 ) 2,024 Accrued income taxes 38 38 Accrued expenses 2,960 ( 290 ) 2,670 Customer advances 684 684 Current maturities of long - term debt 1,833 1,833 TOTAL CURRENT LIABILITIES 9,663 9,663 Long - Term Debt 2,987 2,987 TOTAL LIABILITIES 12,650 ( 483 ) 12,167 Shareholders ' Equity Common stock 22 22 Additional paid - in capital 21,102 21,102 Accumulated deficit - prior period ( 5,712 ) ( 5,712 ) Current net Income ( loss ) 474 474 Accumulated other comprehensive Income 346 346 Treasury stock ( 646 ) ( 646 ) TOTAL SHAREHOLDERS ' EQUITY 15,585 ( 1,000 ) ( 1 ) 14,585 -------- -------- -------- TOTAL LIABILITIES AND SHAREHOLDERS ' EQUITY $ 28,235 $ ( 1,483 ) $ 26,752 = = = = = = = = = = = = = = = = = = = = = = = = ( 1 ) Represents loss on sale of Lynch Systems , Inc .