This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

LGL Authorizes Repurchase Of Up To 100,000 Shares

Stocks in this article: LGL

The LGL Group, Inc. (NYSE Amex: LGL) (the “Company”) today announced that its Board of Directors (the “Board”) has authorized the repurchase of up to 100,000 shares of the Company’s common stock, effective immediately. This authorization increased the total number of shares authorized and available for repurchase under the Company’s existing share repurchase program to 540,000 shares, or approximately 21% of the shares outstanding, which is consistent with the Company’s historical practice.

The repurchases will be funded from the Company’s available cash and may be made at the discretion of the Company’s management, in the open market, or in privately negotiated transactions, in accordance with applicable securities laws and regulations. The amount and timing of the repurchases will be based on a variety of factors, including but not limited to the Company’s cash balances, general business and market conditions, and alternative investment opportunities. The share repurchase program does not obligate the Company to repurchase any minimum number of shares and may be commenced, suspended or discontinued at any time or from time to time without prior notice.

“We’re pleased with the decision by our Board and their message of confidence in our operational and financial long-term growth opportunities, as well as this demonstration of our commitment to bring value to stockholders,” said Greg Anderson, LGL’s President and Chief Executive Officer. “We intend to manage our balance sheet wisely in order to create additional stockholder value and to take advantage of strategic growth opportunities to expand our business and to execute on our growth strategy.”

The Company also announced the recent addition of Raj Das, new Director of Strategy and Corporate Development, who joins the team to focus and drive the Company’s strategic growth objectives forward. Mr. Anderson said, “Raj has more than 20 years of experience in investment banking and corporate finance and is a welcome addition to our team as we drive forward to execute on our framework for strategic growth. His initial focus is on the Company’s efforts to create stockholder value through acquisitive growth, as well as the development of joint ventures and marketing partnerships with strategic technology partners.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs