LGL net income up 59% on tax reversal; backlog doubles but cash flow drops 92%

Filed March 30, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 31, 2025 · ~2 min read

Key Changes

• high

  Net income rose 59% to $688k, driven almost entirely by a $683k one-time tax benefit from reversing an uncertain tax position after statute expiration. Excluding this benefit, operating performance would have been weaker year-over-year.

  MD&A: Income Tax Expense verify on EDGAR →
• high

  Order backlog nearly doubled from $336k to $625k, an 86% increase, suggesting strengthening demand for electronic instruments products heading into 2026.

  MD&A: Order Backlog verify on EDGAR →
• high

  Operating cash flow collapsed 92% from $874k to $70k, primarily due to cash payment of the uncertain tax position that was reversed for income statement purposes, creating a timing mismatch between earnings and cash.

  MD&A: Operating Cash Flow verify on EDGAR →