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Having Successfully Come Through The Recession Of 2009 And Turned Things Around, The LGL Group, Inc. Is Focused On Being The Leading Supplier In The Frequency Control And Timing Device Market Serving OEMs Across North America And The World

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Technology - Scientific & Technical Instruments
About: The LGL Group, Inc. (LGL-AMEX)

2525 Shader Road, Orlando, FL 32804
Phone: 407-298-2000

Company Profile:

The LGL Group, Inc., through its wholly-owned subsidiary MtronPTI, manufactures and markets highly-engineered electronic components used to control the frequency or timing of signals in electronic circuits. These devices are used extensively in infrastructure equipment for the telecommunications and network equipment industries, as well as in electronic systems for military applications, avionics, earth-orbiting satellites, medical devices, instrumentation, industrial devices and global positioning systems. The Company has operations in Orlando, Florida, Yankton, South Dakota and Noida, India. MtronPTI also has sales offices in Hong Kong and Shanghai, China.

President & Chief Executive Officer | Greg Anderson

In July of 2009, Mr. Anderson was appointed President and Chief Executive Officer of The LGL Group, Inc., the (“Company”). He joined MtronPTI, the Company’s operating subsidiary, in 2001 as Site General Manager and Vice President of Manufacturing and Supply Chain.
Mr. Anderson has over twenty years of experience in high-tech manufacturing businesses, which includes both low volume/high mix OEM custom products coupled with experience gained in high volume/low cost consumer products. He also brings considerable international experience to the Company, including Asian
sales, sourcing and supply chain development and management.
Mr. Anderson earned his Bachelor of Arts degree in Chemistry and Mathematics from Jamestown College and his Master of Science degree in Chemical Engineering from the University of North Dakota. Prior to joining MtronPTI in 2001, he held positions with 3M Corporation/Imation Corporation, including Operations Manager, Plant Manager and Business Development Manager.

In addition to the above, Mr. Anderson is Chief Executive Officer and Chairman of the Board of Directors of the LGL Group’s subsidiary companies including M-tron Industries, Ltd., Piezo Technology, Inc. and Piezo Technology India Private Ltd.


Interview conducted by: Lynn Fosse, Senior Editor,, Published – January 7, 2011

Mr. Anderson, what was the original vision for The LGL Group, and what is the vision today?

Mr. Anderson: The original vision of The LGL Group was to become a leading supplier into the frequency control and timing device markets that services major OEMs around the world. It was our challenge in 2009 to turn the company during the recession into a viable, financially robust enterprise that can grow with our blue-chip customers. With a great deal of effort and modest market recovery, the management team successfully met that challenge with strong results in 2010.


We have returned to robust growth and strong profitability, and have greatly improved our customer service. In addition, we have launched two new technical platforms that were well received in the market. Again, 2010 has been a wonderful turn-around year for the LGL Group.


CEOCFO: What are you actually providing?

Mr. Anderson: We provide what are called frequency control products – “smart” devices that are used in electronic systems to help synchronize communications. These types of components are found in both low-end applications like cell phones, telephone handsets or PDAs. However, our products are highly-engineered and would more typically be found in the backbone communications infrastructure or in high reliability applications. Demand for our products is driven by the need for more bandwidth; when more bandwidth is needed for consumer and commercial level products, it has to go through our types of devices to coordinate and control that sort of inter-connectivity and higher level of information flow.


CEOCFO: Why are companies choosing LGL products?

Mr. Anderson: First, we are a critical supplier to a number of major OEMs in both the telecommunications and military sectors. For example, our blue-chip customer base includes telecommunications infrastructure companies like Cisco and Ericsson, among others, and military communications companies like Harris RF Communications and Rockwell Collins. We are often a preferred supplier because of our long-standing customer relationships, and because of our ability to provide a broad product offering.


Second, customers choose LGL products because we are known for our ability to build high reliability precision devices. As more frequencies and greater amounts of information are moved through the communication networks, the need for more precise devices that are extremely reliable grows. Customers come to us because of our ability to engineer precision devices and provide solutions to their technical roadblocks.

CEOCFO: Are these customized products or do you maintain an inventory of a certain type of products?

Mr. Anderson: Our products are engineered for specific applications for our major OEM customers. We enable their systems. We ourselves are not market makers, but we do provide highly-engineered components that are critical to the proper functioning of these systems.

CEOCFO: What is the competitive landscape?

Mr. Anderson: There is a fairly large number of competitors in this industry, but it is fragmented in terms of size – some smaller, some larger, some the same size. There are several large Japanese national
companies that participate across the whole field of the frequency control market, companies like Epson-Toyocom, and Kyocera. All three of those are large market players and provide both consumer-level devices as well as precision instrumentation. In the North American market, one of our largest competitors is Vectron International, which is a division of Dover Corporation. Vectron is bigger than us, but head-to-head we often have an edge. Then there are a number of smaller players. Frankly, we are probably one of the larger suppliers in the precision device sector of the North American market.


CEOCFO: How did you take up that challenge; how did you accomplish the increase in revenue?
Mr. Anderson: Frankly, we had a couple of new product offerings. I mentioned those earlier and they were two new leading edge technology programs. One is a very precise timing device used in a positioning application for a military program. The other one is an advanced filtering technology used in the public safety sector. In both cases, OEM customers approached us with a problem: they needed a frequency control solution to enable some technology for new platforms they were developing. Our engineering and operational teams went to work on that and we successfully brought those products to market, which provided substantial revenue and helped us gain market share in 2010.


CEOCFO: Do you typically develop new products based on customer requests or are you working on innovative products as well on the other end?

Mr. Anderson: Our product development is primarily driven by our customer needs. We engage them on product and technology roadmaps, and oftentimes there has been an overlap between what we see as leading-edge technology and their needs. From that point, they approach us, and we approach them saying that we have the potential for that technology and essentially we work together to develop it.


CEOCFO: Are there particular trends in the industry?

Mr. Anderson: Everything is going to higher frequency with more precise communication and that is all about providing more bandwidth, so that is the trend. It does not really matter if it is in a commercial, military or avionics applications.

CEOCFO: Where do you manufacture?

Mr. Anderson: We have a fairly broad and worldwide platform to work from. We have U.S. manufacturing locations in Orlando, Florida, which is also has our largest engineering center; and a small manufacturing facility and engineering center in South Dakota. We have our own manufacturing facility in New Delhi, India, and we use contract factories in Asia as well to produce some of our products. The relationships with our contract factories are long-standing relationships, some of which we have had for more than twenty years.


CEOCFO: You opened a Shanghai office recently; what is the geographic reach for your customers?

Mr. Anderson: We need to be worldwide, because many of our customers are. The Asian market is certainly blooming. The Shanghai sales office has applications, engineers and sales engineers who service the OEMs and the Asian market. As those OEMs are building equipment, they need timing devices and we approach them. In addition, our existing customer base has established sales, research, engineering and manufacturing operations in mainland China: some in Shanghai, some in Beijing, and other places


CEOCFO: Do you do much investor outreach?

Mr. Anderson: We are now getting that agenda in full gear. It has been a big turnaround story in 2010. We have had revenue growth, we have had new products, good profits, and as we look to grow the platform and go forward, we recognize the need to put more focus on investor relations and have more contact with our investors. Therefore, we are beginning to take steps in that direction. We are considering speaking at some conferences, and we have certainly reached out, gotten to know some of our primary investors more closely and shared the vision of the company with them. Last week, we had our annual stockholder meeting in New York City, which was well attended. We had the chance to answer a wide number of questions from the audience. Many investors showed up and many of them brought very good questions.


CEOCFO: Is the investment community in general starting to pay attention?

Mr. Anderson: I believe so, judging by the number of phone calls and contacts. Certainly we are in the micro-cap space within the tech market, and with the company’s performance the stock price has followed. As a result, it has caught the eye of a number of investors, and investment banking firms and analysts. We are beginning to do a number of short interviews with those folks to help them come along in the LGL story and understand the real strengths of the platform.

CEOCFO: What should we expect in the next year or so from The LGL Group?

Mr. Anderson: Growth. Now that the company has turned around, returned to profitability, gotten its base platform functioning, and introduced some new products, we intend to invest in the platform and fuel more growth. We have a great technical base, and we have a wide number of very solid customers, so we would like to bring them more products. In addition, we are looking at a number of strategic options for The LGL platform. Certainly, we are going to reinvest organically into the business because we think we can extend our lines with some organic engineering investments. We will take a look at some strategic items as well, things like joint ventures or mergers and acquisitions that we feel have the synergy and the growing potential that we have achieved this year to really keep the growth curve moving ahead.


CEOCFO: You mentioned earlier that the market was fragmented; are there a number of small players that you might want to acquire?

Mr. Anderson: The answer to that is yes. There are a number of frequency control companies that are our size, or smaller, that lend themselves to some consolidation in the industry. That is certainly an opportunistic view from our perspective. If we think there are good candidates, and we do, then that will certainly be under consideration.


CEOCFO: In closing, why should potential investors pick The LGL Group out of the crowd?

Mr. Anderson: Wonderful platform, good technology, strong brand in the marketplace, solid cash-generating business and positioned for continued growth.


Any reproduction or further distribution of this article without the express written consent of is prohibited.


Tech Stock, Technology Stock, Scientific & Technical Instruments, components used to control the frequency or timing of signals in electronic circuits,Business Services, Information Technology, Innovation Services, Financial Services,
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The original vision of The LGL Group was to become a leading supplier into the frequency control and timing device markets that services major OEMs around the world. It was our challenge in 2009 to turn the company during the recession into a viable, financially robust enterprise that can grow with our blue-chip customers. With a great deal of effort and modest market recovery, the management team successfully met that challenge with strong results in 2010. 


We have returned to robust growth and strong profitability, and have greatly improved our customer service. In addition, we have launched two new technical platforms that were well received in the market. Again, 2010 has been a wonderful turn-around year for the LGL Group. - Gregory P. Anderson does not purchase or make
recommendation on stocks based on the interviews published.

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