This movement was the second Laco/Timex electromechanical movement, which was used for example in Timex-Electric watches from 1965 on.
Its balance coil was switched by a thin contact, which used to wear out rather fast, and so, only four years later, its successor, Caliber 887 (M87) replaced it.
The second hand jumps in one-second steps, that means, that every sixth balance amplitude, it is driven a bit. Its direct relative, Caliber 880/881 (which uses the same main plate, as you can see on the photo) also features a date mechanism.
In Timex watches, this movement was named M84.
|Number of jewels:||7|
|Balance bearing / direction hairspring:||Bridge|
|Adjust mechanism:||Long regulator arm|
Flume: K3 310|