Communications Systems, Inc. Reports 2020 Fourth Quarter and Year-End Financial Results
Communications Systems, Inc. (JCS)
Last communications systems, inc. earnings: 7/31 08:00 am
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US:NASDAQ Investor Relations:
commsystems.com/csi/index.php/investor-resources
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Source: Business Wire
Company Also Updates Shareholders on Progress Towards Completing its Previously Announced Merger with Pineapple Energy MINNETONKA, Minn.--(BUSINESS WIRE)--Communications Systems, Inc. (NASDAQ: JCS) (“CSI” or the “Company”), an IoT intelligent edge products and services company, today announced financial results for the fourth quarter and full year (“FY”) ended December 31, 2020.Q4 2020 Financial Highlights vs Q4 2019Q4 2020 consolidated sales from continuing operations decreased by 24% to $11.7 million compared to $15.4 million in Q4 2019, due to lower sales from the Electronics & Software segment compared to Q4 2019 when this segment realized $4.2 million in revenues from a single intelligent transportation project and the continuing impact of project delays driven by COVID-19, partially offset by the increased revenues in the Services & Support segment.Q4 2020 consolidated operating loss from continuing operations was $133,000, compared to Q4 2019 consolidated operating income fr
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