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Communications Systems Q2 Net Income Decreases
Wednesday, August 12, 2009 7:55 AM


(Source: Datamonitor)trackingCommunications Systems, a provider of physical connectivity infrastructure and services for broadband solutions, has posted a net income of $1.75 million, or $0.21 per diluted share, for the second quarter ended June 30, 2009, compared to $2.26 million, or $0.26 per diluted share, in the comparable period in 2008.

Sales in the 2009 second quarter decreased 9% to $28.58 million compared to $31.29 million for the same period in 2008.

For the first half of 2009, the company has posted a net income of $2.97 million, or $0.36 per diluted share, compared to $2.45 million, or $0.28 per diluted share, in the same period of 2008. For the six months ended June 30, 2009, consolidated sales decreased 10% to $55.35 million, compared to $61.61 million for the same period in 2008.

Jeffrey Berg, president and CEO of Communications Systems (CSI), said: "During these difficult economic times I am pleased with the performance of CSI and our business units' teams. While the worldwide economic downturn in general, and the decline in construction and housing markets in particular, provided many challenges for our business, our operating income for the second quarter and six months ended June 30, 2009 exceeded our internal forecast.

"In addition, even though we expect difficult market conditions for the remainder of the year, our financial strength will enable us to continue making strategic investments for future sales growth and increased profitability at each of our businesses."

A service of YellowBrix, Inc.



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