Communications Systems, Inc. (JCS) financial statements (2022 and earlier)

Company profile

Business Address 10900 RED CIRCLE DRIVE
MINNETONKA, MN 55343
State of Incorp. MN
Fiscal Year End December 31
SIC 3661 - Telephone and Telegraph Apparatus (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,62615,85223,37811,05617,99416,24915,041
Cash and cash equivalents3,49113,09213,92911,05612,45410,4439,813
Short-term investments1352,7599,450 5,5415,8055,229
Restricted cash and investments  679    
Receivables1,80210,17710,24213,40112,18314,55217,849
Inventory, net of allowances, customer advances and progress billings1958,6978,53116,17613,98422,20524,986
Inventory1958,6978,53116,17613,98422,20524,986
Prepaid expense336731484941,4002,972
Assets held-for-sale, not part of disposal group  5,337    
Other current assets9029961,1611,5548119671,041
Total current assets:6,52835,75849,40242,33545,46655,37361,890
Noncurrent Assets
Property, plant and equipment1417,2428,23810,96212,62515,71917,468
Other noncurrent assets13,40512,5561,51124552,0858,558
Total noncurrent assets:13,54619,7989,74910,98612,68017,80426,026
TOTAL ASSETS:20,07455,55659,15153,32158,14673,17787,916
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,8576,21710,04111,6408,96011,36814,896
Accounts payable7982,3783,7205,3954,5556,9548,373
Accrued liabilities341,5252,6033,1681,5861,8521,997
Employee-related liabilities1,0242,2983,5172,8922,4222,1503,051
Interest and dividends payable 162001853974131,475
Deferred revenue636457 
Debt  116   104
Disposal group, including discontinued operation  1,193    
Other undisclosed current liabilities1187640   442
Total current liabilities:2,6107,43811,35011,6408,96011,36815,441
Noncurrent Liabilities
Long-term debt and lease obligation50197244    
Operating lease, liability50197244
Liabilities, other than long-term debt396427164284160290
Deferred revenue396310 
Deferred compensation liability, classified 116164    
Deferred tax liabilities, net  5361
Liability for uncertainty in income taxes   284107103
Liability, pension and other postretirement and postemployment benefits      126
Other undisclosed noncurrent liabilities    1116 
Total noncurrent liabilities:4476244082815176290
Total liabilities:3,0568,06211,75811,6688,97611,54415,732
Stockholders' equity
Stockholders' equity attributable to parent17,01847,49547,39241,65349,17161,63372,185
Common stock486466463458449444438
Additional paid in capital44,87943,57242,97842,68042,00741,27940,129
Accumulated other comprehensive income (loss)2(679)(698)(751)(613)(687)(666)
Retained earnings (accumulated deficit)(28,349)4,1354,649(734)7,32920,59632,284
Total stockholders' equity:17,01847,49547,39241,65349,17161,63372,185
TOTAL LIABILITIES AND EQUITY:20,07455,55659,15153,32158,14673,17787,916

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues7,01042,57650,90665,76382,32399,353107,670
Revenue, net82,32399,353107,670
Cost of revenue(4,576)(25,369)(28,720)(44,456)(61,486)(72,771)(76,123)
Cost of goods and services sold(4,576)(25,369)(28,720)(44,456)   
Other undisclosed gross profit     (1)(0)
Gross profit:2,43417,20622,18621,30720,83626,58131,546
Operating expenses(10,605)(19,904)(22,177)(27,865)(32,601)(35,186)(40,830)
Other operating expense, net
(Other Nonrecurring (Income) Expense)
      (1,222)
Other undisclosed operating income     4,1480
Operating income (loss):(8,172)(2,697)9(6,558)(11,765)(4,457)(10,506)
Nonoperating income (expense)18922226172(95)(3,400)104
Investment income, nonoperating     209216
Foreign currency transaction loss, before tax     (4,238) 
Interest and debt expense(8)(29)(38)(38)(71)(120)(120)
Income (loss) from continuing operations before equity method investments, income taxes:(8,162)(1,804)197(6,425)(11,932)(7,976)(10,522)
Other undisclosed income from continuing operations before income taxes829383871120120
Income (loss) from continuing operations before income taxes:(8,154)(1,775)235(6,386)(11,860)(7,857)(10,402)
Income tax expense (benefit)(25)(20)15(405)35(257)753
Income (loss) from continuing operations:(8,178)(1,796)251(6,792)(11,826)(8,114)(9,648)
Income from discontinued operations11,1521,6246,218    
Net income (loss) available to common stockholders, diluted:2,974(172)6,469(6,792)(11,826)(8,114)(9,648)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):2,974(172)6,469(6,792)(11,826)(8,114)(9,648)
Other comprehensive income     4,148 
Comprehensive income (loss):2,974(172)6,469(6,792)(11,826)(3,966)(9,648)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent6811954(138)73(4,168)29
Comprehensive income (loss), net of tax, attributable to parent:3,655(153)6,523(6,930)(11,752)(8,134)(9,620)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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