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JCS Merger Prospectus
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Last10K.com | 10-K Annual Report Fri Mar 08 2019
Document and Entity Information - USD ($) | 12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2018 | Mar. 01, 2019 | Jun. 30, 2018 | |
| Document and Entity Information [Abstract] | |||
| Document Type | 10-K | ||
| Amendment Flag | false | ||
| Document Period End Date | Dec. 31, 2018 | ||
| Document Fiscal Period Focus | FY | ||
| Document Fiscal Year Focus | 2018 | ||
| Entity Registrant Name | COMMUNICATIONS SYSTEMS INC | ||
| Entity Central Index Key | 0000022701 | ||
| Current Fiscal Year End Date | --12-31 | ||
| Entity Filer Category | Non-accelerated Filer | ||
| Entity Well-known Seasoned Issuer | No | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | Yes | ||
| Entity Small Business | true | ||
| Entity Shell Company | false | ||
| Entity Emerging Growth Company | false | ||
| Entity Public Float | $ 27,188,000 | ||
| Entity Common Stock, Shares Outstanding | 9,171,913 |
View differences made from one year to another to evaluate Communications Systems Inc's financial trajectory
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Communications Systems Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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- Board Members
- Executive Team
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Financial - Earnings Highlight
Gross margin as a percentage of sales increased to 46% in 2018 from 43% in 2017 due to improved pricing from suppliers.
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Financial - Dividend Highlight
Cash dividends paid on common stock increased slightly to $1,493,000 in 2018 ($0.16 per common share) from $1,458,000 in 2017 ($0.16 per common share).
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Revenue - Product Highlight
International sales accounted for 8% of Suttles 2018 sales and increased 157% compared to 2017 due to the execution of key projects by major service providers in Central America.
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Financial - Earnings Highlight
Gross margin as a percentage of sales increased to 16% in 2018 as compared to 4% in 2017 primarily due to large adjustments in the prior year, including a $417,000 write off of prepaid royalties under a product development agreement and increases to the inventory reserves, driven by Suttles decision to discontinue certain legacy products.
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Financial - Expense Highlight
Selling, general and administrative expenses decreased 11% in 2018 to $1,879,000, or 37% of sales, compared to $2,101,000 in 2017, or 19% of sales due to cost saving measures implemented over the past year.
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Other - Other
Key 2018 Developments At 2018...Read more
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Financial - Earnings
Suttle?s gross margin increased 160%...Read more
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Other - Other
Significant working capital changes from...Read more
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Revenue - Product
Roughly 85% of Transition Networks...Read more
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Revenue - Product
Sales of Ethernet switches and...Read more
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Financial - Expense
Selling, general and administrative expenses...Read more
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Revenue - Product
International sales decreased $1,869,000, or...Read more
-
Financial - Expense
Selling, general and administrative expenses...Read more
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Financial - Shares
Shareholders and the investing public...Read more
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Financial - Income
The Company?s effective income tax...Read more
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Revenue - Product
Net2Edge?s sales increased 58% to...Read more
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Other - Other
JDL Technologies continues to aggressively...Read more
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Other - Other
This strategic, multiyear plan to...Read more
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Financial - Cash Flow
The following table summarizes our...Read more
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Revenue - Product
Sales of media converters decreased...Read more
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Other - Other
Communications Systems, Inc. provides physical...Read more
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Other - Other
The products are sophisticated, carrying...Read more
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Financial - Earnings
JDL gross margin decreased 53%...Read more
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Financial - Earnings
Gross margin decreased 29% to...Read more
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Financial - Expense
Selling, general and administrative expenses...Read more
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Revenue - Product
Suttle sales decreased 28% to...Read more
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Other - Other
The total amount available for...Read more
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Revenue - Product
The following table summarizes JDL?s...Read more
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Financial - Shares
Proceeds from common stock issuances,...Read more
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Other - Other
Net2Edge reported an operating loss...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical)
Consolidated Statements Of Loss And Comprehensive Loss
Cash Equivalents And Investments
Cash Equivalents And Investments (Narrative) (Details)
Cash Equivalents And Investments (Schedule Of Cash Equivalents And Available-For-Sale Securities) (Details)
Cash Equivalents And Investments (Tables)
Commitments And Contingencies
Commitments And Contingencies (Minimum Future Lease Payments) (Details)
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Tables)
Common Stock
Common Stock (Narrative) (Details)
Fair Value Measurements
Fair Value Measurements (Narrative) (Details)
Fair Value Measurements (Schedule Of Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details)
Fair Value Measurements (Tables)
General Commitments
General Commitments (Narrative) (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Narrative) (Details)
Goodwill And Intangible Assets (Schedule Of Estimated Future Amortization Expense) (Details)
Goodwill And Intangible Assets (Schedule Of Finite-Lived Intangible Assets) (Details)
Goodwill And Intangible Assets (Tables)
Income Taxes
Income Taxes (Income Tax (Benefit) Expense By Jurisdiction) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Reconciliation Of Effective Tax Rate, By Percentage) (Details)
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Schedule Of Unrecognized Tax Benefits) (Details)
Income Taxes (Tables)
Information Concerning Industry Segments And Major Customers
Information Concerning Industry Segments And Major Customers (Narrative) (Details)
Information Concerning Industry Segments And Major Customers (Schedule Of Segment Information) (Details)
Information Concerning Industry Segments And Major Customers (Tables)
Inventories
Inventories (Schedule Of Inventories) (Details)
Inventories (Tables)
Property, Plant And Equipment
Property, Plant And Equipment (Schedule Of Property, Plant And Equipment) (Details)
Property, Plant And Equipment (Tables)
Quarterly Operating Results
Quarterly Operating Results (Schedule Of Quarterly Operating Results) (Details)
Quarterly Operating Results (Tables)
Restructuring Charges
Restructuring Charges (Narrative) (Details)
Revenue Recognition
Revenue Recognition (Narrative) (Details)
Revenue Recognition (Schedule Of Disaggregation Of Revenues) (Details)
Revenue Recognition (Schedule Of Impact From Initial Application Period Cumulative Effect Transition) (Details)
Revenue Recognition (Tables)
Stock Compensation
Stock Compensation (Narrative) (Details)
Stock Compensation (Schedule Of Changes In Number Of Outstanding Stock Options Under Director Plan, Stock Plan And 2011 Incentive Plan) (Details)
Stock Compensation (Schedule Of Changes In Restricted Stock Units Outstanding) (Details)
Stock Compensation (Summary Of The Status Of Stock Options Outstanding) (Details)
Stock Compensation (Tables)
Stock Compensation (Valuation Assumptions Of Stock Option Plan) (Details)
Stock-Based Compensation (Schedule Of Changes In The Number Of Deferred Stock Shares Under The Incentive Plan) (Details)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Components Of Accumulated Other Comprehensive Loss) (Details)
Summary Of Significant Accounting Policies (Narrative) (Details)
Summary Of Significant Accounting Policies (Policy)
Summary Of Significant Accounting Policies (Schedule Of Warranty) (Details)
Summary Of Significant Accounting Policies (Tables)
Material Contracts, Statements, Certifications & more
Communications Systems Inc provided additional information to their SEC Filing as exhibits
Exhibit 10.13: Form Of Communications Systems, Inc. Change In Control Agreement For Executives
Exhibit 21: Subsidiaries Of The Registrant
Exhibit 23.1: Consent Of Independent Registered Public Accounting Firm
Exhibit 31.1: Certification Of Chief Executive Officer
Exhibit 31.2: Certification Of Chief Financial Officer
Exhibit 32: Certification Under Usc 1350
Exhibit 99.1: Press Release Dated March 6, 2019
Ticker: JCS
CIK: 22701
Form Type: 10-K Annual Report
Accession Number: 0000897101-19-000179
Submitted to the SEC: Fri Mar 08 2019 11:03:08 AM EST
Accepted by the SEC: Fri Mar 08 2019
Period: Monday, December 31, 2018
Industry: Telephone And Telegraph Apparatus
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