Communications Systems, Inc. (NASDAQ: JCS) management reported its restructuring plan adopted in September 2013 has improved its cash position.
CFO Edwin C. Freeman said, “The cash position of the company has substantially improved. Cash, cash equivalents, and investments have increased to approximately USD31m at December 31, 2013 (unaudited) from the USD19m reported at September 30, 2013. This is primarily due to collection of a significant amount of JDL´s receivables, largely associated with its South Florida education customers´ revenues of USD18m in the quarter ended September 30, 2013.”
JDL is continuing to provide services to its two principal school accounts in 2014. JDL is also actively pursuing managed service accounts, a new business venture directed at diversifying the revenue base.
Communications Systems provides physical connectivity infrastructure and services for global deployments of broadband networks. With partners and customers in over 50 countries, CSI has built a reputation as a reliable global innovator focusing on quality and customer service.