Broadband products and services company Communications Systems Inc. said late Tuesday that its fourth-quarter profit slid as revenue declined amid the recession.
For the October-December period, the company earned $1.2 million, or 14 cents per share, down 12 percent from $1.4 million, or 17 cents per share, in the same period a year earlier.
Revenue fell 7 percent to $26.3 million from $28.4 million.
"Despite a severe decline in residential and commercial construction and a global recession ... we reduced the impact to our bottom line through cost controls and other measures," said Jeffrey K. Berg, president and CEO, in a statement.
For the full year, the company earned $6 million, or 72 cents per share, down from a profit of $6.6 million, or 77 cents per share, in 2008.
Revenue fell 11 percent to $109.8 million from $122.7 million.
Shares fell 14 cents to $13.25 in afternoon trading Wednesday.
