Revenue during the quarter dropped 17.78 percent to $22.76 million from $27.68 million in the previous year period. Gross margin for the quarter contracted 256 basis points over the previous year period to 25.25 percent. Operating margin for the quarter stood at negative 8.30 percent as compared to a negative 12.75 percent for the previous year period.

Operating loss for the quarter was $1.89 million, compared with an operating loss of $3.53 million in the previous year period.

CSI's chief executive officer Roger H.D. Lacey commented, "While overall results were disappointing, we did see significant progress in sectors all across the Company. For example, Transition Networks returned to profitability, with $2.1 million operating income in the second half of the year, led by increases in new product revenue, which increased to $10 million for the year. JDL Technologies continued its strong performance within its educational business, increasing operating income by $700,000. While Suttle continued to incur losses, it is committed to continued restructuring, expense reduction and refocusing of its business on Tier2/3 and Contractor/Installer customers, as well as Tier 1 customers. Pricing and cost levels will be a key focus in 2017 and our recent announcement of the closing of our Costa Rica facility demonstrates our renewed focus on underutilized assets. We believe our balance sheet remains strong and that we have the cash and human capital resources to complete our business transformations and return to profitability in due course."