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Nortech Systems Reports Second Quarter Results
Nortech Systems Reports Second Quarter Results MINNEAPOLIS, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Nortech Systems Incorporated (Nasdaq: NSYS) (“Nortech” or the “Company”), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, industrial and defense markets, reported second quarter ended June 30, 2024 financial results. 2024 Q2 Highlights: ●Net sales of $33.9 million ●Net income of $157 thousand, or $0.06 per diluted share ●Adjusted earnings before interest, taxes, depreciation, and amortization (“EB...
Nortech Systems Inc: 1 director bought
A director at Nortech Systems Inc bought 14,636 shares at 6.230USD and the significance rating of the trade was 72/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years cl...
Nortech Systems Reports First Quarter Results
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of full-service electronics manufacturing services (EMS), today reported net sales of $26.4 million for the first quarter ended March 31, 2018, which includes $0.7 million of revenue recognized under new FASB accounting guidelines adopted this fiscal year. On a pro forma basis to adjust for this change in accounting guidance, first quarter sales of $25.7 million increased $0.2 million sequentially from the fourth quarter of 2017 while net sa...
Nortech Systems to Report First Quarter Results May 11
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (NASDAQ: NSYS) will hold a conference call at 10:00 a.m. (CDT) on Monday, May 14, 2018, to discuss the company’s first quarter results, which will be released on May 11. Anyone interested in participating in the conference can access the call by dialing 877-407-0782 from within the United States, or 201-689-8567 if calling internationally. An audio webcast and replay of this conference call can be accessed at the investor relations portion of Nortech Systems’ website...
Nortech Systems Reports 2017 Results
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of full-service electronics manufacturing services (EMS), reported net sales of $112.3 million for the year ended December 31, 2017, compared with $116.6 million for fiscal 2016. The reported fiscal 2017 loss from operations was $1.3 million and includes a year-end goodwill impairment charge of $0.9 million; this compares with operating income of $0.6 million for fiscal 2016. The net loss for fiscal 2017 was $2.4 million, or $0.89 p...
Nortech Systems to Report Fourth Quarter and Year-End Results March 27
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (NASDAQ: NSYS) will hold a conference call at 10:00 a.m. (CDT) on Wednesday, March 28, 2018, to discuss the company’s fourth quarter and year-end results, which will be released after the U.S. stock market closes on March 27. Anyone interested in participating in the conference can access the call by dialing 877-407-0782 from within the United States, or 201-689-8567 if calling internationally. An audio webcast and replay of this conference call can be accessed at ...
Nortech Systems Expanding Mexico Operations
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems (Nasdaq: NSYS), a leading provider of full-service electronics manufacturing services (EMS), has signed a lease for a new facility to be built in Monterrey, Mexico, approximately five miles from the company’s current location. The company plans for occupation during the third quarter of 2018 with the transfer of operations expected by year-end. The Monterrey facility opened in 2001 producing wire harnesses and cable assemblies. The facility’s size, employment and capabilities hav...
Nortech's Intercon 1 Group Expands Existing Manufacturing in China
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of full-service electronics manufacturing services (EMS), announced today that it has expanded capabilities at its manufacturing facility in Suzhou, Jiangsu, China, to support its regional machine vision technology customers. "Given the explosive growth of machine vision, robotics and automation technology manufacturers in Asia, it makes sense for us to expand our regional Intercon 1 manufacturing to support those customers," says R...
Nortech Systems Names Connie Beck Chief Financial Officer
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems (Nasdaq: NSYS), a leading provider of full-service electronics manufacturing services (EMS), has named Connie Beck as vice president and chief financial officer. Along with directing all financial planning and accounting practices, she will oversee Nortech’s relationships with its business partners, the financial community and shareholders. “Connie brings many strengths to our senior management team with her varied experience and talents, including global operations,” says Rich ...
Nortech Systems Reports Third Quarter Results
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Inc. (NASDAQ: NSYS) today reported net sales of $28.3 million for the third quarter ended September 30, compared with net sales of $29.7 million for the third quarter of 2016. For the nine months ended September 30, Nortech’s net sales were $86.8 million, compared with $87.6 million for the same period in 2016. Operating income for the third quarter was $284,000, compared with $190,000 for the third quarter of 2016. For the nine-month period, Nortech reported operating income of ...
Nortech Systems to Report Third Quarter Results November 8
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (NASDAQ: NSYS) will hold a conference call at 10:00 a.m. (CST) on Thursday, November 9, 2017, to discuss the company’s third quarter results, which will be released after the U.S. stock market closes on November 8. Anyone interested in participating in the conference can access the call by dialing 888-567-1602 from within the United States, or 404-267-0373 if calling internationally. An audio webcast and replay of this conference call can be accessed at the investor ...
Nortech Systems Collaborates with Panasonic to Expand Manufacturing Ca...
MINNEAPOLIS & ROLLING MEADOWS, Ill.--(BUSINESS WIRE)-- Nortech Systems and Panasonic have collaborated on a new, total-line-solution installation of integrated hardware and software. It provides enhanced Surface Mount Technology (SMT) component placement capability and quality while increasing efficiency and Statistical Process Control (SPC) at Nortech’s manufacturing facility in Mankato, Minnesota. “This significant investment in Panasonic SMT equipment and PanaCIM® software, along with Koh Young automated 3D optical inspect...
Nortech Systems Announces Stock Repurchase Authorization
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of full-service electronics manufacturing services (EMS), today announced that its board of directors has approved a stock repurchase program under which the company is authorized to repurchase shares of its common stock in an amount up to $250,000 over the next year, in amounts of up to $62,500 per quarter. The repurchases will be made in the open market in compliance with applicable securities laws and other legal requirements and are subj...
Nortech Systems Reports Second Quarter Results
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (NASDAQ: NSYS) today reported net sales of $30.1 million for the second quarter ended June 30, 2017, a four percent increase over net sales of $28.9 million for the second quarter of 2016. For the six months ended June 30, 2017, Nortech Systems’ net sales rose slightly to $58.5 million, up from net sales of $57.9 million for the same period in 2016. For the second quarter of 2017, Nortech Systems reported operating income of $95,000, an improvement of $205,000 compar...
Nortech Systems to Report Second Quarter Results August 9
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (NASDAQ: NSYS) will hold a conference call at 10:00 a.m. (CDT) on Thursday, August 10, 2017, to discuss the company’s second quarter results, which will be released after the U.S. stock market closes on August 9. Anyone interested in participating in the conference can access the call by dialing 866-682-6100 from within the United States, or 862-255-5401 if calling internationally. An audio webcast and replay of this conference call can be accessed at the investor re...
Nortech Systems and Bank of America Merrill Lynch Announce New Commerc...
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of full-service electronics manufacturing services (EMS), today announced it has closed a new credit facility of up to $21 million with Bank of America Merrill Lynch with an additional $20 million accordion feature. “This important agreement is an endorsement of the corporate strategies we outlined at last month’s annual shareholder meeting,” said Rich Wasielewski, Nortech Systems’ president and CEO. “As we have expanded globally to...
Nortech Systems Appoints Chief Operating Officer
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of full-service electronics manufacturing services (EMS), today announced that its board of directors has appointed Matthew Mahmood, 47, as chief operating officer (COO). In this role, Mahmood will be responsible for overseeing all aspects of Nortech’s manufacturing, engineering, global sourcing and business development for its three core markets: medical, industrial and aerospace/defense. This Smart News Release features multimedia. View the...
Nortech Systems Reports First Quarter Results
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of full-service electronics manufacturing services (EMS), today reported net sales of $28.3 million for the first quarter ended March 31, 2017, compared with net sales of $29.0 million for the first quarter of 2016. For the first quarter of 2017, operating income was $120,000, compared with $221,000 for the first quarter of 2016. For the first quarter of 2017, the company reported a net loss of $15,000, or $0.01 per diluted common s...
Nortech Systems to Report First Quarter Results May 11
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (NASDAQ: NSYS) will hold a conference call at 10:00 a.m. (CDT) on Friday, May 12, 2017, to discuss the company’s first quarter results, which will be released after the U.S. stock market closes on May 11. Anyone interested in participating in the conference can access the call by dialing 866-682-6100 from within the United States, or 862-255-5401 if calling internationally. An audio webcast and replay of this conference call can be accessed at the investor relations ...
Nortech Systems Reports Fourth Quarter and Year-End Results
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of full-service electronics manufacturing services (EMS), today reported net sales of $29.0 million for the fourth quarter ended December 31, 2016, compared with net sales of $31.4 million for the fourth quarter of 2015. Net sales for the 2016 fiscal year ended December 31 rose one percent, to $116.6 million, compared with $115.2 million reported for fiscal 2015. For the fourth quarter of 2016, the majority of the revenue decline wa...
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