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Nortech Systems Inc (NSYS) delivers specialized electronics manufacturing services for mission-critical industries. This news hub provides investors and industry professionals with essential updates on corporate developments, technical innovations, and market positioning.
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Nortech Systems Incorporated (NASDAQ: NSYS) will host a live conference call on May 11, 2023, at 4:00 p.m. central time to discuss its first-quarter financial results. This call will feature CEO Jay Miller and CFO Chris Jones. Interested participants can join by calling 877-545-0523 for US or 973-528-0016 for international access, using Participant Access Code: 629822, or via webcast at here. Nortech Systems focuses on engineering and manufacturing solutions for complex electromedical and electromechanical products serving various markets, including medical, aerospace & defense, and industrial. The company operates from multiple locations in the U.S., Latin America, and Asia.
Nortech Systems reported a 6.4% increase in fourth-quarter revenue for 2022, totaling $35.6 million, and a 16.5% growth in annual revenue, reaching $134.1 million. Gross margin rose to 14.3%, up 6.3 percentage points from the prior year, contributing to a significant EBITDA turnaround from a loss to a profit of $1.2 million in Q4. The company's backlog also grew by 9.6% to $104 million as of Dec. 31, 2022. While operating expenses increased by 22.6% year-over-year due to R&D and sales engineering investments, management remains optimistic about growth and improved operations.
Nortech Systems Incorporated (NASDAQ: NSYS), a provider of engineering and manufacturing solutions for complex electromedical and electromechanical products, will hold a conference call on March 17, 2023, at 8:00 a.m. Central Time to discuss its fourth quarter financial results. Hosted by CEO Jay Miller and CFO Chris Jones, participants can join via phone or webcast. Nortech Systems serves the medical, aerospace & defense, and industrial markets, with design services ranging from concept development to commercial design. The company is headquartered in Maple Grove, Minn., and operates seven manufacturing locations across the U.S., Latin America, and Asia.
Nortech Systems (NSYS) reported a strong Q3 2022 with revenue of $35.3 million, reflecting a 19.8% increase from Q3 2021. The gross margin improved to 17.9%, a rise of 6.5 percentage points. EBITDA surged to $2.4 million, tripling from $0.7 million in the prior year. Although net income decreased to $1.5 million or $0.53 per share, primarily due to prior non-recurring items, the backlog expanded by over 31% to $103 million. Management remains optimistic about sustained growth despite monitoring macroeconomic conditions.
Nortech Systems (NASDAQ: NSYS) will host a live conference call at 4:00 p.m. CT on November 10, 2022, to discuss its third quarter financial results. The call will feature Jay Miller, CEO, and Chris Jones, CFO. Participants can join by calling 888-506-0062 for US attendees or 973-528-0011 internationally, with the Access Code: 776272. Additionally, the call will be available via webcast at Nortech's webcast.
Nortech Systems, traded as NSYS, announced the issuance of Patent No. 11,412,608 for its Flex Faraday Xtreme™. This flexible printed circuit improves signal transmission while minimizing electromagnetic interference. The FFX technology is designed for complex devices in medical, industrial, and defense sectors and represents a pivotal move towards advanced assembly solutions. Although the FFX adoption will ramp up through 2023, it will not materially affect Nortech's financial results in 2022 or 2023.
Nortech Systems Incorporated (NSYS) reported a strong performance in Q2 2022, with revenue reaching $32.5 million, a 7.7% increase compared to Q2 2021. Gross profit saw a significant growth of 39.6% to $5 million, yielding a gross margin of 15.4%. EBITDA surged to $1.5 million, marking a 71.5% increase from the previous year. The company reported a net income of $720,000, a 303.7% increase from Q2 2021. The shipping backlog improved by 50% to $106.2 million, signaling strong demand across all markets.
Nortech Systems Incorporated (NASDAQ: NSYS), a provider of engineering and manufacturing solutions for complex electromagnetic products, will hold a conference call on August 10, 2022, at 4:00 p.m. CT to discuss its second quarter financial results. The call will feature CEO Jay Miller and CFO Chris Jones. Participants can join via phone or webcast. Nortech operates in the medical, aerospace, and industrial sectors, offering design and manufacturing capabilities across multiple locations in the U.S., Latin America, and Asia.