Nortech Systems swings to $637K profit in Q3 2026
Nortech's $92.8 million total backlog was 20% above the September 2025 level, led by Aerospace & Defense and Industrial markets.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Nortech Systems reported third-quarter 2026 net sales of $33.047 million, up 8.4% from $30.482 million a year earlier, and net income of $637,000 versus a $146,000 loss. Diluted earnings were $0.21 per share compared with a $0.05 loss per diluted share. Gross profit was $5.872 million, up 16.9%, while Adjusted EBITDA was $1.955 million, up 56.0% from $1.253 million.
At September 30, 2026, total backlog was $92.8 million, 20% above September 30, 2025; 90-day backlog was $31.5 million versus $31.3 million. For the nine months ended September 30, 2026, net sales were $96.903 million versus $88.052 million, net income was $919,000 versus a $1.149 million loss, and Adjusted EBITDA was $3.447 million versus $1.326 million. Operating activities used $275,000 of cash, compared with $2.865 million used in the year-earlier period. Cash and restricted cash totaled $4.122 million at September 30, 2026.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointQ3 net sales rose 8.4% to $33.047 million.
- Moderate pointQ3 net income was $637,000, versus a $146,000 loss a year earlier.
- Moderate pointQ3 Adjusted EBITDA rose 56.0% to $1.955 million.
Negative
- None.
8-K Event Classification
Key Figures
Key Terms
Adjusted EBITDA financial
EBITDA financial
Contract assets financial
Restricted cash financial
Earnings Snapshot
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much revenue did NSYS report in Q3 2026?
Did NSYS make a profit in Q3 2026?
Which markets led NSYS's backlog?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported):
(Exact name of registrant as specified in charter)
| (State or other jurisdiction | (Commission | IRS Employer | ||
| of incorporation) | File Number) | Identification No.) |
(Address of principal executive offices)
(Registrant’s telephone number, including area code)
(Former name or former address, if changed from last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| Pre-commencement communications pursuant to Rule 14-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240. 13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class: | Trading Symbol(s) | Name of each exchange on which registered: | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition
The Registrant issued a news release on November 12, 2026, entitled “Nortech Systems Reports Third Quarter Results” regarding its consolidated results and financial condition for the third quarter ended September 30, 2026. A copy of this news release is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
| 99.1 | News Release dated November 12, 2026 (furnished) | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 12, 2026
| Nortech Systems Incorporated | |
| (Registrant) | |
| /s/ Andrew D. C. LaFrence | |
| Andrew D. C. LaFrence | |
| Chief Financial Officer and SVP Finance |
Exhibit 99.1
Nortech Systems Reports Third Quarter Results
MINNEAPOLIS – November 12, 2026 – 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 imaging, medical device, industrial, and aerospace & defense markets, reported financial results for the third quarter ended September 30, 2026.
2026 Q3 Highlights:
| ● | Net sales of $33.0 million in Q3 2026 vs. $30.5 million in Q3 2025 | |
| ● | Net income of $637 thousand, or $0.21 per diluted share in Q3 2026 vs. net loss of $(146) thousand, or $(0.05) per diluted share in Q3 2025 | |
| ● | Adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”) of $2.0 million in Q3 2026 vs. $1.3 million in Q3 2025 | |
| ● | 90-day backlog of $31.5 million as of September 30, 2026 vs. $31.3 million as of September 30, 2025 | |
| ● | Total backlog of $92.8 million as of September 30, 2026, up 20% from September 30, 2025 |
Management Commentary
“Our third quarter results reflect continued execution of our business strategy,” said President & CEO, Jay D. Miller. “We are deepening engineering partnerships with our customers, using our manufacturing footprint across the United States, Mexico, and China to serve them from the location that best meets their needs, and strengthening operational discipline across our global operations. These efforts delivered year-over-year revenue growth and improved gross margin, and they are building momentum with our customers.”
“That momentum is reflected in our backlog. Total backlog of $92.8 million is up 20% from a year ago, led by Aerospace & Defense and Industrial markets, and gives us confidence in the direction of the business. Our China operations, where net sales grew more than 56% in the quarter, continue to demonstrate the value of our global footprint. As we close out 2026, we are focused on converting backlog into profitable shipments, strengthening cash generation through disciplined purchasing and inventory management, and advancing our fiber optic technologies to support our customers’ next-generation applications.”
Summary Financial Information
The following table provides summary financial information comparing the third quarter 2026 (“Q3 2026”) financial results to the same quarter in 2025 (“Q3 2025”) as well as the nine-month period ended September 30, 2026 (“YTD 2026”) with the same period in 2025 (“YTD 2025”).
| ($ in thousands) | Q3 2026 | Q3 2025 | % Change | YTD 2026 | YTD 2025 | % Change | ||||||||||||||||||
| Net sales | $ | 33,047 | $ | 30,482 | 8.4 | % | $ | 96,903 | $ | 88,052 | 10.1 | % | ||||||||||||
| Gross profit | $ | 5,872 | $ | 5,025 | 16.9 | % | $ | 16,277 | $ | 12,940 | 25.8 | % | ||||||||||||
| Operating expenses | $ | 4,458 | $ | 4,080 | 9.3 | % | $ | 14,193 | $ | 12,866 | 10.3 | % | ||||||||||||
| Net income (loss) | $ | 637 | $ | (146 | ) | 536.3 | % | $ | 919 | $ | (1,149 | ) | 180.0 | % | ||||||||||
| EBITDA | $ | 1,719 | $ | 1,253 | 37.2 | % | $ | 3,007 | $ | 1,060 | 183.7 | % | ||||||||||||
| Adjusted EBITDA | $ | 1,955 | $ | 1,253 | 56.0 | % | $ | 3,447 | $ | 1,326 | 160.0 | % | ||||||||||||
See the reconciliation of GAAP measures to non-GAAP financial measures of EBITDA and Adjusted EBITDA included in this release.
Conference Call
The Company will hold a live conference call and webcast at 3:30 p.m. central time on Thursday, November 12, to discuss the Company’s 2026 third quarter results. The call will be hosted by Jay D. Miller, Chief Executive Officer and President and Andrew D. C. LaFrence, Chief Financial Officer and Senior Vice President of Finance. To access the live audio conference call, US participants may call 888-506-0062 and international participants may call 973-528-0011. Participant Access Code: 124682. Participants may also access the call via webcast at: https://www.webcaster5.com/Webcast/Page/2814/54544.
###
About Nortech Systems Incorporated
Nortech Systems is a leading provider of design and manufacturing solutions for complex electromedical devices, electromechanical systems, assemblies, and components. Nortech primarily serves the medical imaging, medical device, aerospace & defense, and industrial markets. Its design services span concept development to commercial design, and include medical device, software, electrical, mechanical, and biomedical engineering. Its manufacturing and supply chain capabilities are vertically integrated around wire, cable, and interconnect assemblies, printed circuit board assemblies, as well as system-level assembly, integration, and final test. Headquartered in Maple Grove, Minn., Nortech currently has six manufacturing locations and design centers across the U.S., Latin America, and Asia. Nortech Systems is traded on the NASDAQ Stock Market under the symbol NSYS. Nortech’s website is www.nortechsys.com.
Forward-Looking Statements
This press release contains forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 including without limitation statements regarding strength and growth of bookings and backlog, future business prospects, opportunities in aerospace and defense and medical markets, converting strong customer engagement into sustainable growth and long-term value, future financial results including increased gross margin, our ability to generate positive EBITDA, nearshoring as a strategic advantage, successful execution of our long-term strategy, our enhanced competitiveness in aerospace, defense, and other high-reliability markets, and effects of restructuring and consolidating manufacturing facilities. While this release is based on management’s best judgment and current expectations, actual results may differ materially from those expressed or implied and involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the forward-looking statements include, without limitation: (1) commodity cost increases coupled with challenges in raising prices and/or customer pressure to reduce prices; (2) supply chain disruptions leading to shortages of critical components; (3) volatility in market conditions which may affect demand for the Company’s products; (4) increased competition and/or reduced demand; (5) changes in the reliability and efficiency of operating facilities or those of third parties; (6) risks related to the availability of labor; (7) the unanticipated loss of any key member of senior management; (8) geopolitical, economic, financial and business conditions including changing tariff environment; (9) the Company’s ability to steadily improve manufacturing output and product quality; (10) the impact of global health epidemics on our customers, employees, manufacturing facilities, suppliers, the capital markets and our financial condition; (11) challenges with customers with respect to moving production from one facility to another Company owned facility or (12) financing cost increases and continued availability. Some of the above-mentioned factors are described in further detail in the section entitled “Risk Factors” in our annual and quarterly reports, as applicable. You should assume the information appearing in this document is accurate only as of the date hereof, or as otherwise specified, as our business, financial condition, results of operations and prospects may have changed since such date. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the United States Securities and Exchange Commission, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.
Reconciliation of Generally Accepted Accounting Principles (“GAAP”) Measures to Non-GAAP Financial Measure
EBITDA is a non-GAAP financial measure used by management that we believe provides useful information to investors because it reflects ongoing performance excluding certain non-recurring items during comparable periods and facilitates comparisons between peer companies since interest, taxes, depreciation, and amortization can differ greatly between different organizations as a result of differing capital structures and tax strategies. EBITDA is defined as net income (loss) plus interest expense, plus income tax expense plus depreciation expense and amortization expense. EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Adjusted EBITDA reflects the impact of restructuring, of costs to review long-term strategy to evaluate opportunities to enhance shareholder value, and other non-recurring items. These strategy costs totaled $236 thousand in the third quarter of 2026 and $440 thousand for the nine months ended September 30, 2026. EBITDA and Adjusted EBITDA are not a measurement of our financial performance under GAAP and should not be considered an alternative to net sales or net income (loss), as applicable, or any other performance measures derived in accordance with GAAP and may not be comparable to other similarly titled measures of other businesses. EBITDA and Adjusted EBITDA have limitations as an analytical metric, and you should not consider it in isolation or as a substitute for analysis of our operating results as reported under GAAP.
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME (LOSS)
(UNAUDITED)
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)
| THREE MONTHS ENDED | NINE MONTHS ENDED | |||||||||||||||
| SEPTEMBER 30, | SEPTEMBER 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net sales | $ | 33,047 | $ | 30,482 | $ | 96,903 | $ | 88,052 | ||||||||
| Cost of goods sold | 27,175 | 25,457 | 80,626 | 75,112 | ||||||||||||
| Gross profit | 5,872 | 5,025 | 16,277 | 12,940 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Selling | 1,187 | 1,221 | 4,002 | 3,609 | ||||||||||||
| General and administrative | 3,004 | 2,593 | 9,268 | 8,097 | ||||||||||||
| Research and development | 267 | 266 | 923 | 894 | ||||||||||||
| Restructuring charges | - | - | - | 266 | ||||||||||||
| Total operating expenses | 4,458 | 4,080 | 14,193 | 12,866 | ||||||||||||
| Income from operations | 1,414 | 945 | 2,084 | 74 | ||||||||||||
| Other expense: | ||||||||||||||||
| Interest expense, net | (223 | ) | (273 | ) | (676 | ) | (744 | ) | ||||||||
| Income (loss) before income taxes | 1,191 | 672 | 1,408 | (670 | ) | |||||||||||
| Income tax expense | 554 | 818 | 489 | 479 | ||||||||||||
| Net income (loss) | $ | 637 | $ | (146 | ) | $ | 919 | $ | (1,149 | ) | ||||||
| Net income (loss) per common share: | ||||||||||||||||
| Basic (in dollars per share) | $ | 0.23 | $ | (0.05 | ) | $ | 0.33 | $ | (0.41 | ) | ||||||
| Weighted average number of common shares outstanding - basic (in shares) | 2,859,420 | 2,785,541 | 2,817,225 | 2,773,401 | ||||||||||||
| Diluted (in dollars per share) | $ | 0.21 | $ | (0.05 | ) | $ | 0.30 | $ | (0.41 | ) | ||||||
| Weighted average number of common shares outstanding - diluted (in shares) | 3,036,090 | 2,785,541 | 3,017,302 | 2,773,401 | ||||||||||||
| Other comprehensive income (loss) | ||||||||||||||||
| Foreign currency translation | $ | 142 | $ | (21 | ) | $ | 232 | $ | 109 | |||||||
| Comprehensive income (loss), net of tax | $ | 779 | $ | (167 | ) | $ | 1,151 | $ | (1,040 | ) | ||||||
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30, 2026 AND DECEMBER 31, 2025
(UNAUDITED)
(IN THOUSANDS, EXCEPT SHARE DATA)
| SEPTEMBER 30, 2026 |
DECEMBER 31, 2025 |
|||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash | $ | 3,023 | $ | 1,655 | ||||
| Restricted cash | 1,099 | - | ||||||
| Accounts receivable, less allowance for credit losses of $180 and $161, respectively | 20,948 | 16,998 | ||||||
| Inventories, net | 25,648 | 20,695 | ||||||
| Contract assets | 17,155 | 15,184 | ||||||
| Prepaid assets and other assets | 1,289 | 1,618 | ||||||
| Total current assets | 69,162 | 56,150 | ||||||
| Property and equipment, net | 5,009 | 5,203 | ||||||
| Operating lease assets, net | 6,113 | 7,016 | ||||||
| Deferred tax assets | 3,853 | 3,394 | ||||||
| Other intangible assets, net | 136 | 156 | ||||||
| Deferred line of credit issuance costs, net | 222 | - | ||||||
| Total assets | $ | 84,495 | $ | 71,919 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Lines of credit | $ | 8,310 | $ | 7,000 | ||||
| Current portion of term loan | 440 | - | ||||||
| Accounts payable | 15,523 | 12,809 | ||||||
| Accrued payroll and commissions | 2,932 | 1,822 | ||||||
| Customer deposits | 9,320 | 5,386 | ||||||
| Current portion of operating lease obligations | 1,177 | 1,332 | ||||||
| Current portion of finance lease obligations | 216 | 274 | ||||||
| Other accrued liabilities | 1,823 | 1,221 | ||||||
| Total current liabilities | 39,741 | 29,844 | ||||||
| Long-term liabilities: | ||||||||
| Term loan, net of debt issuance costs | 1,502 | - | ||||||
| Long-term operating lease obligations | 5,666 | 6,476 | ||||||
| Long-term finance lease obligations | 612 | 626 | ||||||
| Other long-term liabilities | 441 | 426 | ||||||
| Total long-term liabilities | 8,221 | 7,528 | ||||||
| Total liabilities | 47,962 | 37,372 | ||||||
| Shareholders’ equity: | ||||||||
| Preferred stock, $1 par value; 1,000,000 shares authorized; 250,000 shares issued and outstanding | 250 | 250 | ||||||
| Common stock - $0.01 par value; 9,000,000 shares authorized; 2,865,782 and 2,786,134 shares issued and outstanding, respectively | 29 | 28 | ||||||
| Additional paid-in capital | 18,689 | 17,855 | ||||||
| Accumulated other comprehensive loss | (477 | ) | (709 | ) | ||||
| Retained earnings | 18,042 | 17,123 | ||||||
| Total shareholders’ equity | 36,533 | 34,547 | ||||||
| Total liabilities and shareholders’ equity | $ | 84,495 | $ | 71,919 | ||||
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(IN THOUSANDS)
| NINE MONTHS ENDED SEPTEMBER 30, | ||||||||
| 2026 | 2025 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
| Net income (loss) | $ | 919 | $ | (1,149 | ) | |||
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 923 | 986 | ||||||
| Compensation on stock-based awards | 515 | 369 | ||||||
| Change in allowance for credit losses | 19 | (10 | ) | |||||
| Change in inventory reserves | (346 | ) | 346 | |||||
| Deferred taxes | (459 | ) | (189 | ) | ||||
| Changes in current operating items: | ||||||||
| Accounts receivable | (3,725 | ) | (3,875 | ) | ||||
| Inventories | (4,607 | ) | 2,823 | |||||
| Contract assets | (1,970 | ) | (1,536 | ) | ||||
| Prepaid expenses and other assets | 329 | (1,244 | ) | |||||
| Accounts payable | 2,446 | 165 | ||||||
| Accrued payroll and commissions | 1,093 | 555 | ||||||
| Customer deposits | 3,935 | (424 | ) | |||||
| Other accrued liabilities | 653 | 318 | ||||||
| Net cash used in operating activities | (275 | ) | (2,865 | ) | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
| Proceeds from sale of property and equipment | - | 504 | ||||||
| Purchases of property and equipment | (424 | ) | (517 | ) | ||||
| Net cash used in investing activities | (424 | ) | (13 | ) | ||||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
| Proceeds from lines of credit | 62,561 | 76,215 | ||||||
| Payments to line of credit | (61,260 | ) | (72,880 | ) | ||||
| Proceeds from term loan | 2,200 | - | ||||||
| Payments of debt issuance costs | (290 | ) | - | |||||
| Principal payments on term loan | (220 | ) | - | |||||
| Principal payments on financing leases | (182 | ) | (140 | ) | ||||
| Stock award exercises | 320 | 23 | ||||||
| Net cash provided by financing activities | 3,129 | 3,218 | ||||||
| Effect of exchange rate changes on cash and restricted cash | 37 | 15 | ||||||
| Net change in cash and restricted cash | 2,467 | 355 | ||||||
| Cash and restricted cash - beginning of period | 1,655 | 916 | ||||||
| Cash and restricted cash - end of period | $ | 4,122 | $ | 1,271 | ||||
RECONCILIATION OF NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA
|
THREE MONTHS ENDED SEPTEMBER 30, |
NINE MONTHS ENDED SEPTEMBER 30, |
|||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| ($ in thousands) | ||||||||||||||||
| Net income (loss) | $ | 637 | $ | (146 | ) | $ | 919 | $ | (1,149 | ) | ||||||
| Interest | 223 | 273 | 676 | 744 | ||||||||||||
| Taxes | 554 | 818 | 489 | 479 | ||||||||||||
| Depreciation | 294 | 303 | 903 | 972 | ||||||||||||
| Amortization | 11 | 5 | 20 | 14 | ||||||||||||
| EBITDA | 1,719 | 1,253 | 3,007 | 1,060 | ||||||||||||
| Restructuring charges | - | - | - | 266 | ||||||||||||
| Strategy review expenses | 236 | - | 440 | - | ||||||||||||
| ADJUSTED EBITDA | $ | 1,955 | $ | 1,253 | $ | 3,447 | $ | 1,326 | ||||||||
There were no material adjustments to EBITDA in the three months ended September 30, 2025. Adjustment to EBITDA for the three and nine months ended September 30, 2026 and the nine months ended September 30, 2025 include ($ in thousands):
| ● | During the third quarter and first nine months of 2026 we incurred $236 and $440 of third-party consulting, legal and other incremental costs associated with the Company’s 2026 review of long-term strategy to evaluate opportunities to enhance shareholder value following realized improvements in the Company’s backlog, financial performance and bank financing. These costs are included in general and administrative expenses in the condensed consolidated statement of operations, which expense amount is not included in Adjusted EBITDA. | |
| ● | During the first quarter of 2025, we incurred $235 of severance charges for a February 2025 reduction in force to align staffing to our forecasted net sales and $31 of expenses related to our closed Blue Earth facility, which expense amount is not included in Adjusted EBITDA. |
| ($ in millions) | Last Twelve Months (“LTM”) Ended in Quarter | |||||||||||||||||||||||||||||||||||||||||||||||||||
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| Net Sales | $ | 138.9 | $ | 139.3 | $ | 138.7 | $ | 137.5 | $ | 135.6 | $ | 128.1 | $ | 120.8 | $ | 117.6 | $ | 116.7 | $ | 118.4 | $ | 121.8 | $ | 124.7 | $ | 127.2 | ||||||||||||||||||||||||||
| Gross Profit $ - Adjusted | 21.4 | 23.1 | 23.1 | 22.2 | 20.7 | 16.7 | 14.4 | 14.6 | 15.8 | 18.0 | 19.6 | 20.5 | 21.3 | |||||||||||||||||||||||||||||||||||||||
| Gross Margin % - Adjusted | 15.4 | % | 16.6 | % | 16.6 | % | 16.1 | % | 15.3 | % | 13.1 | % | 11.9 | % | 12.4 | % | 13.5 | % | 15.2 | % | 16.1 | % | 16.4 | % | 16.8 | % | ||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 6.0 | $ | 8.0 | $ | 8.1 | $ | 7.3 | $ | 5.9 | $ | 2.1 | $ | (0.5 | ) | $ | (0.4 | ) | $ | 0.7 | $ | 2.5 | $ | 3.9 | $ | 3.7 | $ | 4.7 | ||||||||||||||||||||||||
Contact
Andrew D. C. LaFrence
Chief Financial Officer and Senior Vice President of Finance
alafrence@nortechsys.com
952-345-2243