Nortech Systems Incorporated filings document the regulatory record of a Nasdaq-listed electronic manufacturing services company serving medical, medical imaging, aerospace and defense, and industrial markets. Its Form 8-K reports include quarterly results releases, credit-facility agreements, covenant waivers, debt-financing terms and corporate governance updates tied to executive and board changes.
The company’s proxy materials cover annual shareholder meeting matters, including director elections, advisory executive-compensation votes, auditor ratification and equity plan approvals. Filing disclosures also identify its common stock registration on the Nasdaq Capital Market and provide formal records of capital-structure, governance and operating-performance events.
Nortech Systems Incorporated filed Amendment No. 1 to its Annual Report for the year ended December 31, 2025, solely to add conformed signatures and updated CEO/CFO certifications; no financial statements or other disclosures were changed.
The company provides engineering and manufacturing services for complex electromedical, aerospace and defense, and industrial products from facilities in the U.S., Mexico and China. In 2025, net sales were $118,365 thousand with over 50% from medical-related markets, one customer represented 32.2% of net sales, and year-end total backlog was $77,343 thousand. Non‑affiliate market value was $11.81 million at a share price of $8.93, with 2,786,134 shares outstanding as of February 28, 2026.
Nortech Systems Incorporated calls a virtual annual shareholder meeting on May 13, 2026. Shareholders of record as of March 20, 2026, when 2,786,134 common shares were outstanding, may vote online.
Investors will elect six directors, cast an advisory Say‑on‑Pay vote on named executive officer compensation, ratify Baker Tilly US, LLP as auditor for 2026, and vote on a new 2026 Equity Incentive Plan authorizing up to 250,000 shares plus any remaining shares from the 2017 plan. The company is a Nasdaq “controlled company,” with a Kunin family group holding 52.9% of voting power, yet the board currently has a majority of independent directors and fully independent audit, compensation and nominating committees.
Nortech Systems Incorporated reported improved fourth-quarter 2025 results, returning to profitability on higher margins despite lower full-year sales. For Q4 2025, net sales were $30.3 million, up from $28.6 million a year earlier, while net income reached $897 thousand, or $0.32 per basic share, compared with a loss of $1.5 million, or $(0.54) per share, in Q4 2024. Gross profit nearly doubled to $5.1 million and adjusted EBITDA improved to $1.2 million from a loss in the prior-year quarter.
For full-year 2025, net sales were $118.4 million versus $128.1 million in 2024, but the net loss narrowed to $252 thousand from $1.3 million, and adjusted EBITDA rose to $2.5 million from $2.1 million. The company reported a 90‑day backlog of $27.3 million as of December 31, 2025 and closed $17.2 million of debt financing, while emphasizing ongoing restructuring benefits, margin gains, and an AS9100:D certification at its Monterrey facility.
Nortech Systems Incorporated reported 2025 net sales of $118,365 thousand, down 7.6% from 2024, as Medical Device, Industrial, and Aerospace & Defense volumes softened while Medical Imaging grew. Despite lower revenue, gross margin improved to 15.2% from 13.1%, helped by better plant utilization and business mix.
The company generated operating income of $975 thousand but recorded a small net loss of $252 thousand. Backlog strengthened, with total orders rising 17.4% to $77,343 thousand and 90‑day backlog up 3.2%, reflecting demand and shipment timing. One customer accounted for 32.2% of 2025 net sales, underscoring customer concentration risk.
Nortech operates EMS facilities in Minnesota, Mexico, and China, serving Medical Device, Medical Imaging, Aerospace & Defense, and Industrial OEMs. It invested $1,172 thousand in research and development and ended the year with 685 full‑time employees. The company has a new asset‑based credit facility providing up to $15,000 thousand in revolving capacity plus a $2,200 thousand term loan, subject to financial covenants such as a 1.10x fixed charge coverage ratio.
Nortech Systems Incorporated entered into a new Credit and Security Agreement with Associated Bank that provides a revolving credit facility of up to $15,000,000 and a $2,200,000 term loan. This replaces the company’s prior facility that was due to mature in August 2026.
The new facility includes a $1,500,000 letter-of-credit sublimit, is secured by substantially all U.S. assets, and the revolver and term loan each mature in March 2029. Borrowings bear interest at a base rate or one- or three-month Term SOFR plus 2.00% for revolver borrowings and 2.25% for the term loan.
The agreement includes customary covenants limiting additional debt, liens, investments, asset sales, dividends, and certain transactions without lender consent. Nortech must maintain a Fixed Charge Coverage Ratio of 1.10 to 1.00 and comply with broad event-of-default provisions, including non-compliance, change of control, destruction of collateral, or a material adverse effect.
Nortech Systems Incorporated entered into a Waiver and Amendment No. 4 to its Credit Agreement with Bank of America on February 27, 2026. Bank of America waived financial covenant defaults tied to the company’s consolidated leverage ratio, fixed charge coverage ratio, and consolidated EBITDA for the quarter ended December 31, 2025.
The amendment revises key credit terms, including borrowing base mechanics, financial covenants with new EBITDA thresholds, revolving commitment levels, and an increase in the applicable borrowing rate. The company reports ongoing operating benefits from earlier restructuring and is negotiating a new asset-backed lending facility, which it expects to close in the near term.
Nortech Systems Incorporated furnished an update on its recent performance by referencing a news release titled “Nortech Systems Reports Third Quarter Results.” The release covers the company’s consolidated results and financial condition for the third quarter ended September 30, 2025.
The news release, dated November 13, 2025 and attached as Exhibit 99.1, contains the detailed financial and operating results, while this report serves to formally provide that information to the market.
Nortech Systems (NSYS) filed its Q3 2025 10‑Q, showing net sales of $30.5 million versus $31.4 million a year ago. Gross margin improved to 16.5% from 12.2%, lifting operating results to $0.9 million of operating income from a prior‑year loss. The quarter ended with a net loss of $0.1 million, compared with a $0.7 million loss last year.
Year‑to‑date, net sales were $88.1 million versus $99.5 million, with operating income of $0.1 million and a net loss of $1.1 million. Aerospace and Defense softness and plant transfers weighed on revenue, while Medical Imaging grew. The 90‑day backlog rose to $31.3 million, up 17.8% from the start of the quarter, and total backlog was $77.3 million. Cash was $1.3 million, and the line of credit balance was $12.0 million, classified as current. Management noted that the revolver maturing on August 31, 2026 initially raised substantial doubt under accounting guidance, but term sheets and a refinancing plan alleviated that doubt. Operating cash flow used was $2.9 million for the first nine months.
Nortech Systems Incorporated reported a planned board transition. Director Debarati Sen notified the company she will not stand for re‑election for the 2026–2027 term and will continue to serve through the annual meeting in May 2026. The company stated her decision was not the result of any disagreement regarding operations, policies, or practices.
This update reflects routine board refreshment disclosed under Item 5.02 of Form 8‑K and does not change the company’s day‑to‑day operations.
Nortech Systems Incorporated reported that Senior Vice President, Global Operations John Lindeen has notified the company of his intention to retire and resign. The company stated that his resignation is not due to any disagreement with its operations, policies, or procedures, indicating a planned transition rather than a dispute.
Lindeen will continue serving as Senior Vice President, Global Operations for the remainder of 2025 and into the first quarter of 2026 to support continuity. Nortech Systems has begun a search for a permanent replacement to lead its global operations after his departure.