Nortech Systems Reports Third Quarter Results
Nortech Systems (NASDAQ: NSYS) reported Q3 2024 financial results with net sales of $31.4 million, representing a 5.9% decrease from Q3 2023. The company posted a net loss of $739,000 ($0.27 per diluted share) compared to a net income of $1.2 million in Q3 2023. Gross profit declined 27.9% to $3.8 million, while operating expenses increased 4.5% to $4.5 million. The company's 90-day backlog stood at $29.6 million as of September 30, 2024. Management attributed the performance to customers delaying product purchases and reducing inventory levels, while implementing facility consolidation and program relocations to lower-cost locations to improve efficiency.
Nortech Systems (NASDAQ: NSYS) ha riportato i risultati finanziari per il terzo trimestre del 2024 con vendite nette di 31,4 milioni di dollari, che rappresentano una diminuzione del 5,9% rispetto al terzo trimestre del 2023. L'azienda ha registrato una perdita netta di 739.000 dollari (0,27 dollari per azione diluita) rispetto a un profitto netto di 1,2 milioni di dollari nel terzo trimestre del 2023. Il profitto lordo è diminuito del 27,9% a 3,8 milioni di dollari, mentre le spese operative sono aumentate del 4,5% a 4,5 milioni di dollari. L'azienda aveva un backlog di 90 giorni pari a 29,6 milioni di dollari al 30 settembre 2024. La direzione ha attribuito questa performance ai clienti che ritardano gli acquisti di prodotti e riducono i livelli di inventario, mentre implementano la consolidazione delle strutture e il trasferimento di programmi in località a basso costo per migliorare l'efficienza.
Nortech Systems (NASDAQ: NSYS) reportó resultados financieros del tercer trimestre de 2024 con ventas netas de 31,4 millones de dólares, lo que representa una disminución del 5,9% en comparación con el tercer trimestre de 2023. La compañía registró una pérdida neta de 739,000 dólares (0,27 dólares por acción diluida) en comparación con un ingreso neto de 1.2 millones de dólares en el tercer trimestre de 2023. La utilidad bruta disminuyó un 27,9% a 3,8 millones de dólares, mientras que los gastos operativos aumentaron un 4,5% a 4,5 millones de dólares. El backlog de 90 días de la empresa se situó en 29,6 millones de dólares al 30 de septiembre de 2024. La dirección atribuyó el desempeño a los clientes que retrasan las compras de productos y reducen los niveles de inventario, mientras implementan la consolidación de instalaciones y reubicaciones de programas a lugares de menor costo para mejorar la eficiencia.
Nortech Systems (NASDAQ: NSYS)는 2024년 3분기 재무 결과를 보고하며 순매출 3,140만 달러를 기록하였으며, 이는 2023년 3분기 대비 5.9% 감소한 수치입니다. 회사는 순손실 739,000 달러 (희석된 주당 0.27 달러)로, 2023년 3분기 120만 달러의 순이익과 비교됩니다. 총 이익은 27.9% 감소하여 380만 달러에 머물렀고, 운영비용은 4.5% 증가하여 450만 달러에 달했습니다. 회사의 90일 미결 주문량은 2024년 9월 30일 기준으로 2,960만 달러였습니다. 경영진은 고객들이 제품 구매를 지연하고 재고 수준을 줄이고, 효율성을 높이기 위해 저비용 지역으로의 시설 통합 및 프로그램 이전을 시행한 데 따른 성과라고 설명했습니다.
Nortech Systems (NASDAQ: NSYS) a annoncé ses résultats financiers pour le troisième trimestre 2024, avec un chiffre d'affaires net de 31,4 millions de dollars, représentant une baisse de 5,9 % par rapport au troisième trimestre 2023. L'entreprise a affiché une perte nette de 739 000 dollars (0,27 dollars par action diluée) par rapport à un bénéfice net de 1,2 million de dollars au troisième trimestre 2023. Le bénéfice brut a diminué de 27,9 % pour atteindre 3,8 millions de dollars, tandis que les frais d'exploitation ont augmenté de 4,5 % pour s'établir à 4,5 millions de dollars. Le carnet de commandes de l'entreprise s'élevait à 29,6 millions de dollars au 30 septembre 2024. La direction a attribué cette performance au report des achats de produits par les clients et à la réduction des niveaux d'inventaire, tout en mettant en œuvre une consolidation des installations et un déplacement des programmes vers des localités à moindre coût pour améliorer l'efficacité.
Nortech Systems (NASDAQ: NSYS) hat die Finanzergebnisse für das dritte Quartal 2024 veröffentlicht, mit Nettoverkäufen von 31,4 Millionen Dollar, was einem Rückgang von 5,9% im Vergleich zum dritten Quartal 2023 entspricht. Das Unternehmen verzeichnete einen Nettoverlust von 739.000 Dollar (0,27 Dollar pro verwässerter Aktie) im Vergleich zu einem Nettogewinn von 1,2 Millionen Dollar im dritten Quartal 2023. Der Bruttogewinn sank um 27,9% auf 3,8 Millionen Dollar, während die Betriebskosten um 4,5% auf 4,5 Millionen Dollar anstiegen. Die Auftragspipeline des Unternehmens betrug zum 30. September 2024 29,6 Millionen Dollar. Das Management führte die Leistung auf die Verzögerung von Produktkäufen durch die Kunden und die Reduzierung der Lagerbestände zurück, während es die Konsolidierung von Einrichtungen und die Verlagerung von Programmen an Standorte mit niedrigeren Kosten implementierte, um die Effizienz zu verbessern.
- Strategic consolidation of North American footprint to reduce costs
- Restructuring operations to improve efficiency and reduce ongoing costs
- Moving manufacturing to lower-cost, higher-margin locations
- Net sales decreased 5.9% to $31.4 million in Q3 2024
- Net loss of $739,000 compared to $1.2 million profit in Q3 2023
- Gross profit declined 27.9% to $3.8 million
- Operating expenses increased 4.5% to $4.5 million
- Adjusted EBITDA decreased 91.1% to $143,000
Insights
The Q3 results reveal significant challenges with
The
MINNEAPOLIS, Nov. 07, 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 financial results for the third quarter ended September 30, 2024.
2024 Q3 Highlights:
| ● | Net sales of | |
| ● | Net loss of ( | |
| ● | Adjusted earnings before interest, taxes, depreciation, and amortization (“EBITDA”) of | |
| ● | 90-day backlog of | |
Management Commentary
“Third quarter net sales were impacted by a continuing pattern of customers’ delaying product purchases, as well as customers’ desire to reduce their inventory and to shorten purchase order to fulfillment timelines, both of which have also negatively impacted many in the contract manufacturing industry over the last several quarters,” said Jay D. Miller, President and CEO of Nortech. “We see this as an opportunity to further strengthen customer relationships which are key to achieving the Company’s long-term strategic objectives. 2024 has been a difficult year with significant headwinds. However, we are meeting these challenges by consolidating facilities and moving a significant number of programs to lower-cost, higher-margin locations, while investing in important new capabilities. In general, we are continuing to position Nortech for sustained long-term health and growth in the face of short-term challenges.”
“We have just completed a restructuring of our back office and plant operations to better serve our customers by delivering high-quality products and services on-time with shorter lead times,” Miller noted. “We are very pleased with the progress in the third quarter of 2024 to consolidate the Company’s North American footprint and to move customer programs to manufacturing locations that better fit our customers’ needs. These are strategic moves to better scale the business, improve efficiency and reduce our ongoing cost structure. We are very bullish about our customer pipeline and the future of Nortech Systems.”
Summary Financial Information
The following table provides summary financial information comparing the third quarter 2024 (“Q3 2024”) financial results to the same quarter in 2023 (“Q3 2023”) as well as the nine-month ended September 30, 2024 (“YTD 24”) information to the same period in 2023 (“YTD 2023”).
| ($ in thousands) | Q3 24 | Q3 23 | % Change | YTD 24 | YTD 23 | % Change | ||||||||||||||||||
| Net sales | $ | 31,407 | $ | 33,369 | (5.9 | )% | $ | 99,513 | $ | 103,278 | (3.6 | )% | ||||||||||||
| Gross profit | $ | 3,835 | $ | 5,318 | (27.9 | )% | $ | 13,900 | $ | 16,277 | (14.6 | )% | ||||||||||||
| Operating expenses | $ | 4,518 | $ | 4,325 | 4.5 | % | $ | 13,416 | $ | 13,365 | (0.38 | )% | ||||||||||||
| Net income | $ | (739 | ) | $ | 1,206 | (161.3 | )% | $ | 183 | $ | 2,523 | (92.8 | )% | |||||||||||
| EBITDA | $ | (33 | ) | $ | 1,637 | (102.0 | )% | $ | 2,432 | $ | 4,815 | (49.5 | )% | |||||||||||
| Adjusted EBITDA | $ | 143 | $ | 1,637 | (91.1 | )% | $ | 2,699 | $ | 4,815 | (44.6 | )% | ||||||||||||
Conference Call
The Company will hold a live conference call and webcast at 7:30 a.m. central time on Thursday, November 7, 2024, to discuss the Company’s 2024 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. 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: 277848. Participants may also access the call via webcast at: https://www.webcaster4.com/Webcast/Page/2814/51403.
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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, 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/interconnect assemblies, printed circuit board assemblies, as well as system-level assembly, integration, and final test. Headquartered in Maple Grove, Minn., Nortech currently has seven 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 future financial results, strengthening of customer relationships, , shortening product lead times, achieving long-term strategic goals, effects of restructuring and consolidating manufacturing facilities, effects of investing in new capabilities, sustained long-term health and growth, ability to scale our business, reducing cost structure and optimism about customer pipeline. 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; (9) the Company’s ability to steadily improve manufacturing output and product quality or (10) the impact of global health epidemics on our customers, employees, manufacturing facilities, suppliers, the capital markets and our financial condition. 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 and non-recurring items. 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, 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 DATA)
| THREE MONTHS ENDED | NINE MONTHS ENDED | |||||||||||||||
| SEPTEMBER 30, | SEPTEMBER 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net sales | $ | 31,407 | $ | 33,369 | $ | 99,513 | $ | 103,278 | ||||||||
| Cost of goods sold | 27,572 | 28,050 | 85,613 | 87,001 | ||||||||||||
| Gross profit | 3,835 | 5,319 | 13,900 | 16,277 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Selling | 891 | 923 | 2,605 | 2,766 | ||||||||||||
| General and administrative | 2,951 | 2,958 | 9,103 | 9,328 | ||||||||||||
| Research and development | 284 | 314 | 893 | 907 | ||||||||||||
| Restructuring charges | 176 | - | 267 | - | ||||||||||||
| Total operating expenses | 4,302 | 4,195 | 12,868 | 13,001 | ||||||||||||
| (Loss) income from operations | (467 | ) | 1,124 | 1,032 | 3,276 | |||||||||||
| Other expense: | ||||||||||||||||
| Interest expense | (216 | ) | (130 | ) | (548 | ) | (365 | ) | ||||||||
| (Loss) income before income taxes | (683 | ) | 994 | 484 | 2,911 | |||||||||||
| Income tax expense (benefit) | 56 | (213 | ) | 301 | 389 | |||||||||||
| Net (loss) income | $ | (739 | ) | $ | 1,207 | $ | 183 | $ | 2,522 | |||||||
| Net (loss) income per common share: | ||||||||||||||||
| Basic (in dollars per share) | $ | (0.27 | ) | $ | 0.44 | $ | 0.07 | $ | 0.93 | |||||||
| Weighted average number of common shares outstanding - basic (in shares) | 2,760,438 | 2,737,895 | 2,754,389 | 2,716,166 | ||||||||||||
| Diluted (in dollars per share) | $ | (0.27 | ) | $ | 0.42 | $ | 0.06 | $ | 0.87 | |||||||
| Weighted average number of common shares outstanding - diluted (in shares) | 2,760,438 | 2,888,679 | 2,931,343 | 2,887,889 | ||||||||||||
| Other comprehensive income (loss) | ||||||||||||||||
| Foreign currency translation | 223 | (77 | ) | (135 | ) | (318 | ) | |||||||||
| Comprehensive income (loss), net of tax | $ | (516 | ) | $ | 1,130 | $ | 48 | $ | 2,204 | |||||||
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30, 2024 AND DECMEBER 31, 2023
(IN THOUSANDS, EXCEPT SHARE DATA)
| SEPTEMBER 30, 2024 | DECEMBER 31, 2023 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash | $ | 1,239 | $ | 960 | ||||
| Restricted cash | - | 715 | ||||||
| Accounts receivable, less allowances of | 16,584 | 19,279 | ||||||
| Inventories, net | 22,332 | 21,660 | ||||||
| Contract assets | 15,058 | 14,481 | ||||||
| Prepaid assets and other assets | 5,065 | 1,698 | ||||||
| Total current assets | 60,278 | 58,793 | ||||||
| Property and equipment, net | 5,834 | 6,513 | ||||||
| Operating lease assets, net | 8,034 | 6,917 | ||||||
| Deferred tax assets | 2,641 | 2,641 | ||||||
| Other intangible assets, net | 179 | 263 | ||||||
| Total assets | $ | 76,966 | $ | 75,127 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Current portion of finance lease obligations | $ | 492 | $ | 356 | ||||
| Current portion of operating lease obligations | 1,174 | 1,033 | ||||||
| Accounts payable | 12,315 | 15,924 | ||||||
| Accrued payroll and commissions | 2,940 | 4,138 | ||||||
| Customer deposits | 5,263 | 4,068 | ||||||
| Other accrued liabilities | 1,134 | 1,063 | ||||||
| Total current liabilities | 23,318 | 26,582 | ||||||
| Long-term liabilities: | ||||||||
| Long-term line of credit, net of issuance costs | 9,508 | 5,815 | ||||||
| Long-term finance lease obligations, net of current portion | 340 | 209 | ||||||
| Long-term operating lease obligations, net of current portion | 7,689 | 6,763 | ||||||
| Other long-term liabilities | 421 | 414 | ||||||
| Total long-term liabilities | 17,958 | 13,201 | ||||||
| Total liabilities | 41,276 | 39,783 | ||||||
| Shareholders’ equity: | ||||||||
| Preferred stock, | 250 | 250 | ||||||
| Common stock - | 28 | 27 | ||||||
| Additional paid-in capital | 17,226 | 16,929 | ||||||
| Accumulated other comprehensive loss | (667 | ) | (532 | ) | ||||
| Retained earnings | 18,853 | 18,670 | ||||||
| Total shareholders’ equity | 35,690 | 35,344 | ||||||
| Total liabilities and shareholders’ equity | $ | 76,966 | $ | 75,127 | ||||
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(IN THOUSANDS)
| SEPTEMBER 30, | ||||||||||||||||||||||
| 2024 | 2023 | |||||||||||||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||||||||||
| Net income | $ | 183 | $ | 2,522 | ||||||||||||||||||
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||||||||||||||||||||||
| Depreciation and amortization | 1,400 | 1,539 | ||||||||||||||||||||
| Compensation on stock-based awards | 334 | 299 | ||||||||||||||||||||
| Change in inventory reserves | 194 | (8 | ) | |||||||||||||||||||
| Change in accounts receivable allowances | (72 | ) | - | |||||||||||||||||||
| Other, net | 9 | 119 | ||||||||||||||||||||
| Changes in current operating assets and liabilities: | ||||||||||||||||||||||
| Accounts receivable | 2,727 | (162 | ) | |||||||||||||||||||
| Employee Retention Credit Receivable | - | 2,650 | ||||||||||||||||||||
| Inventories | (922 | ) | 899 | |||||||||||||||||||
| Contract assets | (577 | ) | (1,780 | ) | ||||||||||||||||||
| Prepaid expenses and other current assets | (2,888 | ) | (976 | ) | ||||||||||||||||||
| Accounts payable | (3,609 | ) | (1,636 | ) | ||||||||||||||||||
| Accrued payroll and commissions | (1,198 | ) | (810 | ) | ||||||||||||||||||
| Customer deposits | 1,195 | 345 | ||||||||||||||||||||
| Other accrued liabilities | 181 | (820 | ) | |||||||||||||||||||
| Net cash (used in) provided by operating activities | (3,043 | ) | 2,181 | |||||||||||||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||||||||||||
| Proceeds from sale of property and equipment | 9 | - | ||||||||||||||||||||
| Purchases of property and equipment | (980 | ) | (1,121 | ) | ||||||||||||||||||
| Net cash used in investing activities | (971 | ) | (1,121 | ) | ||||||||||||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||||||||
| Proceeds from line of credit | 99,888 | 95,783 | ||||||||||||||||||||
| Payments to line of credit | (96,184 | ) | (98,035 | ) | ||||||||||||||||||
| Proceeds from financing leases | 198 | - | ||||||||||||||||||||
| Principal payments on financing leases | (304 | ) | (291 | ) | ||||||||||||||||||
| Share repurchases | (67 | ) | - | |||||||||||||||||||
| Proceeds from stock option exercises | 30 | 155 | ||||||||||||||||||||
| Net cash provided by (used in) financing activities | 3,561 | (2,388 | ) | |||||||||||||||||||
| Effect of exchange rate changes on cash | 17 | (32 | ) | |||||||||||||||||||
| Net change in cash and cash equivalents | (436 | ) | (1,360 | ) | ||||||||||||||||||
| Cash and cash equivalents - beginning of period | 1,675 | 2,481 | ||||||||||||||||||||
| Cash and cash equivalents - end of period | $ | 1,239 | $ | 1,121 | ||||||||||||||||||
| Reconciliation of cash and restricted cash reported within the condensed consolidated balance sheets: | ||||||||||||||||||||||
| Cash | $ | 1,239 | $ | 699 | ||||||||||||||||||
| Restricted cash | - | 422 | ||||||||||||||||||||
| Total cash and restricted cash reported in the condensed consolidated statements of cash flows | $ | 1,239 | $ | 1,121 | ||||||||||||||||||
| THREE MONTHS ENDED September 30, | NINE MONTHS ENDED September 30, | |||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||||||
| RECONCILIATION OF NET (LOSS) INCOME TO EBITDA | ||||||||||||||||||||||
| ($ in thousands) | ||||||||||||||||||||||
| Net (Loss) Income | $ | (739 | ) | $ | 1,206 | $ | 183 | $ | 2,523 | |||||||||||||
| Interest | 216 | 131 | 548 | 365 | ||||||||||||||||||
| Taxes | 56 | (213 | ) | 301 | 389 | |||||||||||||||||
| Depreciation | 430 | 473 | 1,316 | 1,420 | ||||||||||||||||||
| Amortization | 4 | 39 | 84 | 119 | ||||||||||||||||||
| EBITDA | (33 | ) | 1,637 | 2,432 | 4,815 | |||||||||||||||||
| Restructuring Charges | 176 | - | 267 | - | ||||||||||||||||||
| ADJUSTED EBITDA | $ | 143 | $ | 1,637 | $ | 2,699 | $ | 4,815 | ||||||||||||||
There were no material adjustments to EBITDA in 2023.
Adjustment to EBITDA in 2024 includes ($ in thousands):
| ● | In the second quarter of 2024, we announced the closure of our Blue Earth, Minnesota facility by the end of 2024. In connection with this action, we accrued |
| ($ in millions) | Last Twelve Months (LTM) Ended in Quarter | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | ||||||||||||||||||||||||||||||||||||||||
| Net Sales | $ | 105.5 | $ | 115.2 | $ | 123.8 | $ | 126.1 | $ | 132.0 | $ | 134.1 | $ | 138.3 | $ | 140.8 | $ | 138.9 | $ | 139.3 | $ | 138.7 | $ | 137.5 | $ | 135.6 | ||||||||||||||||||||||||||
| Gross Profit $ - Adjusted | 10.3 | 11.2 | 13.7 | 15.1 | 18.1 | 20.5 | 21.9 | 22.4 | 21.4 | 23.1 | 23.1 | 22.2 | 20.27 | |||||||||||||||||||||||||||||||||||||||
| Gross Margin % - Adjusted | 9.7 | % | 9.7 | % | 11.0 | % | 12.0 | % | 13.7 | % | 15.3 | % | 15.8 | % | 15.9 | % | 15.4 | % | 16.6 | % | 16.6 | % | 16.1 | % | 14.9 | % | ||||||||||||||||||||||||||
| EBITDA - Adjusted | $ | (0.7 | ) | $ | (0.2 | ) | $ | 1.9 | $ | 2.5 | $ | 4.2 | $ | 5.8 | $ | 6.7 | $ | 6.8 | $ | 6.0 | $ | 8.0 | $ | 8.1 | $ | 7.3 | $ | 5.9 | ||||||||||||||||||||||||
Contact
Andrew D. C. LaFrence
Chief Financial Officer and Senior Vice President of Finance
alafrence@nortechsys.com
952-345-2243
FAQ
What was Nortech Systems (NSYS) revenue in Q3 2024?
What was Nortech Systems (NSYS) earnings per share in Q3 2024?
What is Nortech Systems (NSYS) current backlog as of September 30, 2024?
