Welcome to our dedicated page for Nortech Systems news (Ticker: NSYS), a resource for investors and traders seeking the latest updates and insights on Nortech Systems stock.
Nortech Systems Inc. (NSYS) is a leading provider of electronics manufacturing services (EMS). The company specializes in producing wire and cable assemblies, printed circuit board assemblies, and diagnostic repair and integration services. Their expertise extends to higher-level assemblies and box builds tailored for a diverse range of industries. Markets served by Nortech Systems include medical, automotive, aerospace, computer peripherals, commercial, telecom, government, and consumer sectors.
Nortech Systems Inc, headquartered in the United States, is renowned for its full-service approach, offering value-added engineering, technical, and manufacturing services. Their comprehensive service spectrum encompasses project management, design, testing, prototyping, manufacturing, supply chain management, and post-market services. This broad range enables them to provide complete solutions for their clients, from initial concept through final production and beyond.
The company operates state-of-the-art facilities equipped with advanced technology suited for customized design, manufacturing, testing, and repair processes. These high-tech facilities are pivotal in delivering quality products and services that meet the stringent demands of their clients.
Nortech Systems' core business segments include:
- Medical Devices: Manufacturing and engineering services for complete medical devices, crucial for delivering innovative healthcare solutions.
- Aerospace and Defense: Providing essential components and assemblies for aerospace and defense applications, ensuring reliability and performance in critical environments.
- Industrial Markets: Offering complex electro-mechanical assemblies for various industrial applications, enhancing operational efficiency and productivity.
- Telecom and Commercial: Supplying high-quality assemblies and components to support telecom and commercial infrastructure.
Recent achievements highlight Nortech Systems' commitment to innovation and excellence. The company continues to strengthen its market position through strategic partnerships and continuous improvements in their service delivery.
Financially, Nortech Systems maintains a robust performance track, driven by steady revenue streams primarily from their medical device and product manufacturing services. With a customer-centric approach, advanced technical capabilities, and a focus on quality, Nortech Systems Inc. remains a vital player in the EMS industry, committed to delivering exceptional value to their clients.
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.
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