Nortech Systems Q3 revenue $35.3M (+19.8%); EBITDA $2.4M, triple adjusted prior year

NORTECH SYSTEMS INC

2022-Q3 EPS reported $0.83 revenue$98,505,000

Revenue $35.3M (+19.8% YoY); gross margin 17.9% vs adjusted 11.4% prior year.
EBITDA $2.4M, up from adjusted $0.7M in Q3 2021; net income $1.5M ($0.53 diluted).
Backlog $103M, up 31% vs Sept 30, 2021.
Received patent for Flex Faraday Xtreme flexible printed circuit technology.
Investing in R&D for AOX cable platform; upgrading IT/HR/analytical capabilities.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NORTECH SYSTEMS INC reported third quarter ended September 30, 2022 results: revenue $35.3 million, net income $1.5 million, EPS $0.53 per diluted share.

Period: third quarter ended September 30, 2022
Revenue: $35.3 million
Net income: $1.5 million
EPS: $0.53 per diluted share
Result: reported results

Exact text from the filing

serving the medical, industrial and defense markets, reported 2022 third quarter results for the period ended September 30, 2022. 2022 Third Quarter Highlights ● Revenue of $35.3 million, up 19.8% compared to the third quarter of 2021. ● Gross margin of 17.9%, up 6.5 percentage points compared to adjusted gross margin of 11.4% in the third quarter of 2021. ●

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9 earnings releases filed in the last 30 days. Browse all earnings releases →

NORTECH SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0001437749-22-027000

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