secwatch.observer — SEC 8-K summary
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Issuer:     NORTECH SYSTEMS INC (NSYS)
CIK:        0000722313
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0001437749-23-030952
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nortech Systems Q3 revenue down 5.4% to $33.4M; EPS $0.42 vs $0.53 prior; backlog $102M
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- Revenue $33.4M, down 5.4% YoY; GAAP net income $1.2M ($0.42 diluted EPS) vs $1.5M ($0.53) in Q3 2022.
- Gross margin 15.9%, up 30 bps from Q2 2023; EBITDA $1.6M flat with Q2 2023.
- Backlog $102M at Sept 30, up slightly; YTD revenue $103.3M, up 4.8% from prior year.
- Management cites two large customers pushing out orders; expects resolution near term.
- Suzhou China facility earned Class II Medical Device certification from China NMPA, boosting medical sales in Asia.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/722313/000143774923030952/0001437749-23-030952-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/722313/000143774923030952/nsys20231108_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-030952

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