{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-24-008695","form_type":"8-K","ticker":"NSYS","cik":"0000722313","company_name":"NORTECH SYSTEMS INC","filed_at":"2024-03-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.755147+00:00","generated_at":"2026-06-04T12:30:39.394550+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Nortech Systems reports FY2023 net sales $139.3M, net income $6.9M, EBITDA up 38.2% to $8.0M","bullets":["Net sales $139.3M, up 3.9% YoY; net income $6.9M ($2.38 diluted EPS), up from $2.0M ($0.70) in 2022.","Gross margin 16.6%, up 130 bps from 15.3% prior year; EBITDA $8.0M (+38.2% YoY).","Q4 net income includes $2.6M non-cash tax benefit from reversal of valuation allowance.","Year-end backlog $35.1M, consistent with prior year; management sees normalization in supply chain.","Restructured credit agreement with Bank of America to increase borrowing capacity."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-24-008695","json":"https://secwatch.observer/filing/0001437749-24-008695.json","markdown":"https://secwatch.observer/filing/0001437749-24-008695.md","text":"https://secwatch.observer/filing/0001437749-24-008695.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/722313/000143774924008695/0001437749-24-008695-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/722313/000143774924008695/nsys20240319_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T12:30:39.394550+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3e3d31ed24637ec23d7fd1f81ddfd2bffd4ce97c","claim":"NORTECH SYSTEMS INC reported fourth quarter ended December 31, 2023 results: revenue $36,054, net income $4,352.","evidence_excerpt":"our customers’ changing needs is a key competitive advantage.” 2023 Fourth Quarter and Full Year Results ($ in thousands) Q4 23 Q4 22 % Full Year 2023 Full Year 2022 % Net sales $36,054 $35,618 1.2 % $139,332 $134,123 3.9% Gross Profit $6,827 $5,104 33.8 % $23,104 $20,480 12.8% Operating Expenses $4,151 $4,255 2.4% $17,151 $16,592 (3.4%) Net Income $4,352 $(381)","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/722313/000143774924008695/0001437749-24-008695-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fourth quarter ended December 31, 2023"},{"label":"Revenue","value":"$36,054"},{"label":"Net income","value":"$4,352"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"5b7e5741c4de5f2a5742cda5e320e9e292f73986","claim":"NORTECH SYSTEMS INC reported year ended December 31, 2023 results: revenue $139.3 million, net income $6.9 million, or $2.38 per diluted share, EPS $2.38 per diluted share.","evidence_excerpt":"serving the medical, industrial and defense markets, reported 2023 fourth quarter and full year results for the period ended December 31, 2023. 2023 Highlights: ● Net sales of $139.3 million, up 3.9% from the prior year. ● Net income of $6.9 million, or $2.38 per diluted share, compared with net income of $2.0 million, or $0.70 per diluted share, in 2022. Fourth","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/722313/000143774924008695/0001437749-24-008695-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"year ended December 31, 2023"},{"label":"Revenue","value":"$139.3 million"},{"label":"Net income","value":"$6.9 million, or $2.38 per diluted share"},{"label":"EPS","value":"$2.38 per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}