---
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"
generated_at: "2026-06-04T12:30:39.394550+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Nortech Systems reports FY2023 net sales $139.3M, net income $6.9M, EBITDA up 38.2% to $8.0M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-008695
- JSON: https://secwatch.observer/filing/0001437749-24-008695.json
- Plain text: https://secwatch.observer/filing/0001437749-24-008695.txt

## Key facts
- Earnings Releases
  NORTECH SYSTEMS INC reported fourth quarter ended December 31, 2023 results: revenue $36,054, net income $4,352.
  - Period: fourth quarter ended December 31, 2023
  - Revenue: $36,054
  - Net income: $4,352
  - Result: reported results
  source text: our customers’ changing needs is a key competitive advantage.” 2023 Fourth Quarter and Full Year Results ($ 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_url: https://www.sec.gov/Archives/edgar/data/722313/000143774924008695/0001437749-24-008695-index.htm
- Earnings Releases
  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.
  - Period: year ended December 31, 2023
  - Revenue: $139.3 million
  - Net income: $6.9 million, or $2.38 per diluted share
  - EPS: $2.38 per diluted share
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/722313/000143774924008695/0001437749-24-008695-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.