earnings
confidence high
sentiment negative
materiality 0.70
Nortech Systems Q2 net sales $33.9M, net income down 75% YoY to $157K
NORTECH SYSTEMS INC
2024-Q2 EPS reported
$0.32
revenue$68,106,000
- Net sales $33.9M in Q2 2024, down 3.2% YoY from $35.0M.
- Net income $157K ($0.06 diluted EPS) vs $634K ($0.24) in Q2 2023, down 75.2%.
- Adjusted EBITDA $919K vs $1.622M in prior year, down 43.3%.
- 90-day backlog $30.1M as of June 30, 2024.
- Minnesota facility optimization to save at least $1.6M annually starting 2025.