secwatch.observer — SEC 8-K summary
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Issuer:     NORTECH SYSTEMS INC (NSYS)
CIK:        0000722313
Form:       8-K
Filed at:   2024-08-08T23:59:59+00:00
Accession:  0001493152-24-030672
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nortech Systems Q2 net sales $33.9M, net income down 75% YoY to $157K
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/722313/000149315224030672/0001493152-24-030672-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/722313/000149315224030672/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-030672

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