secwatch.observer — SEC 8-K summary
======================================

Issuer:     NORTECH SYSTEMS INC (NSYS)
CIK:        0000722313
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001493152-24-043921
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nortech Systems Q3 net loss of $739K; sales down 5.9% YoY to $31.4M
-------------------------------------------------------------------

- Net sales of $31.4M, down 5.9% from $33.4M in Q3 2023; net loss of ($739K) vs net income of $1.2M.
- Adjusted EBITDA fell to $143K from $1.6M; gross profit down 27.9% to $3.8M.
- Operating expenses up 4.5%; 90-day backlog of $29.6M as of Sept 30, 2024.
- Management cites customers delaying purchases and reducing inventory as headwinds.
- Restructuring includes consolidating facilities and moving programs to lower-cost locations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/722313/000149315224043921/0001493152-24-043921-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/722313/000149315224043921/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-043921

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer