Highest-materiality recent filing
Nortech Systems Q1 net loss narrows to $34k; revenue up 12.7% to $30.3M
Net sales $30.3M, up 12.7% YoY; net loss $34k vs $1.3M loss in Q1 2025.
Nortech Systems Q4 net income $897k vs loss $1.48M YoY; sales up 5.9%
Net sales $30.3M in Q4 2025, up 5.9% from $28.6M in Q4 2024.
Nortech Systems enters $15M revolver, $2.2M term loan with Associated Bank, maturing 2029
Revolver up to $15M subject to borrowing base (AR, inventory, fixed assets); term loan $2.2M.
Nortech Systems obtains waiver for Q4 2025 covenant breaches; revises credit facility terms
Bank of America waived defaults on leverage, fixed charge, and EBITDA covenants for Q4 2025.
Nortech Systems Q3 net loss narrows to $146K; adjusted EBITDA turns positive at $1.3M
Net sales $30.5M, down 2.9% YoY from $31.4M; net loss per basic share $(0.05) vs. $(0.27).
Nortech Systems Q2 net income up 99% to $313K; sales down 9.5% to $30.7M
Net sales $30.7M, down 9.5% YoY; net income $313K ($0.12 EPS) vs $157K in Q2 2024.
Nortech Systems Q1 net loss of $1.3M; revenue down 21% to $26.9M
Net sales $26.9M, down 21.4% YoY from $34.2M; net loss of $1.3M ($0.48 diluted loss).
Nortech Systems Q4 net sales $28.6M, net loss $1.5M; defense delay cited
Net sales $28.6M (-20.6% YoY); net loss $1.5M vs $4.4M profit in Q4 2023.
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.
Nortech Systems Q2 net sales $33.9M, net income down 75% YoY to $157K
Net sales $33.9M in Q2 2024, down 3.2% YoY from $35.0M.
Q1 net sales $34.2M (down 1.9% YoY); net income $765K ($0.26 EPS) vs $681K ($0.23).
Nortech Systems reports FY2023 net sales $139.3M, net income $6.9M, EBITDA up 38.2% to $8.0M
Net sales $139.3M, up 3.9% YoY; net income $6.9M ($2.38 diluted EPS), up from $2.0M ($0.70) in 2022.
Nortech Systems replaces $16M asset-backed line with $15M revolver from BofA, maturing 2027
New $15M senior secured revolving credit facility with Bank of America; maturity Feb 29, 2027.
Nortech Systems Q3 revenue down 5.4% to $33.4M; EPS $0.42 vs $0.53 prior; backlog $102M
Revenue $33.4M, down 5.4% YoY; GAAP net income $1.2M ($0.42 diluted EPS) vs $1.5M ($0.53) in Q3 2022.
CFO Christopher D. Jones resigns; Alan Nordstrom named Interim CFO
Christopher D. Jones resigned as CFO and VP of Nortech Systems, effective June 8, 2023.
Nortech Systems Q1 revenue $34.9M (+13.6%); EPS $0.23 vs $0.05; gross margin 15.7%
Revenue $34.9M, up 13.6% YoY; gross margin 15.7%, up 2.5 percentage points.
Nortech Systems Q4 revenue up 6.4% to $35.6M; full-year EBITDA $5.8M vs loss
Q4 revenue $35.6M (up 6.4% YoY); gross margin 14.3% (up from 8.0%).
Nortech Systems Q3 revenue $35.3M (+19.8%); EBITDA $2.4M, triple adjusted prior year
Revenue $35.3M (+19.8% YoY); gross margin 17.9% vs adjusted 11.4% prior year.
Nortech Systems Q1 revenue up 39% to $30.7M; net income $138k vs loss a year ago
Revenue $30.7M, up 39% YoY; net income $138k ($0.05 EPS) vs net loss ($1.6M) in Q1 2021.
Nortech Systems enters into Seventh Amendment to Loan Agreement with Bank of America
Amendment dated March 4, 2022 modifies borrowing base and adds definitions for CARES Act and Employee Retention Credits.
Nortech Systems receives full forgiveness of $6.1M PPP loan from SBA
Received notification Nov 29, 2021 that $6.1M PPP loan and accrued interest fully forgiven by SBA; forgiveness payment date Nov 3, 2021.
Nortech Systems Q3 revenue $29.5M (+11.7%), net income $3.6M on $5.2M ERC
Net sales $29.5M, up 11.7% YoY from $26.4M; net income $3.6M ($1.24 diluted) vs $2.0M ($0.73) a year ago.
Dan Sachs, a member of the Board of Directors will not stand for re-election as a member of the Board of Directors for the 2025-2026 period.
On December 22, 2023, Steven Rosenstone, a member of the Board of Directors (the “Board”) of Nortech Systems, Incorporated (the “Company”), notified the Board that he would not stand for re-election as a member of the Board for the 2024-2025 period.
Mr. LaFrence assumed the duties of chief financial officer and principal accounting officer from Alan Nordstrom.
On December 1, 2023, the Company entered into an Employment Agreement with Andrew D. C. LaFrence (the “LaFrence Agreement”) as the Company’s Chief Financial Officer and Senior Vice President of Finance effective December 1, 2023.
On October 27, 2023, Amy Fredregill and Jose Peris were appointed to the Board of Directors (the "Board") of Nortech Systems Incorporated (the "Company").
On October 27, 2023, Amy Fredregill and Jose Peris were appointed to the Board of Directors (the "Board") of Nortech Systems Incorporated (the "Company").
David Graff, a member of the Board of Directors of Nortech Systems, Incorporated (the “Company”), passed away on May 28, 2023.
On May 24, 2023, Christopher D. Jones tendered his resignation as Chief Financial Officer and Vice President of the Company, effective June 8, 2023.
The Company's Corporate Controller, Alan Nordstrom, will assume the duties of Interim CFO while the company conducts a process to identify Mr. Jones' successor.
On March 6, 2023, Philip Smith, a member of the Board of Directors (the “Board”) of Nortech Systems, Incorporated (the “Company”), notified the Board that he would not stand for re-election as a member of the Board for the 2023-2024 period.
On March 11, 2022, David J. Graff was appointed to the Board of Directors (the 'Board') of Nortech Systems Incorporated (the 'Company').
Max materiality 0.75 · Median 0.60 · Most common event earnings