Nortech Systems Incorporated
Description
Nortech Systems Incorporated provides design and manufacturing solutions for electromedical devices, electromechanical systems, assemblies, and components in the United States, Mexico, and China. It offers a range of technical and manufacturing, and support services, including project management, designing, testing, prototyping, manufacturing, supply chain management, and post-market services. The company also provides manufacturing and engineering services for medical devices, printed circuit board assemblies, wire and cable assemblies, and higher-level electromechanical assemblies. In addition, it offers engineering and repair services. The company serves original equipment manufacturers in the medical, aerospace and defense, and industrial markets through business development teams and independent manufacturers' representatives. Nortech Systems Incorporated was founded in 1990 and is headquartered in Maple Grove, Minnesota.
About
CEO
Mr. Jay Dean Miller
Employees
733
Instrument type
Common Stock
Sector
Healthcare
Industry
Medical Devices
MIC code
XNCM
Address
7550 Meridian Circle North, Maple Grove, MN 55369, United States
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![Enlarged Chart]()
Oscillators
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Summary
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Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 5, 2025 | — | — | — | — |
| Aug 6, 2025 | — | — | — | — |
| May 13, 2025 | — | — | — | — |
| Mar 19, 2025 | — | — | — | — |
| Nov 9, 2022 | — | 0.53 | — | — |
Earnings estimate
| Number of analysts | — | — | — | — |
|---|---|---|---|---|
| Average estimate | — | — | — | — |
| Low estimate | — | — | — | — |
| High estimate | — | — | — | — |
| Last year EPS | — | — | — | — |
[stock_revenue_estimate]
Growth estimates
Current qtr
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Next qtr.
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Current year
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Next year
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Next 5 years (per annum)
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Past 5 years (per annum)
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Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 139.33M | 134.12M | 115.17M | 104.11M | 116.33M |
| Cost of revenue | 116.23M | 113.64M | 99.30M | 94.44M | 103.76M |
| Gross profit | 23.10M | 20.48M | 15.86M | 9.67M | 12.58M |
| Operating expense | |||||
| Research & development | 1.20M | 1.46M | 483,000 | — | — |
| Selling general and admin | 15.95M | 15.14M | 12.36M | 11.73M | 12.35M |
| Other operating expenses | — | — | — | — | — |
| Operating income | 5.95M | 3.87M | 3.02M | -2.06M | 224,000 |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | 487,000 | 411,000 | 430,000 | 620,000 | 1.04M |
| Other income expense | — | 15,000 | 5.43M | 1.45M | — |
| Pretax income | 5.47M | 3.48M | 8.01M | -1.24M | -819,000 |
| Tax provision | -1.41M | 1.47M | 859,000 | 310,000 | 409,000 |
| Net income | 6.87M | 2.01M | 7.15M | -1.55M | -1.23M |
| Basic EPS | 2.53 | 0.75 | 2.68 | -0.58 | -0.46 |
| Diluted EPS | 2.38 | 0.70 | 2.54 | -0.58 | -0.46 |
| Basic average shares | 2.72M | 2.69M | 2.66M | 2.66M | 2.66M |
| Diluted average shares | 2.72M | 2.69M | 2.66M | 2.66M | 2.66M |
| EBITDA | 8.00M | 5.79M | 4.97M | 131,000 | 2.45M |
| Net income from continuing op. | 6.87M | 2.01M | 7.15M | -1.55M | -1.23M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 75.13M | 69.54M | 67.09M | 57.63M | 61.41M |
| Current assets | |||||
| Cash | 960,000 | 1.03M | 643,000 | 352,000 | 351,000 |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 960,000 | 1.03M | 643,000 | 352,000 | 351,000 |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 19.28M | 15.98M | 19.76M | 15.63M | 18.56M |
| Other receivables | 14.48M | 12.63M | 8.70M | 5.90M | 7.66M |
| Inventory | 21.66M | 22.44M | 19.43M | 13.92M | 14.28M |
| Prepaid assets | — | 1.33M | 1.66M | 2.03M | 2.13M |
| Restricted cash | 715,000 | 1.45M | 1.58M | 3.21M | 309,000 |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 1.70M | 1.33M | 1.66M | 2.03M | 2.13M |
| Non current assets | |||||
| Properties | 26.79M | 26.98M | 18.89M | 31.68M | 26.74M |
| Land and improvements | 148,000 | 148,000 | 148,000 | 176,000 | 360,000 |
| Machinery furniture equipment | 7.39M | 6.82M | 6.93M | 7.15M | 7.19M |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | — |
| Accumulated depreciation | -26.94M | -24.98M | -24.22M | -29.58M | -29.54M |
| Goodwill | 263,000 | 422,000 | 501,000 | 1.17M | 6.09M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 263,000 | 422,000 | 501,000 | 1.17M | 1.34M |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 2.64M | — | — | — | — |
| Total liabilities | 39.78M | 41.46M | 40.98M | 38.92M | 41.43M |
| Current liabilities | |||||
| Accounts payable | 15.92M | 14.79M | 12.71M | 11.24M | 14.01M |
| Accrued expenses | 5.20M | 6.55M | 7.95M | 5.75M | 6.36M |
| Short term debt | 1.39M | 1.55M | 1.64M | 2.55M | 1.86M |
| Deferred revenue | 4.07M | 3.52M | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 12.79M | 14.97M | 18.57M | 19.23M | 19.08M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 414,000 | 95,000 | 104,000 | 146,000 | 118,000 |
| Shareholders equity | |||||
| Common stock | 27,000 | 27,000 | 27,000 | 27,000 | 27,000 |
| Retained earnings | 18.67M | 11.83M | 9.82M | 2.66M | 4.21M |
| Other shareholders equity | -532,000 | -370,000 | 56,000 | -37,000 | -257,000 |
| Total shareholders equity | 35.34M | 28.08M | 26.11M | 18.72M | 19.98M |
| Additional paid in capital | 16.93M | 16.35M | 15.96M | 15.82M | 15.75M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||||||||
| Net Income | 6.87M | 2.01M | 7.15M | -1.55M | -1.23M | 166,000 | -2.45M | 43,774 | -571,422 | 880,017 | 787,376 | 629,438 | 1.19M | 506,766 | -3.84M | 1.75M | 1.58M | 1.31M | 928,781 | 587,329 | 633,448 | 2.40M | 2.10M | 2.04M | -1.99M | 329,867 | 677,671 | 400,000 | 1.30M | 1.20M | 1.00M |
| Depreciation | 2.05M | 1.92M | 1.95M | 2.19M | 2.22M | 2.19M | 2.50M | 2.30M | 2.26M | 2.03M | 2.01M | 1.86M | 2.04M | 1.70M | 1.92M | 1.88M | 1.82M | 1.60M | 1.58M | 1.50M | 1.64M | 1.38M | 1.18M | 1.07M | 940,101 | 874,360 | 914,264 | 700,000 | 400,000 | 200,000 | 200,000 |
| Deferred Taxes | -2.36M | — | — | — | 20,000 | 1,000 | 439,000 | -202,000 | -54,501 | 114,000 | 229,000 | -96,000 | 279,000 | 288,000 | 188,000 | -11,600 | -144,400 | -42,000 | -221,000 | 166,000 | -44,000 | 439,000 | 22,000 | 808,000 | 556,000 | 71,000 | 209,000 | 100,000 | -100,000 | -300,000 | -300,000 |
| Stock-Based Compensation | 423,000 | 334,000 | 111,000 | 68,000 | 261,000 | 126,000 | 43,000 | 994 | 3,309 | 29,927 | 12,841 | — | 27,044 | 31,728 | 128,047 | 277,862 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | — | — | 143,000 | 108,000 | 116,000 | — | -508,000 | -331,773 | -69,338 | 178,566 | 86,844 | 127,000 | -18,140 | 478,994 | 447,562 | 21,886 | 272,261 | 188,259 | — | — | — | — | — | — | — | — | — | 100,000 | 100,000 | 100,000 | — |
| Accounts Receivable | -6.13M | 188,000 | -6.87M | 4.10M | 586,000 | -2.82M | 547,000 | 600,562 | -700,346 | -1.66M | -2.56M | 3.11M | 924,480 | -1.39M | -949,362 | 1.62M | 1.11M | -46,228 | -1.09M | -2.45M | -3.16M | 1.57M | -529,939 | -3.15M | -780,063 | -416,086 | -822,623 | -1.80M | -400,000 | 400,000 | -500,000 |
| Accounts Payable | 483,000 | 2.22M | 1.47M | -2.95M | -3.68M | 6.03M | -2.12M | 817,227 | 3.94M | 1.12M | -1.14M | -2.21M | -1.17M | 1.67M | -1.70M | -645,776 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | 1.27M | -2.44M | -3.98M | -216,000 | 2.46M | -3.86M | 870,668 | 150,392 | -1.66M | -1.10M | 237,392 | 1.36M | -3.33M | 1.13M | 4.90M | -1.15M | -156,108 | -292,872 | -391,993 | -1.69M | -24,640 | -1.34M | -849,414 | -1.55M | -214,745 | -733,007 | -1.32M | -100,000 | -1.00M | 200,000 | -300,000 |
| Operating Cash Flow | 2.61M | 4.23M | -24,000 | 1.76M | 753,000 | 1.83M | -668,332 | 3.37M | 3.14M | 1.59M | -336,852 | 4.79M | -63,326 | 4.41M | 1.10M | 3.75M | 4.48M | 2.72M | 806,751 | -1.88M | -951,460 | 4.45M | 1.93M | -785,734 | -1.49M | 126,134 | -338,883 | -600,000 | 300,000 | 1.80M | 100,000 |
| Investing Activities | |||||||||||||||||||||||||||||||
| Capital Expenditures | -1.28M | -2.36M | -666,000 | 5.53M | -719,000 | -1.39M | -144,000 | -1.95M | -1.68M | -2.19M | -1.15M | -4.40M | -1.13M | -626,630 | -504,109 | -2.30M | -1.51M | -2.98M | -1.43M | -1.42M | 8,450 | 400 | — | -731,860 | -1.07M | -456,051 | -452,936 | -2.30M | -3.40M | -200,000 | -400,000 |
| Net Intangibles | — | -71,000 | -64,000 | -34,000 | -39,000 | -4,000 | -114,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | -1.99M | — | — | — | -1.54M | -402,969 | — | — | -4.81M | — | — | — | -1.42M | -1.73M | -711,968 | — | — | -356,839 | — | — | — | — | — |
| Purchase of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Sale of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing Cash Flow | -1.28M | -2.36M | -666,000 | 5.53M | -719,000 | -1.39M | -144,000 | -1.95M | -3.67M | -2.19M | -1.15M | -4.40M | -2.67M | -1.03M | -76,609 | -2.30M | -6.32M | -3.41M | -1.43M | -1.42M | -1.41M | -1.73M | -711,968 | -481,860 | -1.07M | -1.11M | -452,936 | -2.30M | -3.50M | -200,000 | -400,000 |
| Financing Activities | |||||||||||||||||||||||||||||||
| Long-Term Debt Issuance | 124.55M | 119.35M | 109.54M | 6.08M | — | 761,000 | 6.31M | 466,000 | 1.57M | 1.36M | 2.17M | 1.71M | 5.11M | — | 1.74M | 496,953 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -125.99M | -122.07M | -105.65M | -3.28M | -1.23M | -1.37M | -6.05M | -1.84M | -1.33M | -666,749 | -1.30M | -1.94M | -1.79M | -2.01M | -1.37M | -2.44M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Financing Charges | — | — | — | — | — | — | -267,000 | -25,149 | -43,264 | -17,000 | — | — | — | — | — | — | 10,568 | 23,627 | — | — | -50,000 | 242,000 | — | — | — | -100,000 | — | -100,000 | — | — | — |
| Financing Cash Flow | -1.44M | -2.72M | 9.58M | -3.96M | -532,000 | -889,000 | -38,000 | -1.39M | -98,885 | 1.44M | 183,078 | -1.65M | 7.05M | -1.88M | 1.49M | -3.08M | 211,668 | 150,605 | 188,305 | 22,013 | -25,610 | 357,225 | 21,364 | 14,250 | — | -100,000 | -15,040 | -600,000 | — | — | -100,000 |
| Other Cash Details | |||||||||||||||||||||||||||||||
| End Cash Position | 1.68M | 2.48M | 2.23M | 3.56M | 660,000 | 947,000 | 779,000 | 268,204 | 887 | 66,371 | — | — | — | 230,582 | 245,381 | 803,041 | 888,036 | 725,891 | 840,123 | 555,783 | 101,179 | 448,751 | 181,730 | 527,998 | 453,500 | 375,528 | 913,862 | — | — | — | — |
| Income Tax Paid | 1.75M | 237,000 | — | 855,000 | 194,000 | 335,000 | 20,000 | 110,590 | — | 417,615 | 187,300 | 111,803 | 40,058 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 503,000 | 476,000 | 316,000 | 577,000 | 980,000 | 719,000 | 538,000 | 499,111 | 442,259 | 359,727 | 366,335 | 384,558 | 511,328 | 450,180 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 485,000 | 2.96M | -5.90M | 844,000 | 239,000 | 1.04M | -121,000 | 1.58M | 1.70M | -606,331 | -928,742 | 188,824 | -2.14M | 2.26M | -1.53M | 1.71M | 2.83M | -138,262 | 3.69M | -1.78M | -288,460 | 2.88M | 1.05M | -83,511 | 928,453 | -214,449 | -297,747 | -2.40M | -2.90M | 1.20M | -400,000 |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| RBC Fds Tr-RBC Micro Cap Value Fd | Sep 30, 2024 | 12,900 | 135,063 | 0.47% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 9,278 | 97,140 | 0.34% |
| DFA U.S. Targeted Value Portfolio | Oct 31, 2024 | 5,183 | 54,266 | 0.19% |
| Fidelity Extended Market Index Fund | Nov 30, 2024 | 5,340 | 55,909 | 0.19% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 4,884 | 51,135 | 0.18% |
| Nationwide Bailard Cognitive Value Fd | Oct 31, 2024 | 4,400 | 46,068 | 0.16% |
| Dimensional ETF Tr-Dimensional U.S. Targeted Value ETF | Oct 31, 2024 | 3,969 | 41,555 | 0.14% |
| DFA U.S. Social Core Equity 2 Portfolio | Oct 31, 2024 | 3,549 | 37,158 | 0.13% |
| iShares Micro Cap ETF | Nov 30, 2024 | 2,192 | 22,950 | 0.08% |
| Fidelity Series Total Market Index Fund | Nov 30, 2024 | 1,329 | 13,914 | 0.05% |
Article
Nortech Systems Incorporated (NSYS) Q3 2024 Earnings Call Transcript
Nortech Systems Incorporated (NASDAQ:NSYS ) Q3 2024 Earnings Conference Call November 7, 2024 8:30 AM ET Company Participants Andrew LaFrence - Chief Financial Officer and Senior Vice President of Finance Jay Miller - President and Chief Executive Officer Conference Call Participants Operator Good morning, ladies and gentlemen, and welcome to the Nortech Systems Incorporated Third Quarter 2024 Earnings Conference Call. With me on the line today are Jay Miller, President and Chief Executive Officer; and Andrew LaFrence, Chief Financial Officer and Senior Vice President of Finance.
Nov 9, 2024
Article
Nortech Systems Reports Third Quarter Results
MINNEAPOLIS, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Nortech Systems Incorporated (Nasdaq: NSYS) (“Nortech” or the “Company”), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, industrial and defense markets, reported financial results for the third quarter ended September 30, 2024.
Nov 7, 2024
Article
Nortech Systems Incorporated to Report Third Quarter 2024 Financial Results and Hold a Conference Call on November 7, 2024
MINNEAPOLIS, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Nortech Systems Incorporated (Nasdaq: NSYS) (the “Company”), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace & defense and industrial markets, will hold a live conference call and webcast at 7:30 a.m. Central Time on Thursday, November 7, 2024, to discuss the Company's third quarter financial results. The call will be hosted by Jay D. Miller, Chief Executive Officer and President, and Andrew D. C. LaFrence, Chief Financial Officer. To access the live audio conference call, US participants may call 888-506-0062 and international participants may call 973-528-0011. Participant Access Code: 277848. Participants may also access the call via webcast at: https://www.webcaster4.com/Webcast/Page/2814/51403 .
Oct 24, 2024
