NORTECH SYSTEMS INC

For the period ended Jun 30, 2024. Filed Aug 8, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 8, 2024

NSYS$10.69+1.4%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Income and Comprehensive Income (Loss)

(IN THOUSANDS, EXCEPT SHARE DATA)

THREE MONTHS ENDED · SIX MONTHS ENDED
	JUNE 30,		JUNE 30,
	2024	2023	2024	2023
Net sales	$33,891	$35,021	$68,106	$69,909
Cost of goods sold	29,274	29,547	58,041	58,951
Gross profit	4,617	5,474	10,065	10,958
Operating expenses:
Selling	909	953	1,714	1,843
General and administrative	2,982	3,105	6,152	6,370
Research and development	291	317	609	593
Restructuring charges	91	-	91	-
Total operating expenses	4,273	4,375	8,566	8,806
Income from operations	344	1,099	1,499	2,152
Other expense:
Interest expense	(165)	(125)	(332)	(235)
Income before income taxes	179	974	1,167	1,917
Income tax expense	22	340	245	602
Net income	$157	$634	$922	$1,315
Net income per common share:
Basic (in dollars per share)	$0.06	$0.23	$0.34	$0.49
Weighted average number of common shares outstanding - basic (in shares)	2,760,052	2,718,066	2,751,330	2,705,121
Diluted (in dollars per share)	$0.05	$0.22	$0.32	$0.46
Weighted average number of common shares outstanding - diluted (in shares)	2,935,671	2,870,848	2,922,113	2,887,313
Other comprehensive income (loss)
Foreign currency translation	(175)	(281)	(358)	(241)
Comprehensive income (loss), net of tax	$(18)	$353	$564	$1,074

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.