NORTECH SYSTEMS INC

For the period ended Sep 30, 2024. Filed Nov 7, 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.

Sep 30, 2024 · Filed Nov 7, 2024

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

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Contents

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income

(IN THOUSANDS, EXCEPT SHARE DATA)

THREE MONTHS ENDED · NINE MONTHS ENDED
	SEPTEMBER 30,		SEPTEMBER 30,
	2024	2023	2024	2023
Net sales	$31,407	$33,369	$99,513	$103,278
Cost of goods sold	27,572	28,050	85,613	87,001
Gross profit	3,835	5,319	13,900	16,277
Operating expenses:
Selling	891	923	2,605	2,766
General and administrative	2,951	2,958	9,103	9,328
Research and development	284	314	893	907
Restructuring charges	176	-	267	-
Total operating expenses	4,302	4,195	12,868	13,001
(Loss) income from operations	(467)	1,124	1,032	3,276
Other expense:
Interest expense	(216)	(130)	(548)	(365)
(Loss) income before income taxes	(683)	994	484	2,911
Income tax expense (benefit)	56	(213)	301	389
Net (loss) income	$(739)	$1,207	$183	$2,522
Net (loss) income per common share:
Basic (in dollars per share)	$(0.27)	$0.44	$0.07	$0.93
Weighted average number of common shares outstanding - basic (in shares)	2,760,438	2,737,895	2,754,399	2,716,166
Diluted (in dollars per share)	$(0.27)	$0.42	$0.06	$0.87
Weighted average number of common shares outstanding - diluted (in shares)	2,760,438	2,888,679	2,931,343	2,887,889
Other comprehensive (loss) income
Foreign currency translation	223	(77)	(135)	(318)
Comprehensive (loss) income, net of tax	$(516)	$1,130	$48	$2,204

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.