NORTECH SYSTEMS INC
For the period ended Mar 31, 2026. Filed May 13, 2026.
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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.
Mar 31, 2026 · Filed May 13, 2026
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended March 31,2026
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
NORTECH SYSTEMS INCORPORATED
Commission file number0-13257
State of Incorporation:Minnesota
IRS Employer Identification No.41-1681094
Executive Offices:7550 Meridian Circle N., Suite # 150, Maple Grove, MN 55369
Telephone number:(952) 345-2244
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $.01 per share | NSYS | NASDAQ Capital Market |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No**☐**
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulations S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No**☐**
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large Accelerated Filer ☐ | Accelerated Filer ☐ |
|---|---|
| Non-accelerated Filer ☒ | Smaller Reporting Company ☒ |
| Emerging growth company ☐ | |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes**☐** No**☒**
Number of shares of $0.01 par value common stock outstanding as of May 6, 2026 was 2,794,534.
TABLE OF CONTENTS
| PAGE | |
|---|---|
| PART I – FINANCIAL INFORMATION | |
| Item 1 - Financial Statements | |
| Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) | 3 |
| Condensed Consolidated Balance Sheets | 4 |
| Condensed Consolidated Statements of Cash Flows | 5-6 |
| Condensed Consolidated Statements of Shareholders’ Equity | 7 |
| Notes to Condensed Consolidated Financial Statements | 8-17 |
| Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations | 18 |
| Item 3 - Quantitative and Qualitative Disclosures About Market Risk | 22 |
| Item 4 - Controls and Procedures | 22 |
| PART II – OTHER INFORMATION | |
| Item 1 - Legal Proceedings | 23 |
| Item 1A. - Risk Factors | 23 |
| Item 2 - Unregistered Sales of Equity Securities, Use of Proceeds | 23 |
| Item 3 - Defaults on Senior Securities | 23 |
| Item 4 - Mine Safety Disclosures | 23 |
| Item 5 - Other Information | 23 |
| Item 6 - Exhibits | 23 |
| SIGNATURES | 24 |
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