NORTECH SYSTEMS INC

For the period ended Jun 30, 2025. Filed Aug 7, 2025.

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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.

Jun 30, 2025 · Filed Aug 7, 2025

NSYS$10.54-5.9%Stored close · as of Nov 9, 2026

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Contents

Condensed Consolidated Balance Sheets

NORTECH SYSTEMS INCORPORATED AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(IN THOUSANDS, EXCEPT SHARE DATA)

	JUNE 30, 2025	DECEMBER 31, 2024
ASSETS
Current assets:
Cash	$652	$916
Accounts receivable, less allowances of $206 and $196, respectively	17,810	14,875
Inventories, net	18,628	21,638
Contract assets	14,984	13,792
Assets held for sale	495	-
Prepaid assets and other assets	5,749	4,094
Total current assets	58,318	55,315
Property and equipment, net	5,443	6,232
Operating lease assets, net	7,563	8,139
Deferred tax assets	3,275	2,575
Other intangible assets, net	165	174
Other assets	61	-
Total assets	$74,825	$72,435
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$11,931	$11,582
Accrued payroll and commissions	1,752	1,841
Customer deposits	5,176	5,140
Current portion of operating lease obligations	1,237	1,175
Current portion of finance lease obligations	229	143
Notes payable	-	344
Other accrued liabilities	1,283	1,203
Total current liabilities	21,608	21,428
Long-term liabilities:
Long-term line of credit	11,615	8,634
Long-term operating lease obligations, net of current portion	7,145	7,773
Long-term finance lease obligations, net of current portion	781	311
Other long-term liabilities	288	284
Total long-term liabilities	19,829	17,002
Total liabilities	41,437	38,430
Shareholders’ equity:
Preferred stock, $1 par value; 1,000,000 shares authorized; 250,000 shares issued and outstanding	250	250
Common stock - $0.01 par value; 9,000,000 shares authorized; 2,780,134 and 2,760,793 shares issued and outstanding, respectively	28	28
Additional paid-in capital	17,585	17,329
Accumulated other comprehensive loss	(847)	(977)
Retained earnings	16,372	17,375
Total shareholders’ equity	33,388	34,005
Total liabilities and shareholders’ equity	$74,825	$72,435

See Accompanying Notes to Condensed Consolidated Financial Statements.

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