OverviewSuggest Edit

Nortech Systems is a company that provides electronics manufacturing services (EMS) of wire and cable assemblies, printed circuit board assemblies, and box build assemblies. It offers engineering, technical, and manufacturing services and support, including project management, designing, testing, prototyping, supply chain management, and post-market services. The company caters to medical, aerospace, defense, industrial, and commercial markets.

TypePublic
Founded1990
HQMaple Grove, MN, US
Websitenortechsys.com
Employee Ratings2.7
Overall CultureF

Latest Updates

Employees (est.) (Dec 2021)728(+16%)
Job Openings24
Revenue (FY, 2021)$115.2 M(+11%)
Share Price (May 2022)$11.9(-2%)
Cybersecurity ratingBMore
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Key People/Management at Nortech

Jay D Miller

Jay D Miller

President and Chief Executive Officer, Corporate Director
Curtis J Steichen

Curtis J Steichen

Senior Vice President & Chief Sales Officer (CSO)
Chris Jones

Chris Jones

Senior Vice President and Chief Financial Officer (CFO)
John Lindeen

John Lindeen

Senior Vice President of Global Operations
Philip Smith

Philip Smith

Independent Director
Cathy Vold

Cathy Vold

Vice President of Marketing and Engineering Services
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Nortech Office Locations

Nortech has offices in Maple Grove, Bemidji, Blue Earth, Mankato and in 3 other locations
Maple Grove, MN, US (HQ)
7550 Meridian Cir N #150
Bemidji, MN, US
4050 Norris Ct NW
Blue Earth, MN, US
1930 W 1st St
Mankato, MN, US
1950 Excel Dr
Milaca, MN, US
925 Enterprise Ave
Suzhou Shi, CN
Sang Tian Jie, Wuzhong Qu
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Nortech Financials and Metrics

Nortech Revenue

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Nortech's revenue was reported to be $115.17 m in FY, 2021
USD

Revenue (FY, 2021)

115.2m

Gross profit (FY, 2021)

15.9m

Gross profit margin (FY, 2021), %

13.8%

Net income (FY, 2021)

7.2m

EBIT (FY, 2021)

2.3m

Market capitalization (13-May-2022)

31.9m

Closing stock price (13-May-2022)

11.9

Cash (31-Dec-2021)

643.0k

EV

51.7m
Nortech's current market capitalization is $31.9 m.
Annual
USDFY, 2018FY, 2019FY, 2020FY, 2021

Revenue

113.4m116.3m104.1m115.2m

Revenue growth, %

1%3%(11%)

Cost of goods sold

100.1m103.8m95.7m99.3m

Gross profit

13.3m12.6m8.5m15.9m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Revenue

28.2m27.3m30.1m27.4m26.5m26.4m22.1m30.2m29.5m

Cost of goods sold

25.2m25.0m26.4m24.4m24.0m24.7m20.5m26.6m21.4m

Gross profit

3.0m2.3m3.6m3.0m2.4m1.6m1.6m3.6m8.0m

Gross profit Margin, %

11%9%12%11%9%6%7%12%27%
Annual
USDFY, 2019FY, 2020FY, 2021

Cash

643.0k

Accounts Receivable

14.5m

Inventories

19.4m

Current Assets

51.8m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021
Annual
USDFY, 2019FY, 2020FY, 2021

Net Income

7.2m

Depreciation and Amortization

2.0m

Inventories

(4.6m)

Accounts Payable

1.5m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021
USDFY, 2018

Revenue/Employee

138.4k
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Nortech Operating Metrics

Nortech's Backlog was reported to be $36.9m in FY, 2021.
FY, 2019Aug, 2020FY, 2020FY, 2021

Backlog

$27.3 m$24.3 m$36.9 m

Backlog (Aerospace and Defense)

$7 m$5.5 m$7.6 m

Backlog (Industrial)

$5.7 m$6.3 m$8.9 m

Industries Served

3
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Nortech Acquisitions / Subsidiaries

Company NameDateDeal Size
DevicixJune 17, 2015
Winland ElectronicsJanuary 01, 2011
Trivirix Corp.May 06, 2010
Zachariah and Lundbergh Inc.August 02, 2004
Manufacturing Assembly Solutions of Monterrey, Inc.
Nortech Systems, Hong Kong Company, Limited
Nortech Systems, Suzhou Company, Limited

Nortech Revenue Breakdown

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Nortech revenue breakdown by business segment: 14.4% from Aerospace and Defense, 30.8% from Industrial and 54.7% from Medical

Human Capital Metrics

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Nortech Cybersecurity Score

Cybersecurity ratingPremium dataset

B

89/100

SecurityScorecard logo

Nortech Online and Social Media Presence

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Nortech Company Culture

  • Overall Culture

    F

    42/100

  • CEO Rating

    F

    43/100

  • Compensation

    D

    54/100

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Nortech News and Updates

An Introduction to Nortech China / Asia-Based Wire and Cable Solutions

At Nortech’s facility in Suzhou, China, we help design, prototype, and produce wire and cable assemblies of every type. This site, located about 60 miles from central Shanghai, is ISO 9001-certified and complements our existing capabilities in North America.  Nortech China is an ideal option for a c…

Mankato Panasonic SMT1

As devices get smaller, so too do the material components needed to create the electro-mechanical sub-assemblies. Nortech’s Panasonic SMT line does the work in 1/10th the time yet, along with automated inspection equipment, produces consistent high quality results. 

A Look at Molded Cable Assemblies

At our Blue Earth facility in southern Minnesota, Nortech produces molded cable assemblies, which are most often used for ruggedized aerospace and defense applications.  Molded cable assemblies provide customers a range of advantages for reliability and overall cost reduction.  It involves careful s…

Need Consistency in your Conformal Coating Application? Automate It!

Our process is infinitely repeatable which leads to a more controlled coating thickness from board toboard and from batch to batch. The post Need Consistency in your Conformal Coating Application? Automate It! appeared first on Nortech.

How Is Active Optical Changing Fiber Optic Design?

Every year, more businesses are turning to fiber optic solutions. As more applications require faster transmission rates with higher accuracy across longer distances, more design engineers, data managers, and industry SMEs question how new fiber optic applications such as Active Optical Cables diffe…

An Introduction to Nortech Mankato / PCBA Solutions

At Nortech’s Mankato, Minnesota facility, we help design, prototype and produce printed circuit board assemblies of every type. This site, located an hour south of the Twin Cities metro area, has been our Center of Excellence for PCBA manufacturing for a number of years and continues to deliver high…
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Nortech Blogs

Nortech Systems Announces Establishment of Two 10b5-1 Trading Plans

MINNEAPOLIS – Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace & defense and industrial markets, announced today that Chairman David Kunin and Chief …

Nortech Systems Announces Two New Board Members

MINNEAPOLIS – Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace & defense and industrial markets, announced today Phil Smith and Dan Sachs were recent…

Nortech Systems Announces Third-Quarter 2020 Results

MINNEAPOLIS – 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, reported net sales of $26.3 million …

Nortech Systems Names Christopher D. Jones CFO & Senior Vice President of Finance

MINNEAPOLIS – Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace & defense and industrial markets, named Christopher D. Jones as Chief Financial Office…

Nortech Systems Announces Completion of Sale-Leaseback

MINNEAPOLIS – Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace & defense and industrial markets, announced that it has completed the sale and leaseba…

Nortech Systems Announces CFO Resignation & New CFO Search

MINNEAPOLIS – Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace & defense and industrial markets, has announced today that Connie Beck has tendered he…
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Nortech Frequently Asked Questions

  • When was Nortech founded?

    Nortech was founded in 1990.

  • Who are Nortech key executives?

    Nortech's key executives are Jay D Miller, Curtis J Steichen and Chris Jones.

  • How many employees does Nortech have?

    Nortech has 728 employees.

  • What is Nortech revenue?

    Latest Nortech annual revenue is $115.2 m.

  • What is Nortech revenue per employee?

    Latest Nortech revenue per employee is $158.2 k.

  • Who are Nortech competitors?

    Competitors of Nortech include Flextronics America, The Gund Company and Superior Essex.

  • Where is Nortech headquarters?

    Nortech headquarters is located at 7550 Meridian Cir N #150, Maple Grove.

  • Where are Nortech offices?

    Nortech has offices in Maple Grove, Bemidji, Blue Earth, Mankato and in 3 other locations.

  • How many offices does Nortech have?

    Nortech has 7 offices.