Nortech Systems, Inc., is a full-service electronics manufacturing services provider of wire and cable assemblies, printed circuit board assemblies and diagnostic repair and integration services including, higher-level assemblies and box builds for a wide range of industries. Markets served include medical, automotive, aerospace, computer peripheral, commercial, telecom, government and consumer. Nortech Systems has a range of specialized, high-tech facilities used for customized design, manufacture, testing and repair of its solutions.

Employee Rating

2.1More
TypePublic
HQMaple Grove, US
Founded1981
Size (employees)722 (est)+8%
Websitenortechsys.com
Nortech Systems was founded in 1981 and is headquartered in Maple Grove, US
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Key People/Management at Nortech Systems

David B. Kunin

David B. Kunin

Director
Kathleen Iverson

Kathleen Iverson

Independent Director
Michael Kennedy

Michael Kennedy

Independent Director
Ryan McManus

Ryan McManus

Independent Director
Jay D. Miller

Jay D. Miller

Independent Director
Steven J. Rosenstone

Steven J. Rosenstone

Independent Director
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Nortech Systems Office Locations

Nortech Systems has offices in Maple Grove, Merrifield, Mankato, Eden Prairie and in 5 other locations
Maple Grove, (HQ)
150 7550 Meridian Cir N
Augusta,
750 Industrial Dr
Bemidji,
4050 Norris Ct NW
Blue Earth,
1930 W 1st St
Eden Prairie,
7680 Executive Dr
Mankato,
1950 Excel Dr
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Nortech Systems Financials and Metrics

Nortech Systems Revenue

Nortech Systems's revenue was reported to be $112.33 m in FY, 2017
USD

Revenue (Q3, 2018)

29.6m

Gross profit (Q3, 2018)

3.4m

Gross profit margin (Q3, 2018), %

11.5%

Net income (Q3, 2018)

364.0k

EBIT (Q3, 2018)

649.0k

Market capitalization (4-Dec-2018)

13.4m

Closing stock price (4-Dec-2018)

5.0

Cash (30-Sep-2018)

397.0k

EV

17.6m
Nortech Systems's current market capitalization is $13.4 m.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

111.1m112.0m115.2m116.6m112.3m

Revenue growth, %

1%3%1%

Cost of goods sold

97.9m103.1m102.8m100.2m

Gross profit

13.1m12.1m13.8m12.1m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

27.4m26.1m27.4m28.0m26.5m26.8m30.4m29.0m28.9m29.7m28.3m30.1m28.3m26.4m28.5m29.6m

Cost of goods sold

24.4m23.1m24.1m24.5m23.7m24.4m27.5m25.6m25.8m25.9m25.2m26.8m24.8m23.4m24.7m26.2m

Gross profit

3.0m3.1m3.3m3.5m2.9m2.4m2.9m3.4m3.1m3.8m3.1m3.4m3.5m3.0m3.8m3.4m

Gross profit Margin, %

11%12%12%13%11%9%10%12%11%13%11%11%12%11%13%11%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

66.4k887.0268.2k472.9k

Accounts Receivable

16.0m17.4m18.4m

Inventories

17.4m18.5m20.2m20.7m18.5m

Current Assets

34.9m37.7m40.4m39.5m37.8m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

482.6k336.2k203.5k47.5k68.8k12.2k740.9k13.5k61.1k205.5k190.7k530.8k466.0k437.0k397.0k

Accounts Receivable

16.4m

Inventories

18.6m18.8m19.4m20.4m19.5m20.6m21.7m21.6m21.1m13.0m14.0m15.2m

Current Assets

36.0m36.1m36.2m38.3m38.0m39.9m42.1m39.7m41.3m41.1m40.3m40.7m41.8m39.1m41.8m43.3m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

787.4k880.0k(571.4k)43.8k(2.4m)

Depreciation and Amortization

2.0m2.0m2.3m2.3m2.5m

Inventories

237.4k(1.1m)(1.7m)(489.1k)2.0m

Accounts Payable

(1.1m)1.1m3.9m817.2k(2.1m)
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

546.2k86.2k332.9k665.6k(192.8k)(571.1k)(694.8k)62.9k(117.3k)(54.0k)(14.7k)(30.3k)13.1k(391.0k)(2.0k)362.0k

Depreciation and Amortization

1.5m498.7k1.0m1.5m516.7k1.1m1.7m564.8k1.1m1.7m594.9k1.2m1.9m561.0k1.1m1.7m

Inventories

(983.5k)(1.4m)(2.0m)(3.0m)(988.8k)(2.1m)(1.7m)(1.1m)(1.3m)(1.6m)(1.0m)(1.2m)(686.4k)229.0k(594.0k)(2.0m)

Accounts Payable

(650.8k)640.2k1.6m1.4m(168.2k)2.0m5.2m(839.1k)1.2m1.9m1.5m1.3m823.7k317.0k3.7m4.9m
USDY, 2018

EV/EBIT

27.1 x

EV/CFO

6.9 x

Financial Leverage

2.7 x
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Nortech Systems Online and Social Media Presence

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Nortech Systems News and Updates

Nortech Systems CEO Rich Wasielewski Announces His Retirement

MINNEAPOLIS – Rich Wasielewski, president and CEO of Nortech Systems, Inc. read more
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Nortech Systems Blogs

Nortech Systems Reports Third Quarter Results

MINNEAPOLIS – Nortech Systems Inc. (NASDAQ: NSYS) today reported net sales of $29.6 million for the third quarter ended September 30, which includes $1.9 million of revenue recognized under new FASB accounting guidelines adopted this fiscal year. This compares with $28.3 million reported for the thi…

Nortech Systems to Report Third Quarter Results November 14

Quarterly Conference Call November 15 at 10:00 a.m. (CT) 877-407-0782 MINNEAPOLIS – Nortech Systems Incorporated (NASDAQ: NSYS) will hold a conference call at 10:00 a.m. (CT) on Thursday, November 15, 2018, to discuss the company’s third quarter results, which will be released on November 14. Anyone…

Nortech Systems’ Intercon 1 Enters Agreement with Northwire

Company to Manufacture Northwire’s Machine Vision Cable Assemblies MINNEAPOLIS – Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of full-service electronics manufacturing services (EMS), announced that Intercon 1 will take over manufacturing of discontinued machine vision cable assem…

Nortech Systems Announces Stock Repurchase Program

MINNEAPOLIS – Nortech Systems Incorporated (NASDAQ: NSYS), a leading provider of full-service electronics manufacturing services (EMS), announced that its board of directors has approved another installment of a stock repurchase program similar to the company’s inaugural repurchase program that expi…

Nortech Systems’ CEO Rich Wasielewski Announces His Retirement

Board of Directors to Conduct National Search for New CEO MINNEAPOLIS – Rich Wasielewski, president and CEO of Nortech Systems, Inc. (NASDAQ: NSYS), today announced he will be retiring. Nortech Systems’ board of directors has retained an executive recruitment firm to assist in its national search to…

Nortech Systems Reports Second Quarter Results

Company Posts Sequential Gains in Revenue and Operating Profits MINNEAPOLIS – Nortech Systems Incorporated (NASDAQ: NSYS) today reported net sales of $28.5 million for the second quarter ended June 30, 2018, which includes $1.6 million of revenue recognized under new FASB accounting guidelines adopt…
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Nortech Systems Company Life and Culture

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Nortech Systems Frequently Asked Questions

  • When was Nortech Systems founded?

    Nortech Systems was founded in 1981.

  • Who are Nortech Systems key executives?

    Nortech Systems's key executives are David B. Kunin, Kathleen Iverson and Michael Kennedy.

  • How many employees does Nortech Systems have?

    Nortech Systems has 722 employees.

  • What is Nortech Systems revenue?

    Latest Nortech Systems annual revenue is $112.3 m.

  • What is Nortech Systems revenue per employee?

    Latest Nortech Systems revenue per employee is $155.6 k.

  • Who are Nortech Systems competitors?

    Competitors of Nortech Systems include Windy City Wire, C D International Technology and The First Electronics Corporation.

  • Where is Nortech Systems headquarters?

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

  • Where are Nortech Systems offices?

    Nortech Systems has offices in Maple Grove, Merrifield, Mankato, Eden Prairie and in 5 other locations.

  • How many offices does Nortech Systems have?

    Nortech Systems has 9 offices.