Nortech Systems was founded in 1981 and is headquartered in Maple Grove, US

Nortech Systems has offices in Maple Grove, Augusta, Bemidji, Blue Earth and in 5 other locations

Maple Grove, US (HQ)

150 7550 Meridian Cir N

Eden Prairie, US

7680 Executive Dr

Ciudad Apodaca, MX

Avenida “E” 541 Parque Industrial Martel

Milaca, US

925 Enterprise Ave

Merrifield, US

12136 Crystal Lake Rd

Mankato, US

1950 Excel Dr

Nortech Systems's revenue was reported to be $28.3 m in Q1, 2017

USD

## Revenue (Q1, 2017) | 28.3 m |

## Gross profit (Q1, 2017) | 3.1 m |

## Gross profit margin (Q1, 2017), % | 11% |

## Net income (Q1, 2017) | (14.7 k) |

## EBIT (Q1, 2017) | 120.4 k |

## Market capitalization (10-Aug-2017) | 9.7 m |

## Cash (31-Mar-2017) | 205.5 k |

Nortech Systems's current market capitalization is $9.7 m.

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Revenue | 111.1 m | 112 m | 115.2 m | 116.6 m |

## Revenue growth, % | 1% | 3% | 1% | |

## Cost of goods sold | 103.1 m | 102.8 m | ||

## Gross profit | 13.1 m | 13.3 m | 12.1 m | 13.8 m |

## Gross profit Margin, % | 12% | 12% | 10% | 12% |

## Sales and marketing expense | 4.9 m | |||

## General and administrative expense | 8.3 m | |||

## Operating expense total | 11.7 m | 12 m | 12.5 m | 13.2 m |

## EBIT | 1.5 m | 1.3 m | (422 k) | 629.1 k |

## EBIT margin, % | 1% | 1% | (0%) | 1% |

## Interest expense | 465.4 k | 550.3 k | ||

## Pre tax profit | (887.4 k) | 78.8 k | ||

## Income tax expense | (316 k) | 35 k | ||

## Net Income | 787.4 k | 880 k | (571.4 k) | 43.8 k |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 26.5 m | 26.8 m | 30.4 m | 29 m | 28.9 m | 29.7 m | 28.3 m | ||

## Cost of goods sold | 23.7 m | 24.4 m | 27.5 m | 25.6 m | 25.8 m | 25.9 m | 25.2 m | ||

## Gross profit | 2.9 m | 2.4 m | 2.9 m | 3.4 m | 3.1 m | 3.8 m | 3.1 m | ||

## Gross profit Margin, % | 11% | 9% | 10% | 12% | 11% | 13% | 11% | ||

## Sales and marketing expense | 1.4 m | 1.3 m | 1.2 m | 1.3 m | 1.3 m | 1.1 m | 1.2 m | ||

## General and administrative expense | 1.7 m | 1.6 m | 1.6 m | 1.9 m | 1.9 m | 2.5 m | 2.1 m | ||

## Operating expense total | 3.1 m | 2.9 m | 2.9 m | 3.2 m | 3.2 m | 3.6 m | 3.3 m | ||

## EBIT | (201.6 k) | (483.4 k) | 22.5 k | 220.9 k | (109.9 k) | 189.8 k | 120.4 k | ||

## EBIT margin, % | (1%) | (2%) | 0% | 1% | (0%) | 1% | 0% | ||

## Interest expense | (95.2 k) | (112 k) | (134 k) | (132 k) | (139.2 k) | (139.5 k) | (139.5 k) | ||

## Pre tax profit | (296.8 k) | (595.4 k) | (199.6 k) | 88.9 k | (249.2 k) | (19.1 k) | |||

## Income tax expense | (104 k) | (217 k) | (76 k) | 26 k | (69 k) | (13 k) | (4.4 k) | ||

## Net Income | 332.9 k | 665.6 k | (192.8 k) | (571.1 k) | (694.8 k) | 62.9 k | (117.3 k) | (54 k) | (14.7 k) |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Cash | 66.4 k | 887 | 268.2 k | |

## Accounts Receivable | 16 m | 17.4 m | 18.4 m | |

## Inventories | 17.4 m | 18.5 m | 20.2 m | 20.7 m |

## Current Assets | 34.9 m | 37.7 m | 40.4 m | 39.5 m |

## PP&E | 11 m | 10.9 m | 10.5 m | 10.3 m |

## Goodwill | 3.3 m | 3.3 m | ||

## Total Assets | 46.1 m | 48.7 m | 56.6 m | 55.5 m |

## Accounts Payable | 8.2 m | 9 m | 13 m | 13.8 m |

## Total Debt | 7.3 m | |||

## Current Liabilities | 19.4 m | 13.4 m | 19.7 m | 20.3 m |

## Non-Current Liabilities | 4.8 m | 12.5 m | 14.6 m | 12.9 m |

## Total Liabilities | 24.1 m | 25.9 m | 34.3 m | 33.2 m |

## Additional Paid-in Capital | 15.7 m | 15.8 m | 15.8 m | 15.7 m |

## Retained Earnings | 6 m | 6.9 m | 6.3 m | 6.3 m |

## Total Equity | 21.9 m | 22.8 m | 22.3 m | 22.3 m |

## Debt to Equity Ratio | 0.3 x | |||

## Debt to Assets Ratio | 0.1 x | |||

## Financial Leverage | 2.1 x | 2.1 x | 2.5 x | 2.5 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 203.5 k | 47.5 k | 68.8 k | 12.2 k | 740.9 k | 13.5 k | 61.1 k | 205.5 k | |

## Accounts Receivable | 16.4 m | ||||||||

## Inventories | 19.4 m | 20.4 m | 19.5 m | 20.6 m | 21.7 m | ||||

## Current Assets | 36.2 m | 38.3 m | 38 m | 39.9 m | 42.1 m | 39.7 m | 41.3 m | 41.1 m | 40.3 m |

## PP&E | 10.9 m | 11 m | 11.3 m | 11 m | 10.8 m | 10.8 m | 10.8 m | 10.6 m | 9.7 m |

## Goodwill | 3.3 m | 3.3 m | 3.3 m | 3.3 m | 3.3 m | ||||

## Total Assets | 47.2 m | 49.4 m | 49.4 m | 51.1 m | 58.3 m | 56.2 m | 57.7 m | 57.2 m | 55.8 m |

## Accounts Payable | 9.5 m | 9.3 m | 8.8 m | 11 m | 14.3 m | 12.2 m | 14.2 m | 14.9 m | 15.3 m |

## Current Liabilities | 13.2 m | 14.3 m | 13.3 m | 15.2 m | 22 m | 19 m | 20.7 m | 20.7 m | 20.8 m |

## Non-Current Liabilities | 11.7 m | 12.5 m | 13.4 m | 13.6 m | 14.1 m | 14.8 m | 14.9 m | 14.3 m | 12.7 m |

## Additional Paid-in Capital | 15.8 m | 15.8 m | 15.8 m | 15.8 m | 15.8 m | 15.8 m | 15.7 m | 15.7 m | 15.7 m |

## Retained Earnings | 6.3 m | 6.6 m | 6.7 m | 6.3 m | 6.2 m | 6.4 m | 6.2 m | 6.2 m | 6.3 m |

## Total Equity | 22.3 m | 22.6 m | 22.6 m | 22.3 m | 22.1 m | 22.3 m | 22.1 m | 22.2 m | 22.3 m |

## Financial Leverage | 2.1 x | 2.2 x | 2.2 x | 2.3 x | 2.6 x | 2.5 x | 2.6 x | 2.6 x | 2.5 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | 787.4 k | 880 k | (571.4 k) | 43.8 k |

## Depreciation and Amortization | 2 m | 2 m | 2.2 m | 2.1 m |

## Accounts Receivable | (2.4 m) | (1.3 m) | (864.1 k) | 1.1 m |

## Inventories | 237.4 k | (1.1 m) | (1.7 m) | (489.1 k) |

## Accounts Payable | (1.1 m) | 1.1 m | 3.9 m | 817.2 k |

## Cash From Operating Activities | 275.9 k | 1.6 m | 3.4 m | 3.5 m |

## Purchases of PP&E | (1.2 m) | (2.2 m) | (1.7 m) | (2 m) |

## Cash From Investing Activities | (1.1 m) | (2.2 m) | (3.7 m) | (2 m) |

## Long-term Borrowings | (613.9 k) | (666.7 k) | (1 m) | (1.5 m) |

## Cash From Financing Activities | 871.6 k | 672.5 k | 208.1 k | |

## Interest Paid | 366.3 k | 359.7 k | 442.3 k | 499.1 k |

## Income Taxes Paid | 187.3 k | 417.6 k | 417.6 k | 110.6 k |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 332.9 k | 665.6 k | (192.8 k) | (571.1 k) | (694.8 k) | 62.9 k | (117.3 k) | (54 k) | (14.7 k) |

## Depreciation and Amortization | 999.2 k | 1.5 m | 516.7 k | 1.1 m | 1.6 m | 517.1 k | 1 m | 1.6 m | |

## Accounts Receivable | 869.6 k | 424.8 k | 957.5 k | 710.8 k | (1.6 m) | 2.2 m | 329.8 k | 743.1 k | |

## Inventories | (2 m) | (3 m) | (988.8 k) | (2.1 m) | (1.7 m) | (1.1 m) | (1.3 m) | (1.6 m) | 21.7 m |

## Accounts Payable | 1.6 m | 1.4 m | (168.2 k) | 2 m | 5.2 m | (839.1 k) | 1.2 m | 1.9 m | 15.3 m |

## Cash From Operating Activities | 1.3 m | 1.4 m | (239.6 k) | (136.8 k) | 3.9 m | 1.3 m | 1.1 m | 1.9 m | |

## Purchases of PP&E | (1.1 m) | (1.8 m) | (907.3 k) | (1.2 m) | (1.5 m) | (785.2 k) | (1.4 m) | (1.7 m) | |

## Cash From Investing Activities | (1.1 m) | (1.8 m) | (907.3 k) | (1.2 m) | (3.4 m) | (1.4 m) | (1.7 m) | ||

## Long-term Borrowings | (361.2 k) | (507 k) | (163.2 k) | (427.8 k) | (755.2 k) | (322.5 k) | (734.6 k) | (1.1 m) | |

## Cash From Financing Activities | (199.8 k) | 599.1 k | 1.1 m | 1.4 m | (535.4 k) | 209.4 k | 343.8 k | (154 k) | |

## Interest Paid | 182 k | 268.4 k | 92.3 k | 200.6 k | 320.4 k | 127.7 k | 260.6 k | 394.3 k | |

## Income Taxes Paid | 237.6 k | 417.6 k | 100 | 237.6 k | 417.6 k |

USD | Y, 2017 |
---|---|

## Revenue/Employee | 42.1 k |

## Financial Leverage | 2.5 x |

June 28, 2016

* On June 28, 2016, sent letter to nortech systems' board -
sec filing