OverviewSuggest Edit

Nortech Systems is an electronics manufacturing services (EMS) provider 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, manufacturing, supply chain management, and post-market services. The company caters to medical, aerospace, defense, industrial, and commercial markets.

TypePublic
Founded1990
HQMaple Grove, US
Websitenortechsys.com
Employee Ratings1.8
Overall CultureF

Latest Updates

Employees (est.) (Dec 2019)784(-4%)
Job Openings13
Revenue (FY, 2019)$116.3 M(+3%)
Share Price (Nov 2020)$4.3 (-3%)
Cybersecurity ratingCMore

Key People/Management at Nortech Systems

Jay D. Miller

Jay D. Miller

President & CEO, Inside Director
John Lindeen

John Lindeen

Senior VP of Global Operations
Curtis J. Steichen

Curtis J. Steichen

Senior VP of Sales
Heidi Grange

Heidi Grange

Senior VP of Human Resources
Connie Beck

Connie Beck

Vice President & CFO
David B. Kunin

David B. Kunin

Chairman
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Nortech Systems Office Locations

Nortech Systems has offices in Maple Grove, Bemidji, Blue Earth, Mankato and in 4 other locations
Maple Grove, US (HQ)
7550 Meridian Cir N #150
Bemidji, US
4050 Norris Ct NW
Blue Earth, US
1930 W 1st St
Mankato, US
1950 Excel Dr
Merrifield, US
12136 Crystal Lake Rd
Milaca, US
925 Enterprise Ave
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Nortech Systems Financials and Metrics

Nortech Systems Revenue

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Nortech Systems's revenue was reported to be $116.33 m in FY, 2019 which is a 2.6% increase from the previous period.
USD

Revenue (Q2, 2020)

26.5m

Gross profit (Q2, 2020)

2.4m

Gross profit margin (Q2, 2020), %

9.2%

Net income (Q2, 2020)

(123.0k)

EBIT (Q2, 2020)

49.0k

Market capitalization (20-Nov-2020)

11.8m

Closing stock price (20-Nov-2020)

4.3

Cash (30-Jun-2020)

345.0k

EV

31.8m
Nortech Systems's current market capitalization is $11.8 m.
Annual
USDFY, 2017FY, 2018FY, 2019

Revenue

112.3m113.4m116.3m

Revenue growth, %

1%3%

Cost of goods sold

100.2m100.1m103.8m

Gross profit

12.1m13.3m12.6m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Revenue

28.3m30.1m28.3m26.4m28.5m29.6m28.2m27.3m30.1m27.4m26.5m

Cost of goods sold

25.2m26.8m24.8m23.4m24.7m26.2m25.2m25.0m26.4m24.4m24.0m

Gross profit

3.1m3.4m3.5m3.0m3.8m3.4m3.0m2.3m3.6m3.0m2.4m

Gross profit Margin, %

11%11%12%11%13%11%11%9%12%11%9%
Annual
USDFY, 2017FY, 2018FY, 2019

Cash

472.9k480.0k351.0k

Accounts Receivable

17.4m20.1m18.6m

Prepaid Expenses

815.0k1.4m2.1m

Inventories

18.5m17.0m14.3m
Quarterly
Annual
USDFY, 2017FY, 2018FY, 2019

Net Income

(2.4m)166.0k(1.2m)

Depreciation and Amortization

2.5m2.2m2.2m

Inventories

2.0m(3.9m)2.3m

Accounts Payable

(2.1m)6.0m(3.7m)
USDQ1, 2017

Revenue/Employee

36.2k

Debt/Equity

0.6 x

Debt/Assets

0.2 x

Financial Leverage

2.5 x
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Nortech Systems Operating Metrics

Nortech Systems's Backlog was reported to be $27.3m in FY, 2019.
FY, 2017FY, 2018FY, 2019Aug, 2020

Backlog

$19.44 m$27.40 m$27.30 m

Backlog (Aerospace and Defense)

$4.97 m$6 m$7 m

Backlog (Industrial)

$8.17 m$7.10 m$5.70 m

Industries Served

3
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Nortech Systems Acquisitions / Subsidiaries

Company NameDateDeal Size
DevicixJune 17, 2015
EMS assets of Winland Electronics IncNovember 16, 2010
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 Systems Revenue Breakdown

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Nortech Systems revenue breakdown by business segment: 15.7% from Aerospace and Defense, 53.8% from Medical and 30.5% from Industrial

Human Capital Metrics

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Nortech Systems Cybersecurity Score

Cybersecurity ratingPremium dataset

C

73/100

SecurityScorecard logo

Nortech Systems Online and Social Media Presence

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Nortech Systems Company Culture

  • Overall Culture

    F

    20/100

  • CEO Rating

    F

    35/100

  • Compensation

    F

    28/100

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Nortech Systems News and Updates

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

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 Officer and Senior V…

Nortech Systems CEO Rich Wasielewski Announces His Retirement

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

Nortech Systems Blogs

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…

Nortech Systems Announces Second-Quarter 2020 Results, Sale-Leaseback and Plant Consolidation

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, reported net sales of $26.5 million for the second q…

Nortech Systems Reports First Quarter 2020 Results

MINNEAPOLIS – Nortech Systems Incorporated (Nasdaq: NSYS), a leading provider of engineering and manufacturing solutions for complex electromechanical products serving the medical, industrial and aerospace and defense markets, reported net sales of $27.4 million for the three months ended March 31, …
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Nortech Systems Frequently Asked Questions

  • When was Nortech Systems founded?

    Nortech Systems was founded in 1990.

  • Who are Nortech Systems key executives?

    Nortech Systems's key executives are Jay D. Miller, John Lindeen and Curtis J. Steichen.

  • How many employees does Nortech Systems have?

    Nortech Systems has 784 employees.

  • What is Nortech Systems revenue?

    Latest Nortech Systems annual revenue is $116.3 m.

  • What is Nortech Systems revenue per employee?

    Latest Nortech Systems revenue per employee is $148.4 k.

  • Who are Nortech Systems competitors?

    Competitors of Nortech Systems include Universal Instruments, Samtec and Sumi Indo Kabel.

  • Where is Nortech Systems headquarters?

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

  • Where are Nortech Systems offices?

    Nortech Systems has offices in Maple Grove, Bemidji, Blue Earth, Mankato and in 4 other locations.

  • How many offices does Nortech Systems have?

    Nortech Systems has 8 offices.