$9.3 M

NSYS Mkt cap, 22-Jun-2018

$26.4 M

Nortech Systems Revenue Q1, 2018
Nortech Systems Gross profit (Q1, 2018)3 M
Nortech Systems Gross profit margin (Q1, 2018), %11.4%
Nortech Systems Net income (Q1, 2018)-391 K
Nortech Systems EBIT (Q1, 2018)-120 K
Nortech Systems Cash, 31-Mar-2018466 K
Nortech Systems EV14 M

Nortech Systems Financials

Nortech Systems Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

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

Revenue growth, %

1%3%1%

Cost of goods sold

103.1 m102.8 m100.2 m

Gross profit

12.1 m13.8 m12.1 m

Gross profit Margin, %

10%12%11%

Sales and marketing expense

4.9 m4.7 m

General and administrative expense

8.3 m8.1 m

Operating expense total

13.2 m13.4 m

EBIT

1.5 m1.3 m(422 k)629.1 k(1.3 m)

EBIT margin, %

1%1%0%1%(1%)

Interest expense

465.4 k550.3 k627.6 k

Pre tax profit

(887.4 k)78.8 k(2.1 m)

Income tax expense

(316 k)35 k375 k

Net Income

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

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Revenue

26.5 m26.8 m30.4 m29 m28.9 m29.7 m28.3 m30.1 m26.4 m

Cost of goods sold

23.7 m24.4 m27.5 m25.6 m25.8 m25.9 m25.2 m26.8 m23.4 m

Gross profit

2.9 m2.4 m2.9 m3.4 m3.1 m3.8 m3.1 m3.4 m3 m

Gross profit Margin, %

11%9%10%12%11%13%11%11%11%

Sales and marketing expense

1.4 m1.3 m1.2 m1.3 m1.3 m1.1 m1.2 m1.3 m1 m

General and administrative expense

1.7 m1.6 m1.6 m1.9 m1.9 m2.5 m2.1 m1.9 m2.1 m

Operating expense total

3.1 m2.9 m2.9 m3.2 m3.2 m3.6 m3 m3.3 m3.1 m

EBIT

(201.6 k)(483.4 k)22.5 k220.9 k(109.9 k)189.8 k120.4 k94.7 k(120 k)

EBIT margin, %

(1%)(2%)0%1%0%1%0%0%0%

Interest expense

95.2 k112 k134 k132 k139.2 k139.5 k139.5 k141.5 k172 k

Pre tax profit

(296.8 k)(595.4 k)(199.6 k)88.9 k(249.2 k)(19.1 k)(221.6 k)(292 k)

Income tax expense

(104 k)(217 k)(76 k)26 k(69 k)(13 k)(4.4 k)(206 k)99 k

Net Income

332.9 k665.6 k(192.8 k)(378.4 k)(123.6 k)62.9 k(180.2 k)(54 k)(14.7 k)(15.7 k)(391 k)

Nortech Systems Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

66.4 k887 268.2 k472.9 k

Accounts Receivable

16 m17.4 m18.4 m

Inventories

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

Current Assets

34.9 m37.7 m40.4 m39.5 m37.8 m

PP&E

11 m10.9 m10.5 m10.3 m10.2 m

Goodwill

3.3 m3.3 m2.4 m

Total Assets

46.1 m48.7 m56.6 m55.5 m52.1 m

Accounts Payable

8.2 m9 m13 m13.8 m11.7 m

Short-term debt

1 m

Current Liabilities

19.4 m13.4 m19.7 m20.3 m18 m

Long-term debt

4.2 m4.1 m7.7 m7.3 m

Non-Current Liabilities

4.8 m12.5 m14.6 m12.9 m14.2 m

Total Debt

7.3 m1 m

Total Liabilities

24.1 m25.9 m34.3 m33.2 m32.3 m

Additional Paid-in Capital

15.7 m15.8 m15.8 m15.7 m15.8 m

Retained Earnings

6 m6.9 m6.3 m6.3 m3.9 m

Total Equity

21.9 m22.8 m22.3 m22.3 m19.8 m

Debt to Equity Ratio

0.3 x

Debt to Assets Ratio

0.1 x

Financial Leverage

2.1 x2.1 x2.5 x2.5 x2.6 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Cash

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

Accounts Receivable

16.4 m

Inventories

18.6 m18.8 m19.4 m20.4 m19.5 m20.6 m21.7 m21.6 m13 m

Current Assets

36 m36.1 m36.2 m38.3 m38 m39.9 m42.1 m39.7 m41.3 m41.1 m40.3 m40.7 m39.1 m

PP&E

11.1 m11 m10.9 m11 m11.3 m11 m10.8 m10.8 m10.8 m10.6 m9.7 m9.5 m10.1 m

Goodwill

3.3 m3.3 m3.3 m3.3 m3.3 m3.3 m2.4 m

Total Assets

47.2 m47.2 m47.2 m49.4 m49.4 m51.1 m58.3 m56.2 m57.7 m57.2 m55.8 m55.9 m53.3 m

Accounts Payable

8.5 m8.6 m9.5 m9.3 m8.8 m11 m14.3 m12.2 m14.2 m14.9 m15.3 m15.3 m12.1 m

Short-term debt

1 m

Current Liabilities

20.9 m20.4 m13.2 m14.3 m13.3 m15.2 m22 m19 m20.7 m20.7 m20.8 m21.4 m18.4 m

Long-term debt

8 m7.6 m4.2 m8.5 m6.9 m8.2 m8.5 m8.2 m4.2 m

Non-Current Liabilities

4.6 m4.9 m11.7 m12.5 m13.4 m13.6 m14.1 m14.8 m14.9 m14.3 m12.7 m12.1 m14.1 m

Total Debt

8 m7.6 m4.2 m8.5 m6.9 m8.2 m8.5 m8.2 m5.2 m

Total Liabilities

25.5 m25.2 m24.9 m26.8 m26.7 m28.8 m36.1 m33.8 m35.5 m35 m33.5 m33.6 m32.5 m

Additional Paid-in Capital

15.7 m15.7 m15.8 m15.8 m15.8 m15.8 m15.8 m15.8 m15.7 m15.7 m15.7 m15.8 m15.7 m

Retained Earnings

5.7 m6.1 m6.3 m6.6 m6.7 m6.3 m6.2 m6.4 m6.2 m6.2 m6.3 m6.3 m4.9 m

Total Equity

21.7 m22 m22.3 m22.6 m22.6 m22.3 m22.1 m22.3 m22.1 m22.2 m22.3 m22.3 m20.8 m

Financial Leverage

2.2 x2.1 x2.1 x2.2 x2.2 x2.3 x2.6 x2.5 x2.6 x2.6 x2.5 x2.5 x2.6 x

Nortech Systems Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

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

Depreciation and Amortization

2 m2 m2.2 m2.1 m2.2 m

Accounts Receivable

(2.4 m)(1.3 m)(864.1 k)1.1 m577.7 k

Inventories

237.4 k(1.1 m)(1.7 m)(489.1 k)2 m

Accounts Payable

(1.1 m)1.1 m3.9 m817.2 k(2.1 m)

Cash From Operating Activities

275.9 k1.6 m3.4 m3.5 m806.2 k

Purchases of PP&E

(1.2 m)(2.2 m)(1.7 m)(2 m)(813.3 k)

Cash From Investing Activities

(1.1 m)(2.2 m)(3.7 m)(2 m)(258.4 k)

Long-term Borrowings

(613.9 k)(666.7 k)(1 m)(1.5 m)(5.9 m)

Cash From Financing Activities

871.6 k672.5 k208.1 k(38.6 k)

Interest Paid

366.3 k359.7 k442.3 k499.1 k538.4 k

Income Taxes Paid

187.3 k417.6 k417.6 k110.6 k20.2 k

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018

Net Income

546.2 k86.2 k332.9 k665.6 k(192.8 k)(571.1 k)(694.8 k)62.9 k(117.3 k)(54 k)(14.7 k)(391 k)

Depreciation and Amortization

1.5 m497.4 k999.2 k1.5 m516.7 k1.1 m1.6 m517.1 k1 m1.6 m561 k

Accounts Receivable

(1.5 m)621.4 k869.6 k424.8 k957.5 k710.8 k(1.6 m)2.2 m329.8 k743.1 k(762 k)

Inventories

(983.5 k)(1.4 m)(2 m)(3 m)(988.8 k)(2.1 m)(1.7 m)(1.1 m)(1.3 m)(1.6 m)21.7 m229 k

Accounts Payable

(650.8 k)640.2 k1.6 m1.4 m(168.2 k)2 m5.2 m(839.1 k)1.2 m1.9 m15.3 m317 k

Cash From Operating Activities

(21.2 k)523.4 k1.3 m1.4 m(239.6 k)(136.8 k)3.9 m1.3 m1.1 m1.9 m542 k

Purchases of PP&E

(1 m)(669.7 k)(1.1 m)(1.8 m)(907.3 k)(1.2 m)(1.5 m)(785.2 k)(1.4 m)(1.7 m)(288 k)

Cash From Investing Activities

(950.1 k)(669.7 k)(1.1 m)(1.8 m)(907.3 k)(1.2 m)(3.4 m)(1.4 m)(1.7 m)(292 k)

Long-term Borrowings

(489.7 k)(138 k)(361.2 k)(507 k)(163.2 k)(427.8 k)(755.2 k)(322.5 k)(734.6 k)(1.1 m)(222 k)

Cash From Financing Activities

1.5 m482.4 k(199.8 k)599.1 k1.1 m1.4 m(535.4 k)209.4 k343.8 k(154 k)(284 k)

Interest Paid

278.4 k87.2 k182 k268.4 k92.3 k200.6 k320.4 k127.7 k260.6 k394.3 k139 k

Income Taxes Paid

187.3 k100 237.6 k417.6 k100 237.6 k417.6 k

Nortech Systems Ratios

USDY, 2018

EV/EBIT

-116.6 x

EV/CFO

25.8 x

Financial Leverage

2.6 x
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