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, manufacturing, 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 Ratings1.9
Overall CultureF

Latest Updates

Employees (est.) (Dec 2019)784(-4%)
Job Openings24
Revenue (FY, 2020)$104.1 M(-10%)
Share Price (Jul 2021)$10.3(+11%)
Cybersecurity ratingDMore

Key People/Management at Nortech

Jay D. Miller

Jay D. Miller

President & CEO, Corporate Director
Curtis J. Steichen

Curtis J. Steichen

Senior Vice President & Chief Sales Officer (CSO)
John Lindeen

John Lindeen

Senior Vice President of Global Operations
Philip Smith

Philip Smith

Independent Director
Lianne King

Lianne King

VP of Human Resources
Cathy Vold

Cathy Vold

Vice President of Marketing and Engineering Services
Show more

Nortech Office Locations

Nortech has offices in Maple Grove, Bemidji, Blue Earth, Mankato and in 4 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
Merrifield, MN, US
12136 Crystal Lake Rd
Milaca, MN, US
925 Enterprise Ave
Show all (8)

Nortech Financials and Metrics

Nortech Revenue

Embed Graph
View revenue for all periods
Nortech's revenue was reported to be $104.11 m in FY, 2020
USD

Revenue (Q1, 2021)

22.1m

Gross profit (Q1, 2021)

1.6m

Gross profit margin (Q1, 2021), %

7.1%

Net income (Q1, 2021)

(1.6m)

EBIT (Q1, 2021)

(2.2m)

Market capitalization (21-Jul-2021)

27.3m

Closing stock price (21-Jul-2021)

10.3

Cash (31-Mar-2021)

384.0k

EV

33.8m
Nortech's current market capitalization is $27.3 m.
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Revenue

112.3m113.4m116.3m104.1m

Revenue growth, %

1%3%

Cost of goods sold

100.2m100.1m103.8m95.7m

Gross profit

12.1m13.3m12.6m8.5m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q1, 2021

Revenue

28.3m30.1m28.3m26.4m28.5m29.6m28.2m27.3m30.1m27.4m26.5m22.1m

Cost of goods sold

25.2m26.8m24.8m23.4m24.7m26.2m25.2m25.0m26.4m24.4m24.0m20.5m

Gross profit

3.1m3.4m3.5m3.0m3.8m3.4m3.0m2.3m3.6m3.0m2.4m1.6m

Gross profit Margin, %

11%11%12%11%13%11%11%9%12%11%9%7%
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Cash

472.9k480.0k351.0k352.0k

Accounts Receivable

17.4m20.1m18.6m15.6m

Prepaid Expenses

815.0k1.4m2.1m2.0m

Inventories

18.5m17.0m14.3m13.9m
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Net Income

(2.4m)166.0k(1.2m)(1.5m)

Depreciation and Amortization

2.5m2.2m2.2m2.2m

Inventories

2.0m(3.9m)2.3m(216.0k)

Accounts Payable

(2.1m)6.0m(3.7m)(2.9m)
USDQ1, 2017

Revenue/Employee

36.2k

Debt/Equity

0.6 x

Debt/Assets

0.2 x

Financial Leverage

2.5 x
Show all financial metrics

Nortech Operating Metrics

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

Backlog

$19.44 m$27.4 m$27.3 m

Backlog (Aerospace and Defense)

$4.97 m$6 m$7 m

Backlog (Industrial)

$8.17 m$7.1 m$5.7 m

Industries Served

3
Show all operating metrics

Nortech 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 Revenue Breakdown

Embed Graph

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

Human Capital Metrics

Embed Graph
Show all human capital metrics

Nortech Cybersecurity Score

Cybersecurity ratingPremium dataset

D

67/100

SecurityScorecard logo

Nortech Online and Social Media Presence

Embed Graph

Nortech Company Culture

  • Overall Culture

    F

    42/100

  • CEO Rating

    F

    43/100

  • Compensation

    D

    54/100

Learn more on Comparably

Nortech News and Updates

Nortech Systems Inc (NSYS) CFO Christopher Dean Jones Bought $91,182 of Shares

CFO of Nortech Systems Inc (30-Year Financial, Insider Trades) Christopher Dean Jones (insider trades) bought 14,636 shares of NSYS on 12/28/2020 at an average price of $6.23 a share. The total cost of this purchase was $91,182

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

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 Financial Offi…

Nortech Systems Announces Two New Board Members

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 recently appointed t…

Nortech Systems Announces Third-Quarter 2020 Results

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 for the third …

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

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 identify Wasielewski’s replacement

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…
Show more

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 John Lindeen.

  • How many employees does Nortech have?

    Nortech has 784 employees.

  • What is Nortech revenue?

    Latest Nortech annual revenue is $104.1 m.

  • What is Nortech revenue per employee?

    Latest Nortech revenue per employee is $132.8 k.

  • Who are Nortech competitors?

    Competitors of Nortech include GM Nameplate, NEO Tech and Universal Instruments.

  • 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 4 other locations.

  • How many offices does Nortech have?

    Nortech has 8 offices.