-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueIPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
Boost Your Sales
Every part of your business can be evaluated as a process, including your sales funnel. Optimizing your selling process requires a coordinated effort between marketing and sales. In this issue, industry experts in marketing and sales offer their best advice on how to boost your sales efforts.
The Cost of Rework
In this issue, we investigate rework's current state of the art. What are the root causes and how are they resolved? What is the financial impact of rework, and is it possible to eliminate it entirely without sacrificing your yields?
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Nortech Systems Reports 9% Sales Growth in Q1
May 5, 2016 | Business WireEstimated reading time: 1 minute
Nortech Systems Incorporated, a leading provider of full-service electronics manufacturing services (EMS), today reported net sales of $29.0 million for the first quarter ended March 31, 2016, a nine percent increase over net sales of $26.5 million for the first quarter of 2015.
For the first quarter of 2016, operating income was $221,000, compared with an operating loss of $202,000 for the first quarter of 2015. First quarter net income of $63,000, or $0.02 per diluted common share, compares with a net loss of $193,000, or $0.07 per diluted common share, in the prior year.
“Our revenue improvement was aided by last year’s acquisition,” said Rich Wasielewski, Nortech Systems’ president and CEO. “Our new medical device engineering services accounted for more than half of the increase.” The acquisition was made in the third quarter of 2015.
“Performance was mixed across customers and markets, with medical and defense showing revenue and backlog growth,” he continued. “The industrial market faced the most headwinds, especially the transportation, semiconductor and energy sectors.”
The overall revenue increase, higher gross margin and fixed-cost leveraging accounted for the quarterly profit improvement, according to Wasielewski. In addition, Nortech generated $1.3 million in operating cash flow.
“We’re encouraged by our first quarter results,” he concluded. “We expect volatility to continue through the first half of the year, but our order pipeline and early engagement opportunities give us optimism for the remainder of 2016.”
About Nortech Systems Incorporated
Nortech Systems Incorporated, based in Maple Grove, Minn., is a full-service electronics manufacturing services (EMS) provider of wire and cable assemblies, printed circuit board assemblies, and higher-level complete box build assemblies for a wide range of industries. Markets served include industrial equipment, aerospace/defense and medical. The company has operations in the U.S., Latin America and Asia. Nortech Systems Incorporated is traded on the NASDAQ Stock Market under the symbol NSYS.
Suggested Items
Absolute EMS Successfully Recertifies ISO 9001:2015 and AS9100 Standards
03/26/2024 | Absolute EMS, Inc.Absolute EMS, Inc., an award-winning EMS provider of turnkey contract manufacturing services, is proud to announce the successful recertification of its ISO 9001:2015 and AS9100 Rev D SAE International Aerospace Standards.
Arlon EMC Receives IPC-4101 QPL Recertification
03/20/2024 | Arlon Electronic MaterialsArlon Electronic Materials has successfully completed an intensive two-day recertification audit by IPC Validation Services that examined Arlon’s manufacturing processes and testing procedures to assure that they are in conformance to the requirements of IPC-4101E-WAM1, the Specification for Base Materials for Rigid and Multilayer Printed Boards.
Northrop Grumman Honors Suppliers for Excellence
03/14/2024 | Northrop GrummanNorthrop Grumman Corporation honored more than 70 suppliers for their outstanding contributions in 2023. In an annual recognition event, the companies included women-, minority- and veteran-owned small businesses as well as those operating in underdeveloped areas.
Cicor Acquires TT Electronics IoT Solutions
03/04/2024 | Cicor Technologies Ltd.The Cicor Group has signed an agreement to acquire TT Electronics IoT Solutions Ltd, with three production sites in the UK and China.
AEM, Texas Aerospace Technologies Bolster Partnership for Latin America
02/26/2024 | AEM Corp.Canadian avionics manufacturer, Anodyne Electronics Manufacturing Corp. (AEM), is pleased to announce a partnership expansion with Texas Aerospace Technologies, a subsidiary of Texas Aerospace Services, to add AEM’s new MTP136D modern panel-mount P25 VHF FM Forest Service radio to its lineup of product offerings for their Latin American customers.