This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Nortech Systems Reports Third Quarter Results

Stocks in this article: NSYS

Nortech Systems Incorporated (NASDAQ: NSYS) today reported net sales of $28.3 million for the third quarter ended Sept. 30, 2011, a nine percent increase over net sales of $26.0 million for the third quarter of 2010. Operating income for the third quarter of 2011 was $420,000, compared to $166,000 for the third quarter of 2010.

For the third quarter of 2011, Nortech Systems reported net income of $183,000, or $0.07 per diluted common share. This compares with net income of $127,000, or $0.05 per diluted common share, for the third quarter of 2010.

Nortech Systems reported net sales of $85.1 million for the nine months ended Sept. 30, 2011. This compares with $72.4 million for the same period in 2010, an increase of 18 percent. Operating income for the first nine months of 2011 was $1.0 million, compared with operating income of $977,000 reported for the same period in 2010.

Net income for the nine-month period was $955,000, or $0.35 per diluted common share, compared with $370,000, or $0.13 per diluted common share, reported for the same period in 2010.

“Revenue growth was led by our industrial and medical customers, strongly aided by our two most recent acquisitions,” said Mike Degen, president and CEO of Nortech Systems. “Strengthening and expanding our customer base has helped offset some weakness in demand we’re experiencing with certain industrial customers.”

Degen added that macroeconomic uncertainty in the U.S. and worldwide has been impacting Nortech’s customer base, most significantly in semiconductor capital equipment. However, demand is increasing from defense customers.

“In this difficult business climate, we’re successfully managing our business to suit economic conditions,” commented Degen. “We are also pleased with our progress integrating our latest acquisitions -- we began to see profitability improve along with revenue.

“Meeting the challenges of an uncertain economy while continuing our successful integration activities and other lean initiatives will keep Nortech on the path to achieving our long-term goals,” Degen concluded.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs