This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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 Fourth Quarter And Full Year 2012 Results

From the third quarter to the fourth quarter of 2012, backlog numbers rose sequentially across all three of Nortech’s key markets – medical, industrial and defense. Degen concluded, “Despite headwinds from the economy, we’re pleased with our positive momentum and strong cash management position heading into 2013.”

Conference Call Nortech Systems announces a conference call to be held at 10:00 a.m. (CST) on Thursday, March 7, 2013, to discuss the company’s fourth quarter and fiscal year results. Anyone interested in participating in the conference can access the call by dialing 877-407-8031 from within the United States, or 201-689-8031 if calling internationally. An audio webcast and replay of this conference call can be accessed at the investor relations portion of Nortech Systems’ website at www.nortechsys.com or at www.investorcalendar.com. A podcast (MP3 download) will also be available. The telephone replay will be available through March 21, 2013, by dialing 877-660-6853 (from U.S.) or 201-612-7415 (International). To access the replay, the conference ID 409924 is required.

About Nortech Systems Incorporated Nortech Systems Incorporated ( www.nortechsys.com), based in Wayzata, 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 manufacturing capabilities and operating partners in the U.S., Asia and Latin America. Nortech Systems Incorporated is traded on the NASDAQ Stock Market under the symbol NSYS.

Forward-Looking Statements This press release contains forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. While this release is based on management’s best judgment and current expectations, actual results may differ and involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the forward-looking statements include, without limitation: volatility in market conditions which may affect market supply of and demand for the company’s products; increased competition; changes in the reliability and efficiency of operating facilities or those of third parties; risks related to availability of labor; commodity and energy cost instability; general economic, financial and business conditions that could affect the company’s financial condition and results of operations; as well as risk factors listed from time to time in the company’s filings with the SEC.

 
 

Condensed Statements of Operations

    Three months ended Dec. 31,     Twelve months ended Dec. 31,
Unaudited     Audited
2012     2011     2012     2011
Net Sales $25,022,165     $29,123,480 $106,937,387     $114,236,411
Income from Operations 484,910

466,432

1,460,598

1,512,366

Income before Income Taxes

381,542

360,783

927,438 1,750,930
 

Income Tax Expense

106,000

126,000

298,000

561,000

 

Net Income

275,542

234,783

629,438

1,189,930

 

Net Income Per Basic Common Share

$0.10

$0.09

$0.23

$0.43

 

Weighted Average Number of Common Shares – Basic

2,742,992

2,742,992

2,742,992

2,742,392

Net Income Per Diluted Common Share

$0.10

$0.09

$0.23

$0.43

 

Weighted Average Number of Common Shares – Diluted

2,742,992

2,742,992

2,742,992

2,742,992

 
       

Condensed Balance Sheets – Audited

Dec. 31, 2012 Dec. 31, 2011
           
Current Assets $ 32,691,371 $ 37,297,487
Property and Other Long-Term Assets   11,823,528   9,484,656
Total Assets $ 44,514,899 $ 46,782,143
 
Current Liabilities $ 20,131,441 $ 25,012,055
Long-Term Liabilities 3,248,227 1,264,295
Shareholders’ Equity   21,135,231   20,505,793

Total Liabilities and Shareholders’ Equity

$

44,514,899

$

46,782,143

 




2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

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