Powering the Future: Why Thermal Management Defines the Future of Electronics
Standard of Excellence: Engineering Is the New Sales—How Technical Collaboration Wins Business
SMT Perspectives & Prospects: Artificial Intelligence, Part 7—Data Module 2
Nortech Systems Reports Q3 2017 Net Sales of $28M
November 13, 2017 | Nortech SystemsEstimated reading time: 1 minute
Nortech Systems Inc. has reported net sales of $28.3 million for the third quarter ended September 30, compared with net sales of $29.7 million for the third quarter of 2016. For the nine months ended September 30, Nortech's net sales were $86.8 million, compared with $87.6 million for the same period in 2016.
Operating income for the third quarter was $284,000, compared with $190,000 for the third quarter of 2016. For the nine-month period, Nortech reported operating income of $500,000, compared with $301,000 for the same period in 2016.
Nortech Systems reported third quarter net income of $43,000, compared with $63,000 for the same period last year. For the nine months ended September 30, 2017, the company reported net income of $13,000. This compares with a net loss of $54,000 for the same period in 2016.
“While our defense and industrial customers are beginning to show positive traction, our third quarter results were impacted by a seven percent decline in medical sales,” said Rich Wasielewski, Nortech Systems’ president and CEO. After a long run of medical growth for Nortech, the recent trends in the medical market, along with program delays, have resulted in less engineering project work and product revenue.
Industry factors negatively impacting U.S. medical technology companies include uncertainty about the future of the federal medical device tax, increased FDA regulations and lower venture capital funding.
Wasielewski expects the medical sector will continue to present challenges through the remainder of 2017 and the first half of next year as several of Nortech’s larger OEM medical customers work down inventory levels.
“Our diverse customer base across three core markets and our globalization strategy remain key strengths,” Wasielewski concluded. “We’re also supporting infrastructure, operations and business development activities to target profitable growth.” Enhancing Nortech’s technical resources, information systems and “One Nortech” cooperation across facilities is aimed at providing better customer service and an improved return to shareholders.
About Nortech Systems Incorporated
Nortech Systems Incorporated (www.nortechsys.com), 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, medical and aerospace/defense. The company has operations in the U.S., Mexico and China. Nortech Systems Incorporated is traded on the NASDAQ Stock Market under the symbol NSYS.
Share on:
Testimonial
"In a year when every marketing dollar mattered, I chose to keep I-Connect007 in our 2025 plan. Their commitment to high-quality, insightful content aligns with Koh Young’s values and helps readers navigate a changing industry. "
Brent Fischthal - Koh YoungSuggested Items
Spirit Electronics Named Authorized Distributor for Microchip Technology
04/17/2026 | Globe NewswireSpirit Electronics, a vertically integrated electronics design and manufacturing solutions provider serving the military and aerospace markets, announced that it has been designated as an authorized distributor for the Americas for Microchip Technology, a broadline supplier of semiconductors committed to making innovative design easier through total system solutions.
FTG Reports Strong Q1 2026 Results with Double-Digit Revenue Growth and Rising Backlog
04/09/2026 | Firan Technology Group CorporationIn Q1 2026, the Corporation grew organically. FTG is strategically investing its capital in ways that will drive increased shareholder returns for the future in both the near term and long term. The company's achievements in Q1 2026 demonstrate this commitment, laying a strong foundation for future growth.
EMI Promotes David Vue to Lead Military and Aerospace Division
03/31/2026 | Express Manufacturing Inc.Express Manufacturing, Inc. (EMI), a global electronics manufacturing services (EMS) provider, announced the promotion of David Vue to Military and Aerospace Division Manager.
SP Manufacturing Expands into UK Avionics Sector, Secures First Customer Engagement
03/30/2026 | SP ManufacturingSP Manufacturing Pte Ltd., a leader in comprehensive electronic manufacturing services, announced its expansion into the avionics sector in the United Kingdom, marked by the successful onboarding of its first UK-based avionics customer.
Honeywell Aerospace, Defense Department Sign Deal to Boost Defense Tech Production
03/27/2026 | PRNewswireHoneywell announced it has signed a groundbreaking supplier framework agreement with the U.S. Department of War (DoW) to rapidly increase the production of critical defense technologies. This agreement includes a $500 million multi-year investment to upgrade the company's production capacity.