-
-
News
News Highlights
- Books
Featured Books
- design007 Magazine
Latest Issues
Current IssueThe Designer of the Future
Our expert contributors peer into their crystal balls and offer their thoughts on the designers and design engineers of tomorrow, and what their jobs will look like.
Advanced Packaging and Stackup Design
This month, our expert contributors discuss the impact of advanced packaging on stackup design—from SI and DFM challenges through the variety of material tradeoffs that designers must contend with in HDI and UHDI.
Rules of Thumb
This month, we delve into rules of thumb—which ones work, which ones should be avoided. Rules of thumb are everywhere, but there may be hundreds of rules of thumb for PCB design. How do we separate the wheat from the chaff, so to speak?
- Articles
- Columns
Search Console
- Links
- Media kit
||| MENU - design007 Magazine
Nortech Systems Reports Net Sales of $31.4 Million in Q3 2024
November 8, 2024 | Nortech SystemsEstimated reading time: 1 minute
Nortech Systems Incorporated, a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, industrial and defense markets, reported financial results for the third quarter ended September 30, 2024.
2024 Q3 Highlights:
- Net sales of $31.4 million
- Net loss of ($739) thousand, or ($0.27) per diluted share
- Adjusted earnings before interest, taxes, depreciation, and amortization ("EBITDA") of $143 thousand
- 90-day backlog of $29.6 million as of September 30, 2024
Management Commentary
"Third quarter net sales were impacted by a continuing pattern of customers' delaying product purchases, as well as customers' desire to reduce their inventory and to shorten purchase order to fulfillment timelines, both of which have also negatively impacted many in the contract manufacturing industry over the last several quarters," said Jay D. Miller, President and CEO of Nortech. "We see this as an opportunity to further strengthen customer relationships which are key to achieving the Company's long-term strategic objectives. 2024 has been a difficult year with significant headwinds. However, we are meeting these challenges by consolidating facilities and moving a significant number of programs to lower-cost, higher-margin locations, while investing in important new capabilities. In general, we are continuing to position Nortech for sustained long-term health and growth in the face of short-term challenges."
"We have just completed a restructuring of our back office and plant operations to better serve our customers by delivering high-quality products and services on-time with shorter lead times," Miller noted. "We are very pleased with the progress in the third quarter of 2024 to consolidate the Company's North American footprint and to move customer programs to manufacturing locations that better fit our customers' needs. These are strategic moves to better scale the business, improve efficiency and reduce our ongoing cost structure. We are very bullish about our customer pipeline and the future of Nortech Systems."
Suggested Items
Fabrinet Announces Q2 Fiscal Year 2025 Financial Results
02/07/2025 | FabrinetFabrinet, a leading provider of advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, announced its financial results for its second fiscal quarter ended December 27, 2024.
Dan Beeker on the Design Engineer of the Future
02/07/2025 | Andy Shaughnessy, Design007 MagazineAs technical director at NXP Semiconductors, Dan Beeker specializes in EMC and signal integrity design techniques. He’s known for his field-based design classes; you may remember the cover of Meghan Trainor’s “All About That Bass” that Dan and his daughter Breezy released in 2015 titled “All About The Space.” Check it out on YouTube; it’s funny, and it definitely gets the point across. As we begin 2025, I contacted Dan to get his thoughts about the design engineers of the future. What will their jobs look like?
LPMS USA to Offer Live Molding Demos at IPC APEX 2025
02/07/2025 | LPMS USALPMS USA, a leader in low pressure molding solutions, is thrilled to exhibit at IPC APEX 2025. Join us at Booth #2300 for live molding demonstrations using the innovative KAPPA 1100H.
MacDermid Alpha Introduces Reworkable Edgebond for High-Reliability Electronics
02/06/2025 | MacDermid Alpha Electronics SolutionsIn an era where high-performance and sustainable manufacturing practices are crucial, MacDermid Alpha Electronics Solutions is redefining industry standards with the launch of ALPHA® HiTech® CF31-4026.
Zhen Ding Releases January 2025 Monthly Revenue Report
02/06/2025 | Zhen DingZhen Ding Technology Holding Limited, a global leading PCB manufacturer, reported January 2025 revenue of NT$13,469 million, up 5.44% YoY, achieving a record high for the same period in the company’s history.